Do case studies have broader significance than mere description of a particular event or incidence? How can they be applied to other cases? These are the challenges that most fieldworkers dealing with a small sample face. Small-N studies are often ranked lower in terms of scientific rigor in comparison to Large-N studies and laboratory experiments. However, if appropriately conducted, case studies can reveal processes and mechanisms that large scale statistical analysis often cannot. In other words, in close contacts with the data source and in-depth understanding of the contexts would allow case studies to generate observations with high validity. This is primarily due to its flexible and “grounded” nature of qualitative research. On the other hand, additional effort is needed to enhance their reliability, i.e., increasing the transparency of data sources and collection methods; establishing external linkages with larger issues beyond the boundary of selected samples; and cross checking with quantitative data. Qualitative case studies can provide valid results to questions concerning processes and mechanisms, that are often vital to understanding how development operates. This strength should be explicitly stressed while their possible weaknesses in reliability should also be recognized. One way in which various disciplines related to development can communicate with each other is to discuss methods for analysis in comparative perspective. This should help uplift the academic quality of development studies in general.

This paper aims to analyze the changes in the spatial industrial structure from 1970 to 1990 and discuss its implications on economic disparities among states and development policies in Malaysia. It was found that, in spite of the efforts of the Malaysian government to reduce the states' economic disparity, the economic gap among state has been increasing in the process of industrialization. One of the factors causing the widening economic gap was the concentration of high-productivity industries in some states.

The analysis is mainly based on the decomposition of inequality index and the data mainly used is the population censuses conducted in 1970, 80 and 91 and various issues of Malaysia Plan. Based on the analysis it is shown that, though Malaysia has succeeded in relocating labor-intensive and low-productivity industrial sectors from the developed states such as Selangor, Penang and Johore to less developed regions, its equalizing impact was not enough to dominate the inequalizing impact of the concentration of modern-technology and high-productivity activities to the former. Large part of the productivity gap can attributed to two industries, as agriculture and manufacturing. The former factor has decreased by the various projects to less developed areas in 1970 s though it returned to deterioration in 1980 s, and the latter factor was never improved during the period at all. So we must say that NEP was not successful to eliminate the gap between states despite its well-known characteristics of policy-led equalization.

Malaysian experiences show how it is difficult for governments to redress the economic gaps among states. The results of this paper will contribute to profound understanding of economic development and income inequality in developing countries.

This study investigates people's willingness to pay (WTP) for mortality risk reductions in Shanghai, China using contingent valuation surveys. Specially, this study focuses on the relationship of age and WTP for mortality risk reduction. The target risks are air pollution and traffic accidents. Respondents were asked to answer double-bounded dichotomous choice questions for reducing the mortality risk by 30 / 1,000,000 and 60 / 1,00,000 from the baseline risks. The payment vehicles in the risk reduction scenario are medical health check for air pollution risk and safety devices for traffic accident risk.

The surveys were implemented in September 2002 in Shanghai. We collected 640 samples. The estimated values of statistical life (VSLs) are about US$536,000-1,216,000 in the case of air pollution-associated risk and US$898,000-1,853,000 for traffic accident risk.

In our analysis, we found that WTP for associated traffic risk reduction exhibits the “inverted-U” relationship with age, similar with what has been predicted by Shepard and Zeckhauser (1984) as the life cycle model. However, we could not find a relationship between age and WTP for associated air pollution risk.

Exchange rate management has become a hot debate in academic circles that examines the merits of fixed versus floating regimes. The 1997-98 Asian crisis has refocused attention on the exchange rate management of the East Asian countries. Most views expressed criticize the pre-crisis U. S. dollar-pegged-rate regime as one cause of the crisis.

This article examines exchange rate management in the selected East Asian countries from the viewpoint of stability of capital flows. The study's main findings are as follows: First, the significantly large super-risk premiums against the U. S. were found in the pre-crisis Asian sample countries with the de facto dollar peg regimes. Second, a regression analysis verified the correlation between the super risk premium and the short-term capital inflow. Third, a simulation analysis showed that an alternative inflation-slid management would have had a depressing effect on capital inflows while the basket peg system would not have.

