New Financial Reforms and Their Effects on Emerging Asia
The global financial crisis of 2008/09 has prompted a reassessment of financial regulation and supervision. Many note that regulatory changes in the global financial system inevitably slow financial innovation and economic growth. Will a wave of regulation and reform in the wake of the crisis also limit the ability of financial institutions to innovate? What are the likely implications for relatively underdeveloped emerging Asian economies?
Economic Growth in Asia: Determinants and Prospects
This paper finds that developing Asia'e economic growth over the past 3 decades was due to robust growth in capital accumulation, while the contributions of education and total factor productivity remain relatively limited.
Human Capital Accumulation in Emerging Asia, 1970-2030
To sustain the region's human development in the next 20 years, Asian economies must invest in increasing enrollment rates at the secondary and tertiary levels and in improving educational quality.
Closing Development Gaps: Challenges and Policy
To close significant income and nonincome development gaps around the world, governments must go beyond policies that simply increase economic growth. They have to include policies that close nonincome development gaps directly.
The Ties that Bind Asia, Europe, and United States
This paper investigates changes in Asia’s regional and global trade linkages and their influence on macroeconomic relationships among Asia, Europe, and the United States.
Developing Indicators for Regional Economic Integration and Cooperation
This paper presents indicators and develop new ones to find that regional interdependence in trade, investment, financial flows, tourism, and other social and political variables have increased significantly among East Asian economies.
Emerging Asia: Decoupling or Recoupling
Real economic interdependence between emerging Asia and industrial countries increased significantly in the post-crisis period, suggesting recoupling rather than decoupling.
The Optimal Structure of Technology Adoption and Creation: Basic Research vs. Development in the Presence of Distance to Frontier
This paper explains the observation that a country in which the level of technology approaches the technology frontier tends to rely more on technology creation than adoption, and to invest more in basic research than in development.
Crises in Asia: Historical Perspectives and Implications
The paper analyzes the stylized features of historical crisis episodes for 21 developing Asian economies over 1961–2007.
Technological Change, Human Capital Structure, and Multiple Growth Paths
This paper explores the effects of technology change on growth rates of human capital and income. New technologies with more uncertain characteristics may adversely affect human capital accumulation and income growth.