This paper explores the joint effect of aggregate productivity shocks and capital market liberalization on the optimal bailout (or liquidation) policy of banks towards defaulted borrowers. It suggests that in bad times both good and bad firms default on their obligations, it is harder for the...

The paper gives an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations....

The paper gives an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations....

The paper gives an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations....

The second goal of the Millennium Development Goals (MDGs) is to achieve universal primary education. The target is to reach all the MDGs by 2015. Trends in education indicators for monitoring the second MDG suggest that Philippines may probably not meet the target on achieving universal primary...

Productivity growth in Indian manufacturing is an important driver of overall growth, yet the issues related to its measurement have still not been resolved. The issue of how to compute an aggregate productivity measure holds significance for two reasons : one, the productivity of a firm should...

While there is a clear policy shift towards large-scale industrialization in the state of West Bengal (WB) during the early 1990s, not much improvement can be discerned in the performance of the manufacturing output. Moreover, contrary to the Indian experience, more than half of the...

The prospective entry of generic dominated Indian pharmaceutical sector in the ambit of new technologies is likely to give filip to emergence of strong biopharmaceutical sector.It is pertinent in this context to draw a policy roadmap which takes into account sectoral dynamics and draws upon...

The paper determines the factors affecting the export performance of firms in three main manufacturing sectors in the Philippines. Specifically, firm-level characteristics like firm size, firm age and foreign affiliation are identified and statistically tested to determine if it affects a firms...

This paper aims at studying the determinants of the patent behavior of Argentinean manufacturing firms. In particular, we seek to identify the factors that affect the probability of obtaining a patent and the determinants of the number of patents granted. We include industry fixed effects and...