Economics Working Papers

The Economics Working Papers series is a forum for stimulating discussion on research and policy studies that deal with economic and development problems facing the Asia and Pacific region.

  • 01 Nov 2012 | Publication

    Prospects for Services Trade Negotiations

    Trade and investment in services are difficult to measure, and the regulatory barriers that inhibit the free flow of services are hard to quantify. As a result, very little attention has been paid to dismantling barriers to services trade and investment. Rather, free trade negotiations tend to focus on liberalizing merchandise trade.
  • 01 Nov 2012 | Publication

    Is Timor-Leste's Growth Inclusive?

    The newly independent Timor-Leste has established itself as one of the fastest growing economies in Asia and the Pacific. A concentration of economic activity in the capital has, however, raised the concern that the better off members of society are capturing most of the benefits. This study examines the first decade of the restoration of independence to assess if Timor-Leste's economic growth has been inclusive. Opportunity is found to have been provided to a larger share of the population, with those on lower as well as higher living standards enjoying more opportunity.
  • 01 Nov 2012 | Publication

    Valuing Electricity Service Attributes: A Choice Experiment Study in Madhya Pradesh, India

    This paper presents the results of a choice experiment study undertaken to value electricity service attributes in Madhya Pradesh, India. Primary data was collected from 2,083 households using stratified random sampling method. Results show that existing service is very poor and consumers have substantial willingness to pay (WTP) for changing the status quo. Amongs the studied service attributes, hours of supply captures the highest WTP and WTP declines significantly with reduced hours of supply.
  • 24 Oct 2012 | Publication

    Reducing Disparities and Enhancing Sustainability in Asian Pension Systems

    The paper highlights the need to undertake systematic pension reform to provide affordable, adequate, and sustainable economic security to Asia's large and growing elderly population.
  • 01 Oct 2012 | Publication

    Adoption of CFLs and Electrical Lighting Usage in Pakistan

    The widespread adoption of compact fluorescent light bulbs (CFLs) have been advocated on the premise that it will result in significant savings in electricity and reduced carbon emissions. Using a household level survey of electrical lighting and usage in Pakistan, we examine the decision to adopt CFLs and the subsequent impact of CFL adoption on electricity usage. CFL adoption is significantly influenced by variables that proxy for income and the perceived expectations about the life span of CFLs.
  • 01 Oct 2012 | Publication

    Ending 'Too Big To Fail': Government Promises versus Investor Perceptions

    Can a government credibly promise not to bailout firms whose failure would have major negative systemic consequences? Our analysis of the Republic of Korea's 1997-1999 crisis, suggests an answer: No. Despite a general "no bailout" policy during the crisis, the largest Korean corporate groups (chaebol)-facing severe financial and governance problems-could still borrow heavily from households through issuing bonds at prices implying very low expected default risk.
  • 01 Oct 2012 | Publication

    Government Fiscal Policies and Redistribution in Asian Countries

    This paper assesses the impact of government fiscal policies on income inequality in Asia.
  • 01 Oct 2012 | Publication

    A Note to Schooling in Development Accounting

    How much would output increase if underdeveloped economies were to increase their levels of schooling? We contribute to the development accounting literature by describing a non-parametric upper bound on the increase in output that can be generated by more levels of schooling. The advantage of our approach is that the upper bound is valid for any number of schooling levels with arbitrary patterns of substitution/complementarity.
  • 01 Sep 2012 | Publication

    On Measuring Human Capital: A Case Study of Viet Nam

    This study develops a productivity-based single measure of human capital, taking account different levels of education and productivity differentials across workers. Using this new measure, the paper presents empirical estimates of human capital in Viet Nam and compares the stock of human capital contributed by vocational and general education. It also deals with equity in human capital particularly as contributed by vocational education, and measures this equity across income quintiles and various socioeconomic and demographic groups in Viet Nam.
  • 01 Sep 2012 | Publication

    Do Contagion Effects Exist in Capital Flow Volatility?

    The paper aims to assess what influences volatility of capital flows to emerging countries and whether or not there is a spillover or contagion effect in the volatility. The empirical results suggest strong and significant contagion effects from global and regional volatilities on the volatility of capital flows in different types to individual economies. The evidence of contagion from global and regional volatilities implies that there is a strong need for global and regional policy cooperation to contain the spillover or contagion effects.