This paper seeks to outline issues arising from rapid foreign exchange reserve accumulations in Asia. Attention is paid to People’s Republic of China and India for the significance of the accumulation fed by surges in capital in flows. The paper finds that sterilization interventions by the...

This paper applies two distinct approaches - growth regressions and growth accounting - to analyze the link between infrastructure, growth, and productivity in developing Asian countries. The main conclusion is that a number of countries in developing Asia have significantly improved their basic...