We explore dynamic linkages between financial/banking sector openness, financial sector competition, and growth. We first develop an analytical model, highlighting links between long-run economic performance and services trade, through scale economies and market and cost structures in the...

This paper reviews the theoretical and empirical literature on links between domestic financial development and economic growth. It starts with the pioneers in this field and then classifies two main schools favouring liberal financial regimes. First McKinnon and Shaw advocated financial...

The paper argues that there are important links between asset prices and public finances which can strongly affect the variability of fiscal balances. Asset prices affect fiscal balances via capital gains and turnover related taxes, and via wealth effects on consumption and indirect taxes. The...

This paper conducts a comprehensive analysis of the fiscal costs of financial instability (defined as major asset price changes and including, as extreme cases, financial crises). The study identifies three channels to fiscal accounts: 1) revenue effects on capital gains, asset turnover and...

This paper takes the non-tariff measures (NTMs) codified and collected under the MAST (Multi-Agency Support Team) typology to study their economic effects, concentrating on the effects on prices, quantities and welfare. To this end, NTMs are categorized into six groups (tariff-like measures,...

An increasing services orientation is likely to be a key feature of the economies of the Association of Southeast Asian Nations (ASEAN), the People's Republic of China, and India (collectively referred to as "ACI") over the medium-term. This paper aims to present a compendium of relevant data on...

We use newly collected data on trade and production in 178 countries to infer estimates of trade costs in agriculture and manufactured goods for the 1995-2010 period. The data show that trade costs are strongly declining in per capita income. Moreover, the rate of change of trade costs is...

Extensive research has demonstrated the existence of large potential welfare gains from trade facilitation - measures to reduce the overall costs of the international movement of goods. From an equity perspective an important question is how those benefits are distributed across and within...

Extensive research has demonstrated the existence of large potential welfare gains from measures to facilitate trade - reduce trade costs - for African countries in particular. However, concerns have been expressed by policymakers regarding the distribution of the benefits and costs of trade...

This paper studies the impact of migrant children on their parents' occupation choice and wage income using a dataset from a household survey conducted in 2011. We find that the heads of migrant households with school-age children earn significantly less than those who left them at their place...