Chulalongkorn University Theses and Dissertations (Chula ETD)
Other Title (Parallel Title in Other Language of ETD)
ผลกระทบของโครงการโครงสร้างพื้นฐานที่ได้รับทุนสนับสนุนจาก JICA ต่อปริมาณการค้า: กรณีศึกษาท่าเรือนานาชาติบาตังกัส (ฟิลิปปินส์) และท่าอากาศยานนานาชาติสุวรรณภูมิ (ประเทศไทย)
Year (A.D.)
2024
Document Type
Independent Study
First Advisor
Pathomwat Chantarasap
Faculty/College
Faculty of Economics (คณะเศรษฐศาสตร์)
Degree Name
Master of Arts
Degree Level
Master's Degree
Degree Discipline
Business and Managerial Economics
DOI
10.58837/CHULA.IS.2024.313
Abstract
This study investigates the impact of Japan International Cooperation Agency (JICA) infrastructure funding on trade volume in the Philippines and Thailand, using the Batangas International Port and Suvarnabhumi International Airport as case studies. Using a pooled Ordinary Least Squares (OLS) regression model, the paper analyzes whether JICA-funded developments are associated with increased foreign trade throughput. The model includes control variables such as foreign direct investment (FDI), trade openness, Brent crude oil prices, port or airport capacity, and a country dummy variable to isolate the effect of infrastructure loans.Trade volume data from 1999 to 2023 was collected from the Philippine Ports Authority and the Airports of Thailand. JICA loan data was obtained from project reports and converted to USD using IMF exchange rates. Supporting variables were sourced from the World Bank and JICA documentation. The regression showed that JICA loan amounts had a statistically significant and strong positive effect on trade volume, with each $1 million in JICA funding associated with over 17,000 metric tons in additional trade. FDI, while positively signed, was not statistically significant. Fuel price and trade openness also did not show significant effects. Interestingly, port capacity had a negative coefficient, suggesting that expansion alone does not lead to trade growth if capacity is underutilized.The country dummy variable showed that the Philippines consistently had higher trade volumes than Thailand, even after controlling for other factors. These findings support the idea that development assistance can lead to measurable trade outcomes, but that infrastructure must be matched with operational readiness and demand. The study recommends continued investment in logistics infrastructure through multilateral partnerships, as well as improved coordination and evaluation mechanisms to ensure efficient use of capacity and funding.
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Recommended Citation
Go, Lance Richard Sia, "The impact of JICA-funded infrastructure projects on trade volume: a case study of Batangas International Port (Philippines) and Suvarnabhumi International Airport (Thailand)" (2024). Chulalongkorn University Theses and Dissertations (Chula ETD). 73557.
https://digital.car.chula.ac.th/chulaetd/73557