This paper reviews the process of structural transformation (ST) across a wide range of Asian economies. After outlining key theories of ST, it documents Asia's transformation and compares it with patterns observed elsewhere, using standard indicators and broader dimensions of structural change....

This paper examines the interplay between financial inclusion and FinTech in shaping banking stability, with a focus on economies in the Asia and Pacific region. Using an unbalanced panel dataset from 21 economies from 2000 to 2021, the paper finds that financial inclusion enhances banking...

Asia presently houses some of the top and dynamic economies in the world. These economies have also experienced high fintech adoption in their banking sectors. This paper examines the impact of fintech adoption and integration on the efficiency and stability of banks in 9 Asian countries, using...

Structural transformation is widely recognized as a key driver of productivity growth and economic development, with industrial policies often playing a crucial role in this process. However, the challenge of premature deindustrialization-where economies experience a decline in manufacturing's...

Global value chains have recently changed structurally ("servicification")-that is, service sectors' involvement in global value chain processes has become more intensive. We quantify services trade restrictions' contribution to underdevelopment of global value chain servicification across Asian...

We establish a positive relationship between work from home (WFH) and fertility, drawing on our Global Survey of Working Arrangements (38 economies, N = 19,241) and our US Survey of Working Arrangements and Attitudes (N = 102,411). Respondents who WFH at least 1 day per week had more biological...

Central Asia has emerged as a key region where the convergence of geopolitics and development cooperation is most visible. Major powers are redefining their approaches: Japan combines official development assistance (ODA) with commercial partnerships to advance connectivity and reform; the EU is...

Background: Emerging Asian economies face a critical policy dilemma: macroeconomic and sustainability factors affect high-performing and struggling logistics exporters in fundamentally different ways. Methods: Analysing transportation trade data from China, South Korea, India, Vietnam, Malaysia,...

This paper explores how the evolving platform economy is reshaping the economic landscape across Asia and the Pacific, and how countries in this diverse region are navigating emerging opportunities and challenges. It situates platform work within the broader context of the region's economic...

By constructing a unique international database on generalized trust covering 142 countries worldwide for 41 years from 1980 to 2020, this paper finds a pronounced intertemporal variation of generalized trust over time in a majority of countries across the globe. When analyzing the time series...

This study examines the interplay between extreme temperatures and air pollution risks, the geographic and temporal distribution, as well as the population burden of climate shocks in Bangladesh, Indonesia, Pakistan, Thailand, and Viet Nam-countries severely impacted by climate change. Using...

Climate-related and other natural disasters, such as droughts and floods, have a significant impact on agricultural producers and pose substantial risks and costs to agricultural lenders. This study aims to assess how FIs with a sizable agricultural loan portfolio manage credit risk arising from...

Since their inception in 1987, debt-for-nature swaps (D4NS) have emerged as a popular policy tool to simultaneously address sovereign debt burdens and environmental challenges. Drawing on a newly constructed database of global D4NS transactions, this paper shows that Asian economies have played...

Public support for climate policies that improve the region's resilience is crucial given climate risks. This paper contains the analysis of data from 13,547 respondents across 14 Asian economies, following a survey completed in July 2024. The analysis reveals widespread climate concern (91% of...

As the EU and Asia are deepening their cooperation, in the framework of the Sustainable Development Goals (SDGs), we are honoured to have been able to bring together such valuable expertise from both continents. The main aim of this report is to contribute to informed and relevant discussions...

Singapore in the History of British North Borneo : an Examination of Singapore as Centre to the Region / Danny Tze Ken Wong -- China, Entrepo??t Trade, and Singapore Chinese Merchants, 1945-65 / Jason Lim -- Trading Hub Beyond Ideologies : Singapore-North Korean Economic Connection and Mission...

This study is a novel attempt to analyze the patterns and trends of urbanization in medium to large cities in Central Asia. It encompasses a broad range of parameters, and employs an evidence-based approach to outlining strategic directions and actions for fostering green and resilient urban...

Can developing economies achieve growth that benefits everyone and protects the planet? This report explores how low- and middle-income countries (LMICs) can achieve inclusive and sustainable economic transformation (ISET) - where economic growth benefits all of society and protects our planet....

Greater Asia is emerging as a major factor in the global energy transition. This shift is associated with growing independence from external actors such as the European Union and the United States, with unfolding developments increasingly concentrated within the region itself. Key trends include...

This paper uses results from leading biophysical models in an established macro-economic modeling framework to offer insights on potential economic consequences of climate change in Asia and the Pacific. The analysis covers shocks in agriculture, fisheries, forestry, energy demand, capital (from...

Purpose - This paper aims to obtain a recent estimate of the cost of precautionary foreign reserve accumulation that emerging market and developing economies (EMDEs) had to endure to protect themselves against the risks of financial globalization. In addition, the study estimates the cost of...

Timely updates of business cycle fluctuations-commonly represented by movements in the output gap-help policymakers make informed decisions on the appropriate course of action. Unfortunately, business cycle assessments often suffer from lags in actual gross domestic product data releases. This...

Geopolitics is an overarching characteristic of much of this outlook for the key themes in the global energy economy in 2025. The start of Donald Trump’s second term in the White House will herald new pressures to multiple layers of the global economy, from trade to labour, monetary policy to...

Amid escalating climate risks and uneven decarbonization trajectories, understanding the distributional determinants of greenhouse gas (GHG) emissions is essential for guiding Asia toward equitable and sustainable development. Anchored in the Environmental Kuznets Curve framework and the...

The current study extends the existing literature by exploring the moderating role of governance in the association between natural resources and economic growth. Using a large range of periods (1996-2019) of 48-Asian economies as a sample, this study employs the system GMM and FMOLS models to...