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...

Climate-related natural disaster shocks are expected to rise as the earth is getting warmer, which will adversely affect growth prospects globally. Current robust estimates of the effects of typhoons and droughts point to both short- and long-term declines in national incomes compared to...

Using the Burke, Hsiang, and Miguel (2015) framework, we examine the nonlinear response effect of economic growth to historic temperature and precipitation fluctuations. We confirm that aside from the significant effect of rising temperature on agricultural production, industrial production and...

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...

Over the last decade, developing Asia's deeper global financial linkages have been accompanied by greater financial integration. As the region becomes more interconnected, a key priority is to ensure that the dynamic environment is supported by better coordinated and potentially consistent...

The provision of infrastructure and related services in developing Asia via public–private partnership (PPP) increased rapidly during the late 1990s. Theoretical arguments support the potential economic benefits of PPPs, but empirical evidence is thin. This paper develops a framework...

Developing Asia's infrastructure gap results from both inadequate public resources and a lack of effective channel to mobilize private resources toward desired outcomes. The public–private partnership (PPP) mechanism has evolved to fill the infrastructure gap. However, PPP projects are often...

During 2000–2006, nearly 4,000–5,000 new foreign and domestic enterprises entered the export industry of the People's Republic of China (PRC) yearly, with geographic concentration along the coastal areas. This paper empirically analyzes the spatial determinants of new entrants by applying...

The European Union (EU) has traditionally been an important economic partner for Asia. In addition to absorbing a significant share of the region's exports, the EU has been a major source of foreign direct investment and other capital flows into the region. In light of such close economic...

The three pillars of Asian energy security are an adequate, reliable supply; environmental sustainability; and affordable access for all. As Asians become more affluent, managing demand by tackling outmoded subsidies so prices reflect true costs, exploring green innovations in technology and...