We empirically examine and compare the determinants of producer and consumer price inflation in 10 Asian economies during 2000–2015. In this connection, we also investigate the pass-through of global oil prices, global food prices, and exchange rates to domestic producer and consumer prices....

Deflation has emerged as a new concern for Asian policy makers. The traditional view is that deflation can lead to a vicious cycle of falling demand and prices, and is thus a dangerous condition. However, another school of thought emphasizes the role of positive supply shocks and takes a more...

This paper examines underlying factors that could explain the decline in income inequality in the People's Republic of China (PRC) since 2008 and inquires whether the decline indicates that the PRC's income inequality has peaked following the Kuznets hypothesis. The paper first identifies four...

Potential output growth generally decelerated after the global financial crisis during 2008–2009. This paper examines the possible determinants of potential output growth using Bayesian Model Averaging and assesses how the determinants can be used to increase the growth of potential output. It...

While structural transformation, driven by technological progress, productivity growth, and capital deepening, has contributed to Asia's sustained rapid growth, its effect on income inequality is uncertain. The central objective of our paper is to empirically examine the effect of structural...

This study addresses the debate on whether high-speed railroad (HSR) polarizes or balances economic geography. We find that both can occur: while the service sector tends to agglomerate, the manufacturing sector may decentralize; moreover, economic activities may agglomerate from distant areas to...

This paper investigates the role of “absorptive capacity” to manage unexpected shocks to their real economy, with a focus on small, open, natural resource-dependent economies. A quarterly panel data series for 45 countries is constructed, including 23 developing Asian countries for empirical...

Contingent claims analysis applied to Indonesia, Malaysia, the Philippines, the Republic of Korea, and Thailand shows no particular vulnerability to sovereign debt distress during recent years. However, the highly volatile “distance to distress” measure suggests that any of these countries...

Developing Asia has benefited greatly from the rise of the People's Republic of China (PRC), primarily through the trade channel. The PRC and its neighbors have collectively formed a regional production network, and the PRC is becoming an increasingly important source of final demand. Two...

The paper explores risk-based fiscal analytical approaches to complement a standard debt sustainability analysis when applied under conditions of risk and uncertainty. To outline a possible road map for risk-adjusted fiscal sustainability analysis, the paper first examines the types of...