In this paper, we examine the effects of introducing constraints on government borrowing using a continuous-time overlapping generations model of a small open economy. We consider government placing constraints on the amount of government bonds outstanding by establishing an upper limit, or...

Over 10 years after the currency crisis, the degree of exchange rate misalignment is still an issue of contention for East Asian countries. This study evaluates the degrees of currency misalignment of Korea, China, Malaysia, Thailand, the Phillipines, and Indonesia by examining absolute...

Looking back around half a century, Thailand has been one of the fastest growing economies in the world. lt also possesses an impressive record in term of poverfy reduction' Whether the two phenomena are related and, if so, how, are of great interest to academic and policymakers. This paper...

This paper traces the development of the education sector from its nascent stage of serving economic development needs to the internationalization stage of fulfilling Singapore’s aspiration to be a global education hub. The state plays an important role in guiding and fostering...

This paper traces the development of the education sector from its nascent stage of serving economic development needs to the internationalization stage of fulfilling Singapore’s aspiration to be a global education hub. The state plays an important role in guiding and fostering...

This paper traces the development of the education sector from its nascent stage of serving economic development needs to the internationalization stage of fulfilling Singapore’s aspiration to be a global education hub. The state plays an important role in guiding and fostering...

Services have been a key driver of overall economic growth in South Asia since the 1990s. This paper examines how the growth of services output, trade and investment have affected service sector employment in South Asia and the extent to which countries in this region are proactively undertaking...

Services have been a key driver of overall economic growth in South Asia since the 1990s. This paper examines how the growth of services output, trade and investment have affected service sector employment in South Asia and the extent to which countries in this region are proactively undertaking...

Several recent empirical and theoretical studies have revived interest in the relationship between the level of the exchange rate and economic development. This paper develops a dynamic model based on the Ricardian framework with a continuum of goods to consider the issue from a somewhat...

Services have been a key driver of overall economic growth in South Asia since the 1990s. This paper examines how the growth of services output, trade and investment have affected service sector employment in South Asia and the extent to which countries in this region are proactively undertaking...