RESEARCH INTERESTSMy research interests is fairly diverse. They cover a number of areas. In what follows, I try to describe the topic I have worked on and those I am either currently working on or are interested to work on in the future.
Industrial Organization
In the late 1990s, my main area of research was the economics of the motion picture industry (Hollywood). Working under the supervision of Professor Arthur De Vany at UC-Irvine, I looked that competition dynamics and the nature of uncertainty in the motion picture industry. Aside from examining the statistical distributions of box office revenues, I undertook computer simulations to uncover the choice and information dynamics that generated such distributions.
Papers:
- De Vany, Arthur and Lee, Cassey (2001) "Quality Signals in Information Cascades and the Distribution of Motion Picture Box Office Revenues," (with Arthur De Vany) Journal of Economic Dynamics and Control, 25:4, pp.593-694
- De Vany, Arthur and Lee, Cassey (2003) "Stochastic Market Structure: Concentration Measures and Motion Picture Antitrust," in Hollywood Economics by Arthur De Vany, London, Routledge
Economics of Regulation
In the mid-1990s, I was asked by my colleague, Professor G.Naidu, to participate in a research project that was part of the World Bank's World Development Report 1994. The focus of our research was primarily the privatization experience in the Malaysian infrastructure sector. It was not until I completed my PhD and upon returning to Malaysia, that I began looking into regulatory issues in Malaysia again. This began with a paper on regulatory reforms in the telecommunications sector (2000- 2002) and later on tariff issues in the water sector (2006-2008). In 2007, I carried out a survey on the state of regulatory governance in Malaysia.
Papers:
- Naidu, G. and Lee, Cassey (1997) "The Transition to Privatization: Malaysia," (with G.Naidu) in Infrastructure Strategies in East Asia: The Untold Story, edited by Ashoka Mody. Washington D.C.:World Bank
- Lee, Cassey (2002) "Telecommunications Reforms in Malaysia," Annals of Public and Cooperative Economics, 73:4, pp.493-519
- Lee, Cassey (2006) "Water Tariffs in Malaysia: Past and Present," Water Malaysia, Vol.12, January
- Lee, Cassey. (2008). “Malaysia,” in Social Policies and Private Sector Participation in Water Supply: Beyond Regulation, edited by Naren Prasad. London: Palgrave Macmillan.
- Lee, Cassey. (2009). “The State of Regulatory Governance in Malaysia,” International Journal of Regulation and Governance, Vol.9, No.1, pp.1-18.
- Lee, Yoong-Hon, Cassey Lee and Hui Boon Tan. (2010). “Malaysia Telecommunications Sector’s Privatization Experience”, Empirical Economics Letters, 9(8):pp. 811-818. August 2010.
- Lee, Cassey. (2011). “Privatization, Water Access and Affordability: Evidence From Malaysian Household Expenditure Data,” Economic Modelling, Vol.28, No.5, pp. 2121-2128.
- Lee, Cassey. (2011). “Privatization of Infrastructure Services in Malaysia,” in Malaysian Economy: Unfolding Growth and Social Change, edited by Rajah Rasiah. Oxford University Press.
- Lee, Cassey. (2011). “Microeconomic Reforms in Malaysia,” in Malaysian Development Challenges: Graduating From the Middle, edited by Hal Hill, Ragayah Mat Zin and Tham Siew Yean. Routledge.
- Lee, Cassey. (2011). “Infrastructure and Malaysian Economic Development,” in Malaysian Economic Development, edited by Mahani Zainal Abidin and Khoo Siew Mun. Kuala Lumpur: ISIS Malaysia.
Competition Policy
I got interested in competition policy when I was working on my PhD thesis. One of my thesis chapter critically examined the use of measures of concentration in the motion picture industry. After completeion of my thesis, I was engaged as an advisor on competition policy to the Ministry of Domestic Trade and Consumer Affairs . In subsequent years, I have written on a number of papers in this area. One of the early topic that I was interested in was the use of template or model competition laws provided by various agencies e.g. World Bank and UNCTAD. Later, I got interested in the influence of legal traditions on how competition laws are drafted in various countries. My more recent work in this area are primarily surveys of competitoon policy in Malaysia and in the Southeast Asia region.
