The ADB Economics Working Paper Series is a forum for stimulating discussion and eliciting feedback on ongoing and recently completed research and policy studies undertaken by the Asian Development Bank (ADB) staff, consultants, or resource persons. The series deals with key economic and development problems, particularly those facing the Asia and Pacific region; as well as conceptual, analytical, or methodological issues relating to project/program economic analysis, and statistical data and measurement. The series aims to enhance the knowledge on Asia's development and policy challenges; strengthen analytical rigor and quality of ADB's country partnership strategies, and its subregional and country operations; and improve the quality and availability of statistical data and development indicators for monitoring development effectiveness.
Globalization, Labor Market Regulation, and Firm Behavior
The paper analyzes the link between firm characteristics and labor market regulation in five Asian economies - Bangladesh, Indonesia, Pakistan, the Philippines, and Viet Nam. Labor market policies and labor standards do not only affects workers, but also influence firms' investment and employment decisions. The empirical analysis uses information from enterprise surveys. Empirical results describe systematic differences in the perceived level of labor market regulation.
Housing and Housing Finance - A Review of the Links to Economic Development and Poverty Reduction
The paper provides a review of the literature that links housing, housing finance, and economic development. The housing sector may support poverty reduction and inclusive growth in two general ways. First, housing construction contributes to economic output, creates employment, and generates a demand for materials and related services. Second, improved housing raises the standard of living of occupants.
Agriculture and Structural Transformation in Developing Asia: Review and Outlook
Relative to other developing regions, developing Asia has experienced a slower decline in employment share in agriculture, compared to its output share; a rapid growth in labor and land productivity; and a shift from agricultural output from traditional to high-value products. The most successful Asian economies have pursued an agricultural development-led industrialization pathway. Nevertheless, agriculture remains the largest employer in many large Asian countries, hence future structural transformation must take into account agricultural transformation.
Empirical Determinants and Patterns of Research and Development Investment in Asia
This paper investigates the financial determinants of research and development (R&D) investment in Asia, where innovation is naturally seen as the key driver of future (high) economic growth. Listed nonfinancial firms from eight economies in region (the People's Republic of China; Hong Kong, China; India; Indonesia; the Republic of Korea; Malaysia; the Philippines; and Singapore) are sampled for the period 2002-2011 using the Oriana database.
Development Imperatives for the Asian Century
Despite Asia’s remarkable economic success in the last half century, income inequality has worsened substantially and the region has become the world’s leading emitter of greenhouse gases. Should Asia simply continue on its established growth path? How can Asian governments pursue growth strategies that are socially inclusive and environmentally sustainable?
Determinants of Urbanization
In light of the United Nation’s latest urbanization projections, particularly with respect to the People’s Republic of China and India, a good understanding is needed of what drives aggregate urbanization trends. Taking advantage of the latest UN World Urbanization Prospects, this paper uses an instrumental variables approach to identify and analyze key urbanization determinants.
Climate-Related Disasters in Asia and the Pacific
This paper considers three main disaster risk factors behind the increased frequency of intense natural disasters—rising population exposure, greater population vulnerability, and increasing climate-related hazards.
Intellectual Property Rights, Quality of Institutions, and Foreign Direct Investment into Developing Asia
Developing Asian countries are strengthening their intellectual property rights regime as they themselves become producers of intellectual property. At the same time, developing Asia has attracted large amounts of foreign direct investment and this trend is expected to continue in light of the region's strong growth prospects. In this paper, the relationship between intellectual property rights and foreign direct investment in developing Asia is explored.