Gauging foreign (domestic) biases as the deviation of foreign (domestic) investors' actual portfolio allocation of a bond market from the same bond market's weight in global bond market, we investigate the determinants of foreign and domestic investment biases in 41 global bond markets. We find...

We present three conditions for a demography-driven middle-income trap and show that many economies in East, South, and Southeast Asia satisfy all of them. The conditions are (1) support ratio - the ratio of workers to consumers - matters for economic growth, (2) economic development accompanies...

We explore the potential roles of industrial policy in the transition from middle-income to high-income status, and the actual experience of industrial policy in emerging economies. Guided by the conceptual framework of the neo-Schumpeterian approach, we look at industrial policy in the context...

This paper examines the factors influencing the gender wage gap by using an unbalanced crosscountry aggregated panel data set for a sample covering 53 economies for the period 1995-2010. Using robust estimators proposed by Lewbel (2012) to correct for heterogeneity and endogeneity, results...

This paper introduces a new index of financial inclusion for 151 economies using principal component analysis to compute weights for aggregating nine indicators of access, availability, and usage. It then assesses the impact of financial inclusion on poverty and income inequality. The results...

Agricultural statistics derived from remote sensing data have been used primarily to compare land use information and changes over time. Nonclassical measurement error from farmer self-reports has been well documented in the survey design literature primarily in comparison to plots measured...

Despite a growing interest in using satellite data to estimate paddy rice yield in Southeast Asia, significant cloud coverage has led to a scarcity of usable optical data for such analysis. In this paper, we study the feasibility of using two alternative sources of satellite data - (i) surface...

This paper analyzes why the Philippines' growth performance has improved significantly in recent years. As in the medium to long term actual growth adjusts to potential, we posit that the reason behind this improvement is that the country's potential growth is increasing. We derive an estimate...

This paper constructs a theoretical model to study labor market regulations in developing countries within the context of structural transformation. When workers are risk averse and the market for insurance against labor income risk is missing, regulations that provide insurance to workers (such...

In this paper, we propose a panel approach in the construction of the Asia-Pacific Regional Cooperation and Integration Index (ARCII) to strengthen the index's ability to track the progress of economic integration in the region over time. Panel-based procedures are employed in imputing missing...