The availability of bilateral capital flows between countries has given rise to a number of papers attempting to understand trends and determinants of capital flows between country pairs. Almost without exception, the papers find that the gravity model fits the data quite well. Specifically,...

This paper examines intra-Asian FDI flows using bilateral data over the period 1990 to 2005. Does the so-called distance puzzle that has characterized trade and FDI based gravity models exist in the case of intra-Asian FDI flows as well? And if so, to what extent can it be explained by...

This book consists of 20 short essays on different dimensions of international economic policy with specific (though not exclusive) focus on Asia. Topics covered include: exchange rate regimes and reserve buildup in Asia; global macroeconomic imbalances; financial sector liberalization;...