This paper investigates the channels through which the middle class may matter for consumption growth and development. Determinants of the size and the growth of the middle class are also examined. Using several different middle class measures and a panel of 72 developing countries spanning the...

Using international data starting 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points when their per capita incomes...

This study reviews and analyzes the changes in total factor productivity (TFP) growth in 12 Asian economies – the People's Republic of China; Hong Kong, China; India; Indonesia; the Republic of Korea; Malaysia; Pakistan; the Philippines; Singapore; Taipei, China; Thailand; and Viet Nam – for the...

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...

This paper estimates the gender-specific effects of birthweight on a variety of schooling and labor market outcomes. A unique feature of the study is to use micro evidence on the relationship between birthweight - an early measure of nutritional advantage - and schooling outcomes to make...

Global sea level rise (SLR) variations have undeniably begun to make an impact on highly vulnerable economies. These impacts of SLR are a key component of the projected economic damage of climate change, an important input to climate change policies and adaptive measures. This paper considers...

This paper examines Cambodia's socioeconomic development since the early 1990s peace settlement. The country's economic growth has arguably been the fastest among post-conflict societies, driven by the credible restoration of peace and security, large public and private capital inflows, economic...

This paper estimates the growth impact of disasters, with a focus on developing Asia and its subregions. It finds that severe disasters slow down annual growth in the Pacific island countries by between 1 and 2 percentage points on average. This should come as no surprise, given these economies'...

The finance sector is the lifeblood of any economy and its smooth functioning is central to rapid and inclusive economic growth. A well-functioning financial system must intermediate efficiently between savers and borrowers; manage risks prudently; provide a wide variety of financial services to...

While developing Asia has recovered strongly from the global crisis, the region faces the medium- and long-term challenge of sustaining growth beyond the crisis. The central objective of this paper is to empirically investigate the sources of economic growth in 12 developing Asian economies...