Information technology is increasingly being utilized in the property market. This paper examines how sensitive house transaction prices are to online price estimates using data collected from Zillow. We find that online property price estimates strongly predict transaction prices even when observable and unobservable house and neighborhood characteristics are controlled for. In addition, we find evidence that suggests that online price estimates may have a direct impact on transaction prices.

There are some thirty ongoing civil wars – Syria, Afghanistan, and Iraq among the high-profile case

The era of globalization saw China emerge as the world's manufacturing titan. However, the "made in China" model—with its reliance on cheap labor and thin profits—has begun to wane. Beginning in the 2000s, the Chinese state shifted from attracting foreign investment to promoting the technological competitiveness of domestic firms. This shift caused tensions between winners and losers, leading local bureaucrats to compete for resources in government budget, funding, and tax breaks.

Although democracy is, in principle, the antithesis of dynastic rule, families with multiple members in elective office continue to be common around the world. In most democracies, the proportion of such "democratic dynasties" declines over time, and rarely exceeds ten percent of all legislators. Japan is a startling exception, with over a quarter of all legislators in recent years being dynastic. In Dynasties and Democracy, Daniel M.

Export-oriented industrialization has transformed the Korean economy so profoundly that it has become known as the "Miracle on the Han." Yet, this industrial model has become fragile, as Korea’s chaebols are being challenged by Chinese competitors. Attempts to seek out new engines of economic growth have failed, or remain underdeveloped, while a looming demographic crisis threatens to exacerbate Korea’s problems.

A favorite icon for cigarette manufacturers across China since the mid-twentieth century has been the panda, with factories from Shanghai to Sichuan using cuddly cliché to market tobacco products. The proliferation of panda-branded cigarettes coincides with profound, yet poorly appreciated, shifts in the worldwide tobacco trade. Over the last fifty years, transnational tobacco companies and their allies have fueled a tripling of the world's annual consumption of cigarettes. At the forefront is the China National Tobacco Corporation, now producing forty percent of cigarettes sold globally.

Supported by Chinese officials and authoritative commentary, President Xi Jinping continued a moderate and cooperative posture toward Southeast Asia in early 2018, reaching a highpoint in Xi’s keynote address on April 10 at the annual Boao Forum for Asia in Hainan Province. Then, the posture switched dramatically to the surprise of many at home and abroad. On April 12, Xi appeared in military uniform addressing troops in the South China Sea participating in the largest naval review in China’s history.

In a new article for Contemporary American Review, Shorenstein APARC Distinguished Fellow Thomas Fingar examines how, twenty-five years after the demise of the Soviet Union, Americans are still struggling to understand and adjust to the costs and consequences of success. Since 1991, diplomats, military professionals, and others showed an inclination towards the same approach to international affairs that brought success in the Cold War. The result was a foreign policy both stable and predictable. Under the Trump administration, however, this no longer appears to be the case.
 

High costs of precision medicine raise concerns about exacerbating income-related disparities in healthcare utilization and health outcomes. One approach to expanding coverage in Asia has been to cover the precision therapy but require the pharmaceutical firm to cover the costs of the companion diagnostic test. Taiwan’s National Health Insurance (NHI) adopted this approach for lung cancer, colorectal cancer and leukemia, but not for the first target therapy covered by NHI, trastuzumab for the treatment of HER2-positive breast cancer.

Although many public hospital physicians in Vietnam offer private service on the side, little is known about the magnitude and nature of the phenomenon of so-called dual practice, let alone the dynamics between the public and private health sectors. This study investigates how and to what degree public hospital physicians engage in private practice. It also examines the commitment of dual practitioners to the public sector. The analysis is based on a hospital-based survey of 483 physicians at 10 public hospitals in four provinces of Vietnam.

We analyze the effects of early-life shocks with varying degrees of severity on mortality and human capital outcomes in the Philippines. We exploit variations in typhoon exposure and the introduction of a short-term post-disaster relief policy. Severe
typhoons are associated with increased mortality and adverse long-term outcomes. Before the disaster relief policy, mortality from in utero exposure to severe typhoons was 10 percent, and survivors exhibited similar levels of human capital as the unaffected.

Since the time of Lee Kuan Yew (1923–2015), Singapore’s leaders have refused to infer, merely from the country’s size and composition, a need to appease the People’s Republic of China (PRC). They have remained averse to the notion that little countries should kowtow to big ones, and they firmly reject the idea that their country is somehow racially embedded in a “greater China” whose roads all lead to Beijing.

Abstract

Ethnicity and immigration status may play a role in entrepreneurship and innovation, yet the impact of university entrepreneurship education on this relationship is under-explored. This paper examines the persistence and differences in entrepreneurship by ethnicity and nationality. We find that among Stanford alumni, Asian Americans have a higher rate of entrepreneurship than white Americans. However, non-American Asians have a substantially lower, about 12% points lower, start-up rate than Asian Americans.

Using a unique dataset on all major corporate restructuring events in Japan between 1981 and 2010, we assess changes in the role of the main bank in guiding corporate turarounds, and the economic consequences of these changes for distressed firms. We identify firms in distress among all listed firms based on accounting data, and we separately identify firms undergoing corporate restructuring based on a newspaper search for the Japanese term “saiken”.

This paper examines how the spatial distribution of economic activity evolved within North Korea during a period of economic sanctions. Countries have used economic sanctions to isolate North Korea from the benefits of international trade and finance. China, however, has not imposed the sanctions, and consequentially has offset the trade restrictions imposed by other countries.

This paper examines the impact of government guaranteed small business loans on regional growth. I construct a metro-level panel of the Small Business Administration's guaranteed loans and examine economic growth between 1993 and 2002, across 316 metro areas in the US. A simple OLS regression finds a significant positive relationship between small business loans and regional growth. However, first-difference and instrumental variable regressions that mitigate endogeneity find no significant employment or income growth effects from small business loans.

The development community has increased its focus on higher education over the past two decades, recognizing that education can contribute to building up a country’s capacity for participation in an increasingly knowledge-based world economy and accelerate economic growth. The value added by higher education to economies—job creation, innovation, enhanced entrepreneurship, and research, a core higher education activity—has been highlighted by an important body of literature. 

Peace on a Knife’s Edge is the translation of Lee Jong-Seok's 2014 memoir of South Korean president Roh Moo-hyun's efforts to bring peace to the Korean Peninsula in the face of opposition at home from conservative forces and abroad from the Bush administration’s hard stances of “tailored containment” and its declaration of the North as part of the “axis of evil.”

Abstract

Abstract
Substance abuse has been an important social and public health problem in Thailand for decades. The National Household Survey on Substance and Alcohol Use in Thailand, which has been conducted six times, shows that substance abuse has steadily increased.

Japan is known to have an exceptionally low level of inward foreign direct investment (FDI). The promotion of inward FDI is one of the policy goals of Abenomics structural reforms. This present paper studies the accumulation of Japan's inward FDI stock during the first 3 years of Abenomics (2012–2015), and finds no evidence that Japan's inward FDI stock increased more than the trend before Abenomics started would have predicted.

Part of an eighteen-month Academy project on Civil Wars, Violence, and International Responses, the essays