A decade has passed since the Asian crisis of 1997-1998 which decimated many of the regional economies. While the crisis itself led to severe economic and political consequences, its primary cause was an inappropriate mix of policies, as regional economies attempted to simultaneously maintain...

We examine the ecurren;ect of the United States-Singapore Free Trade Agreement (FTA) on the value of frms listed in the Singapore Exchange using event study analysis. Despite the predictability of the FTA negotiation, we find that one event - the removal of the last obstacle to the free trade...

This paper examines the effect of the length of the school year on some educational- and labor outcomes. Using the policy-induced long school year in Indonesia in the late 1970s as a natural experiment, I show that the long school year lowers grade repetition in primary school and increases...

This paper examines the association between the intensity, timing, and persistence of personal history of mobility on individual support for redistribution. Using both rounds of the Life in Transition Survey, the paper builds measures of downward mobility for about 57,000 individuals from 27...

Regulators in developing countries may not have access to timely ex-post verifiable information regarding banks' capital or investment decision. This paper examines whether, in such an environment, regulators can enforce capital requirements. Using a model of a relationship between a regulator...

This paper presents a new technique for the empirical analysis of some capital market ratios and stock valuation. We first show how capital market ratios (such as the price to earning ratio) can be plotted in a constructed stock valuation box. Within the box we can also plot the contours of...

We examine the relationship between banks' types of ownership and banks' efficiency using Greene's quot;truequot; panel data stochastic frontier model. We find that, even after taking unobserved heterogeneity more properly into account, state-owned banks in Indonesia are the least efficient...

Does financial health shore up firm productivity? This paper empirically investigates this question and presents productivity as another driving factor in translating financial development into real economic progress. Our empirical framework employs Levinsohn and Petrin's (2003) semi-parametric...