Inclusive growth should ensure "broad-based" economic growth which characterizes the pattern of growth. Beyond simple association identification implied by the Kuznets curve and cross-country panel regression analyses, this study attempts to shed light on the dynamic causality relationship and...

We describe and assess two dimensions of the current state of bond market development in developing Asia: the role of bond markets in overall financial systems and a comparison of the salient features of bond market development in developing Asia and other regions. We highlight key drivers and...

Although it is well-known that a global trade regime best ensures economic welfare, there has nevertheless been a proliferation of free trade agreements (FTAs) between individual countries. This poses the challenge known as the "noodle bowl effect" - stemming from different rules of origins and...

A sound and efficient financial system is an indispensable ingredient of economic growth. It consists primarily of banks and capital markets, which channel savings into investments and other productive activities that contribute to economic growth and augment the economy's productive capacity....

This paper provides an analysis of financial development and inclusion in developing Asia using data from a wide array of sources. We show that in terms of aggregate measures of financial development, the region as a whole has superior banking sector depth compared to other developing regions;...

This paper attempts to provide a clear and comprehensive picture of trade integration in Asia, using a trade linkage diagram. The paper reviews four types of indicators (share, intensity, homogeneous intensity, and introversion index) and argues that the introversion index is the most suitable...

Governance is one of the key factors that shape the economic performance of an economy in terms of economic and trade growth. However, accurately measuring the quality of governance is not an easy task. Research typically uses governance indicators from surveys, which may have biases and...

In the postglobal financial crisis period, the central banks of the advanced economies pursued unconventional monetary policies, such as the United States (US) Federal Reserve's quantitative easing (QE). Those policies and their unwinding may significantly affect cross-border capital flows and...

Developing Asia's financial depth as a whole compares favorably with other parts of the developing world, but there are wide variations across subregions and economies. This paper examines the key features and reform priorities of the financial systems in Bangladesh, Cambodia, Georgia, Mongolia,...

This study examines the role of special economic zones (SEZs) within the trade policy of Cambodia. It asks whether Cambodia's establishment of SEZs since late 2005 has been successful, based on the evidence to date, and analyzes the appropriate role and management of SEZs over the next decade or...