This paper estimates the growth impact of disasters, with a focus on developing Asia and its subregions. It finds that severe disasters slow down annual growth in the Pacific island countries by between 1 and 2 percentage points on average. This should come as no surprise, given these economies'...

The purpose of this study is twofold. The first is to develop a new composite index of globalization based on data on 158 economies over the period 2006−2014. The second intention is to use the new index to evaluate empirically the possible effects of globalization on economic growth and...

Recognizing the need to formulate policy strategies for the changes it faces, Myanmar started a multifaceted reform process in 2011. But speeding up development requires a multipronged but more coherent strategy targeted at strong and resilient growth, employment generation and, ultimately,...

This is done in relation to the benchmark of World Economic Outlook (WEO) projections by the International Monetary Fund. Amid much heterogeneity across countries and years, it has been found that ADO and WEO projections overlap quite closely. Both are inaccurate, especially during crisis years,...

The Asian Development Outlook (ADO) provides growth and inflation forecasts for more than 40 economies in the region. This paper assesses the accuracy of those forecasts against actual outcomes for the years from 2008 to 2011. The World Economic Outlook (WEO) forecasts by the International...

There are significant income and nonincome development gaps around the world. Closing these gaps will require not only increasing and sustaining economic growth in low-income regions, but also policies that close nonincome development gaps directly. Governments need to support private investment...

This paper analyzes the role of complexity in production on the level of output and on its rate of growth. We develop an endogenous growth model with human capital accumulation, where increased complexity could exert either a positive or a negative effect on the level of output but always a...

Severe disruptions in school education during the coronavirus disease (COVID–19) pandemic has impacted children through their formative years which will affect their employment opportunities and earning potential for many years after school ages. This paper examines the medium-to-long-term...