We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With...

This paper uses civil conflicts in Southeast Asia to illustrate the economic causes and consequences of the conflicts on the economy. It argues that the causes of conflicts in this region are consistent with what predicted by theories that link economic growth and inequality to the motives and...

This paper provides narrative background on economic and political development of the 11 countries in Southeast Asia. It shows that post-World War II development experience, economic policies, and current economic performance in each country have deep historical roots, at least back to the...

This paper analyzes macroeconomic growth of the economies in Southeast Asia since the end of the Second World War. It argues that there appears a convergence in development strategy among the economies in this region in recent decades. With few exceptions, every economy in Southeast Asia has...

The Thai economy has been underperformed during the last decade. The average annual GDP growth during 2007-2016 was merely 3.2 percent. Not only was this growth rate one of the lowest among all of the economies in Southeast Asia, it was also far below what Thailand experienced during the...

This chapter discusses natural disasters and their impacts on economic development of Southeast Asia. Natural disasters generally lead to capital decumulation, have impacts on total factor productivity, and involve vulnerability of people living in the economy. Their effects could persist in the...

We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With...

Financial liberalization has been a controversial issue as there is little empirical evidence for its positive effects on economic growth. However, we find sizable welfare gains, 1 to 28 percent of permanent consumption though, consistent with the literature, the gain in the economic growth is...