Structural change has a far-reaching impact on inequality. It exposes the population to challenges and opportunities. Foreign trade and technological progress have been widely put forth as a structural driver of inequality. Broader structural change, such as demographic transition, can also...

In this paper we empirically investigate the effects on inward FDI of various components of political and financial risk. We also examine the relationship between inward FDI and not only the level of these risks but also their changes over time. Two kinds of findings are noteworthy. One is that...

Advanced economies have a longer history of leveraging fiscal policy to address inequality relative to developing Asia. We examine the country experiences of the Nordic countries, France, Japan, and the US, to draw lessons for developing Asia in its relatively new quest to use fiscal policy to...

Asia as a whole is experiencing a rapid demographic transition toward older population structures. Within this broader region-wide trend, there is considerable heterogeneity, with different countries at different stages of the demographic transition. In this paper, we document Asia’s...

East Asia’s small open economies were hit in varying degrees by the sharp drop in the output of major industrial countries during the global financial and economic crisis of 2008-2009. This highlights the role of monetary policy regimes in cushioning small open economies from adverse external...

Using highly disaggregated, Harmonized System (HS) 8-digit, product-category level data collected by the People’s Republic of China’s (PRC) Customs Office for 2000 and 2008, we perform an in-depth anatomy of the PRC's trade in manufactured goods. First, we distinguish between foreign firms...

The central objective of this paper is to empirically assess how global imbalances have evolved since the global financial crisis of 2008/09. More specifically, we examine how the security investment positions of major East Asian economies in United States (US) financial markets—equities,...

type="main" <p>In this paper, we examine the role of export promotion agencies (EPAs) in promoting exports from Japan and Korea. Looking at two home countries enables us to tackle endogeneity issues by controlling for both country-pair time-invariant characteristics and importing-country...</p>

type="main" <p>In this paper we examine the role of investment promotion agencies (IPA) in promoting outward foreign direct investment (FDI) from Japan and Korea. Looking at two home countries enables us to control for both country-pair time-invariant characteristics and host-country time-varying...</p>

The central objective of our paper is to empirically assess how global imbalances, have evolved since the global financial crisis of 2008–2009. More specifically, we examine how the portfolio investment positions of major East Asian countries in US financial markets — equities, debt...