This paper argues that while informal institutions in developing countries are effective in facilitating exchange, without complementing formal institutions it will constrain their prospects of business growth. Ample research studies made in this field suggest that social networks are one of the...

How can labor-intensive industries in middle-income countries avoid the ‘middle-income trap’ and evolve as dynamic industries? This article addresses this question by focusing on the local garment industry in Thailand. Thailand's garment industry became fully integrated into international...

"The book is a key reading which provides a comprehensive and systematic overview of the contemporary Asian economy. The book focuses on the structural changes that are rapidly transforming the regional economic landscape in the 21st century. It highlights the concomitant challenges that have...