This study investigates how development of the local currency (LCY) bond market brings stability in the financial market. The analysis is based on annual economy panel data set for 1989-2020. The main findings are as follows. First, exchange rate volatility is lower during crisis periods if an...

How did developing Asian economies perform with respect to tax revenue mobilization before and during the coronavirus disease (COVID-19) pandemic? An analysis of data from developing Asia suggests that both short-run and long-run tax buoyancies, a measure of how tax revenue responds to gross...

Severe disruptions in school education during the coronavirus disease (COVID-19) pandemic has impacted children through their formative years which will affect their employment opportunities and earning potential for many years after school ages. This paper examines the medium-to-long-term...

This paper investigates the dynamic impact of social distancing policy on coronavirus disease (COVID-19) infection control, mobility of people, and consumption expenditures in the Republic of Korea. We employ structural and threshold vector autoregressive (VAR) models using big-data-driven...

Throughout 2020, national and subnational governments worldwide implemented nonpharmaceutical interventions (NPIs) to contain the spread of coronavirus disease (COVID-19). These included community quarantines, also known as lockdowns, of varying length, scope, and stringency that restricted...

We present a simple model of internal and external balance that incorporates the key features of resource-rich developing countries (RRDCs). The main result is that "government take", which is the ratio of fiscal resource revenue to resource output, is a key determinant of the equilibrium real...

Matching grant programs administered to agricultural groups and cooperatives have emerged as a means of helping smallholder farmers to commercialize in Nepal. These programs help farmers to access information on new technologies, overcome barriers to productive investment, and connect with...

Papua New Guinea (PNG) has faced a foreign exchange (forex) shortage since 2015. To protect reserves, the Bank of PNG has resorted to forex rationing that led to a large backlog of orders and import compression. This paper surveys the structure of PNG's forex market and analyzes recent market...

The paper applies quantile regression technique, specifically, quantile vector autoregression to stochastic debt sustainability analysis (DSA) and the construction of public debt fan charts. Stochastic approach to DSA typically uses standard ordinary least squares vector autoregression (OLS VAR)...

The distributional impacts of fiscal policies are instrumental in reducing inequality in countries like the Philippines, where inequality has been persistently high. This paper assesses how equitable various taxes and transfers in the Philippines are by deriving the elasticities of Atkinson and...