Globalization and Trilemma

Hoontrakul, Pongsak

doi:10.1142/s0219091599000266

Cited by 4 publications

(2 citation statements)

References 24 publications

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“…Traditionally, a large company sought to be vertically integrated and to protect its monopoly economic rent. Strong directive from central government to mobilize resources may strategically be desirable as discussed by Hoontrakul (1999). In this relatively stable period, any firm that possess superior products, technologies, or organizational capabilities can earn positive economic profit.…”

Section: India's Experiencementioning

confidence: 99%

“…education quality degeneration, poor health care, etc.) as everyone tries to compromise and trade long term off for short term goals as discussed byHoontrakul (1999). In a low-income country prone with corruption and personal/special interests and lobbyists like in India, it is hard to attain a stable and strong government to bridge the gap between the rich and poor and the have and have-not.…”

mentioning

confidence: 99%

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The Rise of China and IndiaâIts Implications

Hoontrakul¹,

Balding²,

Marwah³

The Global Rise of Asian Transformation

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The rise of China and India is a triumph of market-based economy. India is not just a small economic version of China. India is the world center of business and high tech outsource to competitively deflate business process and services cost. China becomes the factory of the world to export cheap goods to every corner around the globe. The speed of both nations to "catch up" with the advanced economy is depending on which and how technology each is embracing given their institutional constraints. "Chindia" enhances world social welfare by opening up more young and urbanized population and asserting technology innovation productively into every aspect of our every day life. This is a gigantic market opportunity. With different value, endowment and starting point, China and India have its own way of path dependent political economic progress. What is justice and fair may depend on people to decide and to choose. India's political system in federal republic parliament style is rooted in colonial legacy and non-violent belief in respect different views of multi-ethnic,-linguistic and-religious communities. Chinese effective executive branch strives for a strong nation and economic power at the expense of civil liberty. Yet, gradual economic convergence between two countries may be seen in service oriented and heavy industry areas. Divergence in income disparity, partly due to Indian ineffective administration is undesirable and partly due to Chinese high wealth and power concentration. Potentially, more balance economic development in India and more balance political evolution in China may be desirable for the world peace and prosperity as Chindia thrust forward to proclaim its rightful world leaders. Water scarcity, energy efficiency, environmental pollution, foreign reserve recycling problem and security apprehension are highlighted among potential global issues with suggestive resolutions. This is a worldwide immense challenge.

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Section: India's Experiencementioning

confidence: 99%

mentioning

confidence: 99%

The Rise of China and IndiaâIts Implications

Hoontrakul¹,

Balding²,

Marwah³

The Global Rise of Asian Transformation

Self Cite

View full text Add to dashboard Cite

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A First Look at the Trilemma Vis-à-Vis Quadrilemma Monetary Policy Stance in a Pacific Island Country Context

Cocker²,

Delana³

et al. 2018

Rev. Pac. Basin Finan. Mark. Pol.

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Initiated by a central bank, this is the first study to examine and understand the trilemma as well as the quadrilemma monetary policy challenges in the case of Pacific Island countries. Taking Fiji as an example, over the 1975–2013 period, the trilemma, monetary independence and exchange rate stability might have been the more fervently pursued stance; the quadrilemma focus appears to have shifted to foreign reserves and capital account openness. When the full sample period is split into two subsamples, results show that the policy emphasis might have shifted from monetary independence, capital account openness, and foreign reserves to exchange rate stability, monetary independence, and foreign reserves. Policy implications are discussed.

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