Policymaking for science, technology, and innovation (R&D) is stepping into a new era in the twenty-first century within a highly integrated production network, making it more challenging to capture the impact of R&D investment from an evidence-based approach. To unfold the paradox of the R&D spillover effect spared in the global supply chain, we use computable general equilibrium model with the GTAP database v10 to analyze the impact of Japan's public R&D investment to the world focus on key sectors of global supply chain, namely chemical and pharmaceutical, electronic equipment, machinery, and transportation equipment to examine its output, external trades, and welfare. The productivity parameters triggered by public R&D investment are calibrated from the SciREX Policymaking Intelligent Assistance System-Economic Simulator (SPIAS-e). The simulation results show significant increase in Japan's output and export for chemical and pharmaceutical, electronic equipment, and transportation equipment. The GDP growth was stimulated by 0.6% and substantial welfare improvement by USD 78,000 million, while other countries such as Malaysia and Taiwan by 0.4-0.6%. In contrast, the economic indicators of China reveal a negative impact, implying a structural change in the composition of the production network. It is notable to see a higher economic integration of Oceania within the region through its vibrant production and trades. The study provides comprehensive global analysis on production networks and insights for evaluating the R&D investment spillover effects.
The Organisation for Economic Co-operation and Development Financial Literacy Survey of 2018 response is used to study the impact of financial knowledge, financial inclusion, and socio-demographic characteristics on financial resilience. The measurement of financial resilience considers elements related to keeping control of money, taking care of expenditures, having a financial cushion, handling financial shortfall or stress, and having financial planning. Using a sample of 3395 individuals across Malaysia, we find that greater financial knowledge is associated with the probability of being financially resilient. Greater financial inclusion in terms of having more bank accounts and holding more financial products is linked to the probability of being financially resilient. We also find that financial resilience varies across certain socio-demographic characteristics. Implications of the findings are discussed.