Millennial Asia

The process of global economic integration is justified by the primary goal of inclusive and balanced growth for all economies, so it is relevant to identify the extent to which this goal has been achieved. This research evaluates whether the member economies of the Asia-Pacific Economic Cooperation (APEC) have experienced economic convergence during the 1960–1990 (pre-APEC) and 1990–2020 (post-APEC) periods. For this purpose, beta, sigma and gamma convergence are estimated, which are methodological approaches proposed by Barro and Sala-i-Martin (1991, Brookings Papers on Economic Activity, 1991(1), 170–182) and Marchante et al. (2006, Fundación de Estudios de Economía Aplicada Working Papers No. 2006-05), for APEC as a region and for the high- and middle-income economies that conform it. The results show that the process of economic convergence among APEC members intensified after its formation in 1989 and that the region can be categorized as an ‘economic convergence club’. As well as that, the high- and middle-income groups are converging towards their respective stationary state.

This study explores how healthcare expenditure and human development index impact environmental quality in 26 Asian countries during the period 2000–2018. Both aggregate and disaggregate (public and private) variables of healthcare expenditure are used. The dynamic ordinary least squares and augmented mean group estimation techniques are employed to assess the impact of selected variables on environmental quality captured using carbon dioxide (CO₂) emissions as a proxy. The causality among the variables is tested using the Dumitrescu–Hurlin panel causality test. The outcome of the study showed that scaling aggregate healthcare expenditure, disaggregate healthcare expenditure (public and private) and human development index deteriorates environmental quality. The causality tests confirm a bidirectional association between aggregate healthcare expenditure and CO₂ emissions, disaggregate healthcare expenditure and CO₂ emission and a one-way connection from human development index to CO₂ emission. The study finds that the significant positive impact of healthcare expenditure and human development index on CO₂ emission is a concern, as rising emissions have adverse effects on the environment, public health and global economy. The study highlights the need for policies to promote sustainable development in a way that balances the needs of healthcare, human development and the environment.

This study aims to investigate the relationship between trade openness and taxation in BRICS (Brazil, Russia, India, China and South Africa) countries. This study uses a panel dataset for 2000–2021 and employs various econometric techniques such as the cross-sectional dependence test, unit root test, panel regression selection criteria, robustness checking fully modified ordinary least square and dynamic ordinary least square to validate the research model. The study finds that trade openness positively impacts taxation in BRICS countries. Specifically, the study finds that trade freedom, trade ratio and average trade increase the tax-to-GDP ratio and tax collection. Additionally, the study finds that financial development (FDV), financial openness (FON), GDP per capita (GPR) and political stability (PLS) positively impact taxation, but inflation has a negative effect. The results imply support for comparative advantage theory, suggesting that trade openness can positively impact taxation. The findings also highlight the importance of FDV, FON, GPR and PLS for tax revenue collection. From a managerial perspective, the results suggest that policymakers in BRICS countries should prioritize measures that promote trade openness and economic growth to improve their taxation systems.

Leadership competencies act as a precursor in catalysing bureaucratic reform and propelling long-term development, yet the multitude of political tensions and policy conundrums has called for a deeper examination of the individual capabilities needed to satisfy public expectations. Taking on a comparative case study approach in East Java, Indonesia, we dissect the dynamic relationship between leadership competencies, individual policy capacity and regional development, positioning that these three elements form a symbiotic capability matrix that transcends their individual boundaries. We unveil how autonomous and proactive leaders, while operating within established structures and networks, leverage the power of social embeddedness, thus crystallizing it as an integral pillar for successful regional development. Through the embodiment of interdependence and relational dynamics, we foster a paradigm shift from an individualistic perspective to a context-aware, relation-centred approach within leadership and regional development landscapes.

This article explores United States’ Iran policy, especially the current debate over the revival of Joint Comprehensive Plan of Action (JCPOA) that has gained momentum ever since Joe Biden became the new US president. Despite Biden’s initial desire to restore the nuclear deal, the trajectory so far has been that of a roller-coaster ride. The parties are yet to reach an agreement. While exploring why, this article argues that the United States has been entrapped into an intractable rivalry with Iran. In fact, many neoconservative academic and policymaking Iran hawks falsely portray Tehran as pursuing ‘regional hegemony’ and bringing back the dangerous ‘Persian Empire’ to encourage and favour a harsh policy towards Iran. Besides, the United States allies such as Israel and Saudi Arabia also lured Washington to pursue aggressive policy towards Iran. However, as this article demonstrates these false narratives and myths while hurting the United States’ national interest blinds Washington to possible areas of mutual interest with Iran. The trajectory of JCPOA underscores this. Therefore, it is very crucial to scrutinize the ‘Iran myth/s’ and offer valuable lessons to the United States as to how not, and how to fix the Iran conundrum.

The present study attempts to explore gender-based gaps in access to quality healthcare at the pan-India level. To undertake our analyses using National Sample Survey Office’s secondary data, we prepared a Gender Parity Index to understand the nature and extent of gender differential in access and direct utilization of quality healthcare services. The results validate the proposed objective of the study, that is, females suffer from innate accessibility gaps in rural as well as urban India. Females not only lack access to general healthcare but are also devoid of quality healthcare. Males, often, have better access to general healthcare through private hospitals and clinics in conjunction with other sources. On the other hand, females are predominantly confined to the government and charitable medical institutions. Additionally, the results show that the brunt of these gaps in healthcare is borne relatively more by rural females than their urban female counterparts.

Money supply in India is analysed using a non-linear autoregressive distributed lag (NARDL) model to see how several factors, such as electronic payments, exchange rate, interest rates and inflation, affect the money supply. The Augmented Dickey–Fuller unit root test and the Phillips–Perron unit root test are utilized to confirm that the variables are stationary. In the bounds test of the NARDL as well as Johansen–Juselius cointegration test, this study finds evidence of cointegration amongst variable used in the study. NARDL testing model is employed to investigate the dissimilar influences on variables with short- and long-run dynamics. Short-term estimates suggest that the money supply (M1) is most responsive to positive shocks involving retail payments, the exchange rate and interest rates, but negative shocks involving card payment and prepaid payment instruments. A reduction in card payment, as well as a positive increase in retail payment, the prepaid payment instrument, the exchange rate and the interest rate, would all have major effects on M3 in short run. In addition, a long-term finding demonstrates that all of the variables have a significant influence on the money supply (M1) in its mixed form while all of the factors, with the exception of the one involving card payments, have a considerable impact on the money supply (M3). Wald test results confirm the existence of asymmetric influences which can have significant lessons for policymakers.