This study tries to implicate that the excessively high domestic interest rates in four Asian crisis countries (Indonesia, Korea, Malaysia, and Thailand) are a result of policy responses to a large capital inflow, during the pre-crisis period. The preliminary results indicate that the interest rates in Asian crisis countries during the pre-crisis period are excessively high. Using the standard IS-LM-BP model as a theoretical model, solutions for interest rates were derived from two different systems (first, when monetary authorities continuously sterilize capital inflow; second, when monetary authorities constantly pursue monetary policy rules to stabilize the domestic economy). Vector error correction model (VECM) is chosen to empirically illustrate the positive influence of monetary policy responses to capital inflow on domestic interest rates. The results are notably robust, and suggested that the monetary policy responses to the large capital inflow in the pre-crisis period for four Asian crisis countries were the reason behind the excessively high domestic interest rates.

In 1990 s, institutional investors started investment to emerging stock markets after the liberalization of those markets. However, the series of financial crisis such as in the Mexico crisis in 1994, the Asian currency crisis in 1997 and the Russia crisis in 1998, has been recognized the new type of financial crisis as global issue, and it has argued about the cause and measure of a crisis between developed countries' governments, developing country governments, and international organizations. The international organizations and developed countries leaded by International Monetary Fund, have been considering “strengthening of an international financial system” as a critical global issue.

Under these circumstances, this paper focuses on two cases of influential new financial rule and system for emerging market by the private financial sector.

First, Morgan Stanley International Capital Index known as MSCI Index was revised from total market capitalization basis to free float shares basis which is excluded government possession stocks and foreigners' investment limitation shares. MSCI revised constitutes of Index including companies in emerging stock market.

Secondly, the California Public Employees' Retirement System (CalPERS) has reviewed emerging market countries with which it will invest public equity. The CalPERS adopted a new permissible country review that takes into account financial factors as well as political factors. Market liquidity and volatility, market regulation and investor protections, capital market openness, settlement proficiency, and transaction costs accounted for 50 percent of the review. Political stability, financial transparency and labor standards accounted for the remaining 50 percent. According to this review, the CalPERS eliminated its public equity investment in emerging stock markets such as Indonesia, Malaysia and Thailand.

The study on private sector initiative is significant because there are still few researches and case studies compared with a public sector, as for a motion of a private sector. It is aimed to understand “strengthening of an international financial system” which IMF leads.

In Indonesia, the Decentralization process is ongoing after the implementation of the regional autonomy laws (Law No.22 / 1999 on Regional Governance and Law No.25 / 1999 on Fiscal Balance between the Central Government and the Regions). In the forestry sector, the decentralization process is also going forward after the Law No.41 / 1999 on Forestry. However, as it stands, the decentralization process is in chaos, lacking in concrete policy and consultation for the regions by the central government.

Therefore, field research was conducted in West Kutai district, East Kalimantan Province in order to make an actor-oriented analysis on the forest management and clarify dynamic movements and relationships among the forest management bodies and the background and logic to their decisionmaking. Through the analysis, we proposed a future forest management system and the possible role of development assistance in achieving it.

It is revealed that the decentralization process has gone relatively well so far in West Kutai district because of the multi-stakeholder coordination. And it is accomplished through the efforts by (1) projects by foreign donors that helped in forming multi-stakeholder working groups for the forest management, and (2) Bupati (regent) and his staff achieving good relations with NGOs, the local people and research institutes. We put a high value on the process of consensus building through the multi-stakeholder working groups that resulted in establishment of the regional forest management plan and new regional regulations on forest management. It is also noted that the ownership of these working groups has already been transferred from the foreign donors to the local governments.

Meanwhile, the relationships among the levels of governments in each level (central, province and regency) are not yet in harmony because of their struggle for more authority. The empowerment of governmental sections and the local people is needed to ensure that participatory forest management is achieved.

Automotive industry of Thailand has been growing since 1960s and expanding its production and capacity, which is mostly developed and constituted by foreign direct investment from Japan. According to the business environment of the industry up to the late 1990s, Japanese automotive and autoparts manufacturers did not meet the needs to prepare an education and training system to satisfy the required standard of their production activities. But they are recently considering the adoptions of a fixed system for education and training for their employees and shifting their management to catch up with the globalization of the automotive industry, and most of the company has taken more systematic regime than the typical Japanese management system.

