Sovereign wealth funds (SWFs) are emerging as developing Asia's main policy tool for handling the region's excess foreign exchange reserves. SWFs represent a strategic shift of excess reserves from low-risk, low-return investments to high-risk, high-return investments, and are subject to a wide...

"While decentralization of education in DMCs has largely been driven by fiscal constraints, it has also been motivated by concerns about the effectiveness of a centralized system in delivering education services. The statistics are revealing: while virtually all DMCs have made impressive gains...