Do Local Currency Bond Markets Enhance Financial Stability?
This publication analyzes the financial vulnerability of developing countries during the global financial crisis.
Skewed Credit and Growth Dynamics after the Global Financial Crisis
This working paper explores the association between economic growth and systemic financial risk, using elements of private credit growth to measure the latter.
Determinants of Public–Private Partnerships in Infrastructure in Asia: Implications for Capital Market Development
A well-functioning corporate bond market in developing countries can offer long-term financing to public–private partnership investments in infrastructure development.
Foreign and Domestic Investment in Global Bond Markets
Foreign investors seem more sensitive to risk–return profile than domestic investors, especially in emerging markets, and are also attracted by greater market openness and sound sovereign credit ratings.
Human Capital Spending, Inequality, and Growth in Middle-Income Asia
This paper uses National Transfer Accounts data to analyze the effect of human capital investment in Asian countries on economic growth, inequality, and fiscal balance.
Asia’s Middle-Income Challenge: An Overview
This paper explores key developmental challenges facing middle-income Asian economies, and puts forth concrete policy options for tackling those challenges.
The Landscape of Economic Growth: Do Middle-Income Countries Differ?
The efficiency of the financial system is related to the growth rate in low- and middle-income countries, but appears to matter less as one moves up the income scale.
Governance, Vulnerability to Climate Change, and Green Growth: International Evidence
Examining the role of governance and vulnerability to climate change in green growth using a global panel data set, findings suggest promoting good governance and reducing climate change vulnerability can contribute to a cleaner environment.
Effects of the People’s Republic of China’s Structural Change on the Exports of East and Southeast Asian Economies
The People’s Republic of China’s structural transformation from an export- and investment-led economy to a domestic demand- and consumption-led economy is likely to have a significant impact on its import structure.
Determinants of Consumer Price Inflation versus Producer Price Inflation in Asia
This paper investigates the extent to which inflation in 10 Asian economies reflects cost-push inflation or other factors such as excess aggregate demand or inflationary expectations.