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...

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...

There is a widespread perception that the Republic of Korea's service sector lags behind its dynamic world-class manufacturing sector. We empirically analyze the past performance of the Republic of Korea's service sector in order to assess its prospects as an engine of growth. Our analysis...

This paper estimates the gender-specific effects of birthweight on a variety of schooling and labor market outcomes. A unique feature of the study is to use micro evidence on the relationship between birthweight - an early measure of nutritional advantage - and schooling outcomes to make...

The underdeveloped service sector in Asia has the potential to become a new engine of economic growth for developing Asia, which has traditionally relied on export-oriented manufacturing to power its growth. The central objective of this paper is to empirically analyze the prospects for the...

This study examines gender inequality in labor markets in Asia and the Pacific, with a focus on the structural drivers of women's labor force participation. Demographic survey data indicate that in Asia's lower-income countries, economic necessity is an important push factor behind women's...

The maturing of the manufacturing sector in many Asian countries, combined with the relative backwardness of its service sector, has made service sector development a top priority for developing Asia. Our central objective is to broadly survey and analyze the current landscape of the region's...

This paper assesses the impact of government fiscal policies on income inequality in Asia. It discusses the role and effectiveness of redistributive fiscal policies and quantifies the effects of taxation and government expenditure on income distributions. Panel estimation for 150 countries with...

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...

This paper assesses the impact of government fiscal policies on income inequality in Asia. It discusses the role and effectiveness of redistributive fiscal policies and quantifies the effects of taxation and government expenditure on income distributions. Panel estimation for 150 countries with...