In this study, impact of the education and training system is theoretically discussed and evaluated, two case studies along with our field survey are demonstrated. The model, shown in the paper explains the efficiency of gradualism and the effectiveness of spiral formation to induce an educational and training system, that process will fit the current situation of Japanese enterprises in LDCs. In the case study, two Japanese companies which have just started their new systems are adopted as cases, one is a well known assembler and the other is an one of the largest suppliers in Japan, differentials of the characteristics between those systems are focused and defined.

As results of this study, there can be confirmed that a fixed system for the education and training will make a positive impact to the Japanese manufacturers, effect of the current discussions among them are theoretically proved. From case studies, two approaches to build up an education and training system are found, one is to implement an existing system already modified by the parents company, the other is to build up an original system considering local conditions. Each system hold its strong points, those can be evaluated to have good starts in this moment. As it was accepted and well evaluated in Japan, CDP will be adopted among Japanese manufactures in Thailand, it will contribute to develop their management and to promote skill formation by accelerating technology transfer.

The purpose of this paper is threefold: to review theories of monetary transmission mechanisms, to draw implications for development studies, and to introduce empirical studies of this field.

There are several channels through which monetary shock affects aggregate demand. These are called the “monetary transmission mechanisms”. One traditional mechanism was proposed by Keynes and it emphasizes the role of interest rate. This view, the “money view”, points out that the interest rate of government bonds influences our decision making for investments. The other view provides us with an explanation based on the imperfect information problem in financial markets. This view, the “credit view”, emphasizes the role of credit markets and financial intermediaries.

Since the late 1980 s, many financial economists have asserted that the “credit view” has become useless, because many countries have liberalized or deregulated their financial markets. This led financial intermediaries to have less influence in these countries. If we look at developed countries, there is no objection to the opinion that the “credit view” has become useless, but when looking at developing countries, the “credit view” is more plausible than the “money view”. One reason is that developing countries face a much more severe problem of information asymmetry due to the underdeveloped financial markets. Therefore, the “credit view” provides us with useful explanations when we look at monetary impacts on real economies in developing countries.

In the empirical studies, most of them have focused on developed countries. The result of some empirical studies did not support the “credit view”. On the other hand, some other empirical studies focusing on developing countries supported the “credit view”. This implies that the role of bank loans in developing countries is much more significant for economic stabilization and economic development.

In Nepal, Department of Soil Conservation and Watershed Management (DSCWM) of Ministry of Forest and Soil Conservation promotes participatory integrated watershed management. In the past projects implemented by DSCWM in collaboration with various donors/NGOs, user groups formed on the basis of settlements (watershed approach) were targeted to promote integrated watershed management. However, it is pointed out that such an approach is questionable in terms of sustainability of the groups and efficiency of the projects. On the basis of lessons of the related projects in the past, Local administrative approach is gradually being spread in consideration of sustainability of targeted groups and decentralization policy promoted by His Majesty's Government of Nepal.

Community Development and Forest/Watershed Conservation Project (CDFWCP-II), which is implemented by DSCWM in collaboration with Japan International Cooperation Agency (JICA), promotes a local administrative approach for the purpose of developing an applicable model of participatory community resource management on an equitable and sustainable basis. This paper examines the local administrative approach in integrated watershed management projects in Nepal with reference to experiences in CDFWCP-ll, the trend of DSCWM and lessons in related projects supported by other donors/NGOs.

This paper argues that it is important to recognise the difference between watershed approach and local administrative approach. Under this recognition, it will be appropriate to harmonise watershed approach with local administrative approach rather than to choose one or the other: a project could select target areas on the basis of a watershed area, and could approach the local administrations as a working unit. As other donors/NGOs mentioned, it will be important for efficient promotion of the local administrative approach to take a programme approach rather than a project approach, co-ordinating all related sectors. Moreover, it will be essential for DSCWM to take more initiatives to co-ordinate concerning donors and NGOs so that a united approach for participatory integrated watershed management will be fed back to its policy.