Using an early warning system model, this paper provides empirical evidence on the causes of the 1997 Asian financial crisis, with a view to shedding light on policy lessons. The model shows that there were warning signals of heightened economic and financial vulnerabilities in each of the five...

"Using an early warning system (EWS) model, this paper provides more empirical evidence on the causes of the 1997 Asian financial crisis, with a view to discriminating between the two hypotheses of "weak fundamentals" and "investors' panic." The results show that there are strong warning signals...

The growth performance of small, land-locked Central Asian economies has been among the world's fastest since the 1990s due to high-priced commodities (including oil and natural gas), strategic location, reasonable infrastructure, and human capital. The short-term economic prospects of Central...

This paper presents a coherent and systematic analysis of the collapse and subsequent revival of the Central Asian Republics (CARs) since 1990. The focus is on the pattern of growth and structural change during the cycle of decline and subsequent revival in the CARs, which have yet to be...

This paper examines the relationship between economic growth and environmental sustainability in China by empirically estimating the Environmental Kuznets Curve (EKC) models using provincial-level panel data from 1985 to 2005. The results show that there exists an inverted-U shape relationship...

China has experienced rapid economic growth over the past two decades and is on the brink of eradicating poverty. However, income inequality increased sharply from the early 1980s and rendered China among the most unequal countries in the world. This trend has started to reverse as China has...

This paper looks at the role of governance and institutions in supporting growth and broadening inclusiveness with special reference to developing Asia. While the intrinsic value of good governance and institutions as ends of development in their own right is now universally accepted and...

This paper reviews the theoretical and empirical literature on the role of financial sector development, with a view to deepening understanding of the rationale of development assistance to the financial sector of developing countries. The review leads to the following broad conclusions: (i)...

This paper provides a quantitative analysis of how the changing dual economic structure and urbanization affect inequality in Asia. Focusing on data for four countries — the Peoples' Republic of China, India, Indonesia, and the Philippines — the paper asks three questions. First, how much of...