The macroeconomic studies that assess the contribution of international remittances to the origin countries of migrants use a different definition of remittances than the microeconomic literature that examines the impact at the household and community levels. This study overcomes this difference...

This paper provides a comprehensive discussion on different, interconnected methods of using the system of national accounts to measure the relevance of a country's wellness sector to its overall economy. Procedures are discussed for using input-output analysis to derive the production and...

The Asian Development Outlook (ADO) provides growth and inflation forecasts for more than 40 economies in the region. This paper assesses the accuracy of those forecasts against actual outcomes for the years from 2008 to 2011. The World Economic Outlook (WEO) forecasts by the International...

This is done in relation to the benchmark of World Economic Outlook (WEO) projections by the International Monetary Fund. Amid much heterogeneity across countries and years, it has been found that ADO and WEO projections overlap quite closely. Both are inaccurate, especially during crisis years,...

The Asian Development Outlook (ADO) provides growth and inflation forecasts for more than 40 economies in the region. This paper assesses the accuracy of those forecasts against actual outcomes for the years from 2008 to 2011. The World Economic Outlook (WEO) forecasts by the International...

This paper aims to quantify the political risk effect and its different economic implications in normal and crisis situations through the proxy analysis of election and the sovereign bond spreads. Our study leads to three main findings. First, in normal economic situations, elections and...

This paper aims to quantify the political risk effect and its different economic implications in normal and crisis situations through the proxy analysis of election and the sovereign bond spreads. Our study leads to three main findings. First, in normal economic situations, elections and...

While there are growing concerns about population aging, some studies explore the possibility that population aging can give rise to a silver dividend that contributes to economic growth (ADB 2019). While the demographic dividend refers to the increase of the working-age population, the silver...

This paper provides estimates of the impact of demographic change on labor productivity growth, relying on annual data over 1961-2018 for a panel of 90 advanced and emerging economies. We find that increases in both the young and old population shares have significant negative effects on labor...

There is a widespread perception that the Republic of Korea's service sector lags behind its dynamic world-class manufacturing sector. We empirically analyze the past performance of the Republic of Korea's service sector in order to assess its prospects as an engine of growth. Our analysis...