The emergence of biofuel as a renewable energy source offers opportunities for climate change mitigation and greater energy security for many countries. At the same time, biofuel represents the possibility of substitution between energy and food. For developing countries like India, which...

"William E. James and Shiela Camingue examine the composition and prospects for growth of net exports of the United States (US) to the world and to developing Asia. They find that much of the apparent shift in export product shares was a result of the worldwide collapse in demand for...

This study examines the differences in the effectiveness of de jure capital restrictions across economies in different regions (Asia versus non-Asia) and with varying income levels. It uses a panel of 45 economies over the period 1995– 2007. The results show that differences in regional and...

This paper simulates the impact of a short-term shock originating from the global financial system on small open economies in the Association of Southeast Asian Nations (ASEAN). The simulation uses empirically estimated general equilibrium models for Indonesia, Malaysia, the Philippines, and...

Developing Asia's rapid economic growth has been shifting the global economic and industrial centers of gravity away from the North Atlantic, raising the importance of Asia in world trade, and boosting South–South trade. How will trade patterns change over the next 2 decades in the course of...

The central objective of this paper is to empirically evaluate the degree of linkages among East Asian equity and bond markets. The primary contribution of our paper to the empirical literature is that we use a financial gravity model grounded in economic theory. Using data from the...

Regional corridors are popular components of regional cooperation initiatives and have been in use for several years. Yet discussion about development of these corridors tends to be relatively general in scope and difficult to pin down in terms of content and implications. This paper elaborates...

Applying the Institutional Model of Decentralization, the paper argues that the presumption that local democracy will impose accountability pressure on elected officials does not always hold. Even in a democratic system like in Indonesia, decentralization policy is welfare-enhancing only for the...

We describe the complex support systems in Asia and highlight their importance for economic growth and fiscal sustainability. Familial transfers for old age support are significant in many Asian economies, though their extent varies quite widely, and public transfer systems are less significant....

This study documents empirical regularities related to structural changes in the exporting pattern and degree of competitiveness in selected Asian countries in the decade following the 1997 Asian crisis. We conceptually illustrate that the degree of competitiveness is determined by...