Papers:
- Lee, Cassey (2004) "Regulating Competition in Malaysia," in Leading Issues in Competition, Regulation and Development edited by Paul Cook, Colin Kirkpatrick, Martin Minogue and David Parker. London, Edward Elgar
- Lee, Cassey (2005) "Malaysia," in Competition Policy and Development in Asia, edited by D.H.Brooks and S.Evenett. London: Palgrave Macmillan
- Lee, Cassey (2005) "Legal Traditions and Competition Policy," Quarterly Review of Economics and Finance, Vol.45, pp.236-257
- Lee, Cassey. (2007). “Model Competition Laws,” in Competitive Advantage and Competition Policy in Developing Countries. edited by Paul Cook, Raul Fabella and Cassey Lee. London: Edward Elgar.
- Lee, Cassey. (2010). “Competition and Industrial Policies in Southeast Asia” mimeo.
- Lee, Cassey. (2010). “Competition Policy in Malaysia”, mimeo, Asian Development Bank.
Economics of Innovation
Between 2001-2006, I carried out three three waves of surveys on innovation in the Malaysian Manufacturing sector for MASTIC. I have used some of these data to write a number of empirical papers on the determinants of innovation and more recently, on the relationship between innovation, trade and productivity. My interest is to provide some firm-level econometric analysis on this topic using Malaysian data.
Papers;
- Lee, Cassey (2004) "The Determinants of Innovation in the Malaysian Manufacturing Sector: An Econometric Analysis at the Firm Level", ASEAN Economic Bulletin, 21:3, pp.319-329
- Lee, Cassey and Lee, Chew-Ging. (2006). “Encouraging Innovation in Malaysia: Appropriate Sources of Financing,” Asia Pacific Tech Monitor, May-June. (with Lee Chew Ging). Reprinted in CACCI Journal, Vol.1, 2007.
- Lee, Cassey and Lee, Chew-Ging. (2007). “SME Innovation in the Malaysian Manufacturing Sector,” Economics Bulletin, Vol.12, No.30, 1-12.
- Lee, Cassey. (2008). “The Relationship Between Innovation, Productivity and Exports: Some Preliminary Evidence from the Malaysian Manufacturing Sector,” Economics Bulletin, Vol.12, No.31, pp.1-13.
- Lee, Cassey. (2011). “Trade, Productivity, and Innovation: Firm-Level Evidence from Malaysian Manufacturing,” Journal of Asian Economics, Vol.22, No.4, pp.284-294.
- Lee, Cassey. (2011). “Knowledge Flows, Organization and Innovation: Firm-Level Evidence From Malaysia”, mimeo.
Complexity and Computable Economics
I first got interested in complexity theory or theories about complex adaptive systems after reading Michael Waldrop's book in the mid-1990s. This led to my decision to do PhD at UC-Irvine under the supervision of Arthur De Vany. A key influence in this decision as well as in my subsequent research has been Professor K. Vela Velupillai who encouraged and inspired me to follow the literature on computable economics. Over the years, I have writted a few papers on related to complexity and computability.
Papers:
- Lee, Cassey (2004) "Emergence and Universal Computation," Metroeconomica, 55:2/3, pp.219-238 - republished in Computability, Complexity And Constructivity In Economic Analysis, edited by K.Velupillai. Oxford: Blackwell (2005)
- Lee, Cassey. (2010). “The Most Difficult Questions: A Brief Reflection Inspired by K. Vela Velupillai’s Contributions in Computable Economics, Evolution and Complexity” in Computable, Constructive and Behavioural Economic Dynamics: Essays in Honour of Kumaraswamy (Vela) Velupillai on the occasion of his 60th birthday, edited by Stefano Zambelli. London: Routledge.
- Lee, Cassey. (2011). “Bounded Rationality and the Emergence of Simplicity Amidst Complexity,” Journal of Economic Surveys, Vol.25, No.3, pp.507-526.
History of Economic Thought, Economic Philosophy and Methodology
I have a long standing interest in economic philosophy and methodology. This interested is related to some extent to my work on complexity and economics. I am also interested in the history of how economics have been mathematized.
- Lee, Cassey and Peter J, Lloyd. (2005). "Beauty and the Economist: The Role of Aesthetics in Economic Theory," Kyklos, Vol.58, No.1, pp.65-86.
- Lee, Cassey. (2009). “The Road Taken (and Not Taken) in the Mathematization of Economics,”mimeo.
- Lee, Cassey. (2010). “Graph Theory and Networks,” in Famous Figures in Economics, edited by Mark Blaug and Peter Lloyd. London: Edward Elgar.
- Lee, Cassey. (2010). “Product Exhaustion Theorem,” in Famous Figures in Economics, edited by Mark Blaug and Peter Lloyd. London: Edward Elgar.
- Lee, Cassey. (2011). “Bounded Rationality and the Emergence of Simplicity Amidst Complexity,” Journal of Economic Surveys, Vol.25, No.3, pp.507-526.