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"More specific objectives of this book are to: (1) discuss the developments of macroeconomic and trade policy mix against the backdrop of the eurozone sovereign debt crisis and economic prospects, (2) assess the effectiveness of policy responses to the global economic unrest, (3) identify opportunities and challenges facing Southeast Asia in the midst of the global economic slump, (4) rethink the East Asian model of growth where enormous gains were driven principally by export demands from advances economies, and (5) pioneer the key areas of regional cooperation and macroeconomic and trade policy reforms that may potentially strengthen regional economies."

"Tesis ini adalah kajian hukum transnasional, khususnya kajian hukum ekonomi internasional mengenai isu krisis finansial global. Tesis ini berhipotesis bahwa isu krisis finansial adalah bagian dari isu hukum transnasional karena berdampak lintas batas negara, sehingga diperlukan kerjasama antarnegara atau kerjasama internasional untuk menangani krisis finansial yang terjadi di suatu negara. Keberadaan IMF dan G20 merupakan bentuk nyata dari kerjasama internasional tersebut dan mereka sangat memengaruhi pembentukan dan perkembangan tatanan ekonomi dunia (global economic order). Bantuan keuangan IMF untuk mengatasi krisis finansial, telah mengintervensi kedaulatan ekonomi di negara-negara berkembang. Sementara, G20 telah memperhitungkan kekuatan ekonomi negara-negara pasar berkembang (emerging markets), dalam pembahasan ini ditekankan pada negara-negara pasar berkembang Asia (Asian Emerging Market Economies). Posisi tawar dari negara-negara ekonomi pasar berkembang Asia di dalam G20 memiliki pengaruh dalam menjaga stabilitas perekonomian dunia. Di masa depan, keterlibatan negara-negara ekonomi pasar berkembang Asia dalam kerjasama regional dan G20 an sich akan menjadi penting dalam kaitannya dengan reformasi tata kelola ekonomi dunia (global economic governance), khususnya dalam rangka reformasi pembentukan keputusan dan pembuatan norma hukum ekonomi internasional, dan medefinisikan-ulang konsep kedaulatan ekonomi dalam rangka mencegah dan mengatasi fenomena krisis finansial demi kemaslahatan seluruh masyarakat internasional.

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ABSTRACTThis thesis is a study of transnational law, particularly international economic law concerning the global financial crisis. This thesis hypothesizes that the financial crisis is a part of transnational legal issue for its cross-border impact, therefore a cooperation between countries or international cooperation is necessarily needed to deal with financial crisis in a country. The existence of the IMF and the G20 is an obvious manifestation of international cooperation, and they strongly influence the formation and the development of the global economic order. The IMF?s financial assistances have intervened in the economic sovereignty of developing countries. Meanwhile, the G20 has calculated the economic strength of the emerging market economies, emphasized herein, the Asian Emerging Market Economies (the Asian EMEs). The bargaining position of the Asian EMEs within the G20 has a significant influence in order to maintain the stability of the world economy. In the future, the involvement of the Asian EMEs for such regional cooperation and the G20 an sich will be important related to the attempt to reform the global economic governance, particularly to reform the decision-making and the norm-creating of international economic law, and to redefine the concept of economic sovereignty in order to prevent and to resolve the phenomenon of financial crisis for the convenience of the entire international community/society."

"Over the last few decades, East Asian economies has emerged as the most dynamic growth center of the world economy. The spectacular success of Fast Asia's outward-oriented industrialization demonstrated a dynamic nexus of comparative advantage changes and industrial modernization — multiple catching up-flying geese pattern of industrialization. At the same time, there has also been an increase in regional bias economic interdependence of these economies. Thus, this study focuses on the "challenges and opportunities of the restructuring efforts of the East Asian economies in the 1990s and the need for a conducive regional cooperation to accelerate and sustain the East Asian dynamism. The study of the resulting structural and industrial shift behavior in East Asia is undertaken by using a sort of descriptive technique on: RCA Index — to discern the shift pattern of trade and industrial specialization and structural adjustment, and Iff Index, to examine the degree of complementarity and economic integration in the region. The basic idea is to evaluate the extent to which the resultant structural adjustment of East Asian Economies over the last few decades have led to a market driven integration in the region. The study has confirmed many important behavioral relationships between the export-led industrialization and structural adjustment in East Asia region. The East Asian economies' industrial structures have become increasingly competitive and complementary, in which a very sophisticated sub-regional division of labor has been developed according to the domestic corresponding comparative advantage, factor and technologically capacity. At the same time, the study also conveys clearly that in the wake of outward-oriented mechanism of economic growth, a de facto economic integration has been evolved and seems to be continuously strengthened in East Asia. 'Ile progress of intra-industry trade intensified the direct interdependence of industrial structural among East Asian countries, and hence contributes to the natural formation of an organically integrated economic community among them on the basis of trade-investment nexus. The implications drawn from this study suggests that, in today's increasingly interdependent, globalized, and competitive international trade environment, it is likely that the region's policy makers have recently find it necessary to consider an institutional mechanism for regional economic cooperation — open regionalism -- to continue the existing East Asian dynamism. Given the need for more coordination and harmonization of national policies, the region's economies should reframe and/or establish congenial macro-economic framework to expedite and maximize the benefits of the ongoing market driven integration growth. The participative synergy generated through regional cooperation may also provide the impetus for infusing greater dynamism in the trade expansion efforts which will be diffused throughout the region and even throughout the world 'economy."

"This paper primarily attempts to detect the trend in the present upshots of global warming temperature data. It has been done through the estimation of the long memory fractional parameter using a simulation technique in the presence of additive outilers which stands as wild observations generated in the atmosphere due to global warming. Then the study investigates empirically the impact global warming on the particular aspect of global agricultural production. Based on Monte Carlo simulations, a data generating process is applied here additive outliers are generated in a discrate way. Observed facts reveal that additive outliers affect the bias and the MSE of the estimated fractional parameter. The size of the additive outliers in data generating process has also important effects on the estimated fractional parameter depending on the value of true fractional parameter. The result exhibits a non-trend or a natural cyclical variability influenced by a stochastic process in the case of climate change behavior with wild observations (outilers) that produce contradictory outcome of profound uncertainties againts the case of true world temperature data trend. The results of empirical investigations assert that in the late 21 century unabated global warming would have a negative impact on global agricultural production in the aggregate and the impact could be severe if carbon fertilization benefits (enhancements of yields in a carbon-rich environment) do not materialize, especially if water scarcity limits irrigation. In addition, if warming would not halt in the 2080s, but would continue on a path toward still higher global temperature in the composition of agricultural damage could be more severe. The study also shows that the composition of agricultural effects is likely to be seriously unfavorable to developing countries with the most severe losses in Africa, Latin America and India."