The pace of capital accumulation in East Asia has simply been stunning. In this paper, we investigate sources of this fast accumulation and make projections for the future to see if the trend is likely to continue. East Asian economies under consideration are the Peoples Republic of China; Hong...

This paper makes a threefold contribution to the underlying dynamic properties and causal effects of energy prices. Firstly, the paper makes a study of the underlying trends to help identify the time series path of nonrenewable energy resources, which can have far reaching consequences for...

Asia as a whole is experiencing a rapid demographic transition toward older populations, though different countries are at different stages of this region-wide trend. We document Asia's aging population, describe the region's old-age support systems, and highlight the regional socioeconomic...

One of developing Asia's foremost structural economic challenges is the need to rebalance demand and growth toward domestic sources in the face of one of its most significant structural shifts - the demographic transition to an older population. The scope for investment-led growth may be quite...

This paper examines the impact of multinational firm entry into local labor markets on employment, productivity, and wages. It exploits a natural experiment associated with the People's Republic of China's rapid economic reforms and assignment of cities to special economic zone status in 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....

The demographic dividend that contributed substantially to economic growth in developing Asia in the past is dissipating. Population aging affects growth through savings, capital accumulation, labor force participation, and total factor productivity. We examined the impact of aging on those four...

Following independence from the former Soviet Union, Tajikistan inherited an extensive social protection system that included a range of cash and noncash benefits. While the economy is well into its transition from a centrally planned to a market-oriented economy, its social welfare policies...

This paper attempts to measure the size of South–South foreign direct investment (FDI) in developing East Asia and the trends in it, and the characteristics of the investing countries and the investments themselves. It also summarizes the findings of studies in individual countries of the...

This paper examines the potential for sector-specific productivity growth, human capital, credit markets, and infrastructure to contribute to the development of stable, well-paid employment in rural areas of low-income countries. Particular emphasis is placed on the way that different sectors of...