This paper uses the standard one-sector neoclassical growth model to investigate why China’s consumption has been low and investment high. This paper looks into the role played by the financial sector in the growth process of China and India. [WP No. 224].

In the study states’ finances is analysed to see whether all states have been able to create a fiscal space and whether their fiscal capacities have increased over time. Then the states’ spending is looked at to see how they use their fiscal space. [CSH].

The significance of international migration in the Philippines economy and society is discussed. The Government of Philippines plays a supportive and regulatory role promoting internationational migration is explained. India can draw the lessons and might learn from the Philippines experience....

Firms often give away free goods with the product that they sell. Firms often give stock options to their top management and other employees. Mixing these two practices—giving stock options to consumers who buy the firm’s product—, creates a deadly brew. Large numbers of...

This paper is about the financial lives of poor households. It examines the different sources of income and expenditure of the poor households residing in a coastal settlement in Kerala. The method of financial diary for data collection is adopted for the study. The sample size is 13. [WP 412].

Despite the negative impact of the current crisis and many remaining uncertainties about the actual economic recovery path, the medium-term outlook for Hong Kong’s banks remains favourable.