In view of Asia's huge infrastructure needs, as well as the reduced demand for exports due to the ongoing global financial and economic crisis, infrastructure projects offer a way of increasing regional demand and intraregional trade. This policy brief proposes various ways to tap Asia's huge...

In this paper, we present two stylized models of the financial system. We make the case that in order to realize the potential of a well-functioning complete financial market, financial system designers and financial service providers will need to think about ways to deliver financial...

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...