Developing Asia has weathered the global economic crisis well and is experiencing a rapid, robust V-shaped recovery. According to conventional wisdom, the fiscal stimulus packages put in place by the region’s governments played a key role in the region’s superior postcrisis performance. The...

As the global crisis hit developing Asia, several countries instituted fiscal stimulus measures to create domestic demand. With the region returning to normal times, in this paper we draw lessons using historical data from 10 developing Asian countries to examine if countercyclical fiscal policy...

Fiscal stimulus programs have contributed substantially to developing Asia’s faster and stronger-than-expected recovery from the global financial crisis. This may lead to political pressures for greater use of countercyclical fiscal policy in the postcrisis period. However, the countercyclical...

This paper assesses the effects of fiscal policy on both equity and growth, specifically whether it is possible to design fiscal spending so that it enhances equity without sacrificing economic growth and vice versa. A cross-country panel vector autoregression (PVAR) using the World Development...

Advanced economies have a significantly longer history of using fiscal policy to tackle inequality and promote inclusive growth than those in developing Asia. Therefore, as developing Asia explores the more active use of fiscal policy for inclusive purposes, it can learn from the experiences of...

In recent years, inequality has risen in the region alongside rapid economic growth. The widening income gap strengthens the case for a government response, and fiscal policy is one of the most suitable policy instruments to promote a more equitable society that provides opportunities for all....

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...

We conduct an empirical analysis on the impact of the United States (US) antidumping actions against the People’s Republic of China (PRC) on the bilateral trade and US imports from other trade partners. Using the data set based on the Harmonized System (HS) tariff code, we examine the trade...

Population aging is a global phenomenon but what sets Asia apart is the sheer scale and speed of its aging. Pension systems will have to play a bigger role but in most Asian countries pension systems are still underdeveloped, fragmented, and poorly financed. Asian countries need to embark on...

The maturing of the manufacturing sector in many Asian countries, combined with the relative backwardness of its service sector, has made service sector development a top priority for developing Asia. Our central objective is to broadly survey and analyze the current landscape of the region’s...