In this paper we empirically explore the relationship between fiscal policy and economic growth in developing Asia. The region's overall level of taxes and government spending are substantially lower than those prevailing in advanced economies. Nevertheless, there are conceptual grounds why...

Broadly speaking, developing Asia and Latin America are at similar income and development levels. Relative to the advanced economies, economic growth and development are much more urgent priorities for both, yet Latin America has significantly more experience in using fiscal policy to tackle...

We examine various macroeconomic impacts of improving energy efficiency in the People's Republic of China, India, Indonesia, Japan, the Republic of Korea, Malaysia, and Thailand from 2010 to 2050. Energy efficiency policies would have a positive impact on private consumption, government...

GMM estimation of autoregressive panel data equations in error-ridden variables when the noise has memory, is considered. The impact of variation in the memory length in signal and noise spread and in the degree of individual heterogeneity are discussed with respect to finite sample bias, using...

This paper presents a theoretical model and empirical evidence to explain the observation that a country in which the level of technology approaches the technology frontier tends to rely more on technology creation than adoption, and to invest more in basic research than in development. The...

This paper introduces a model of gender inequality and economic growth that focuses on the determination of women's time allocation among market production, home production, child rearing, and child education. The theoretical model is based on Agénor (2012), but differs in several important...

A sound and efficient financial system is an indispensable ingredient of economic growth. It consists primarily of banks and capital markets, which channel savings into investments and other productive activities that contribute to economic growth and augment the economy's productive capacity....

Recent key challenges highlight the need to revisit Asia's financial development. These include the region's growth slowdown since the global crisis, compounded by a less benign external environment; internal structural challenges, such as population aging; and the maturing of much of the region...

Recognizing the need to formulate policy strategies for the changes it faces, Myanmar started a multifaceted reform process in 2011. But speeding up development requires a multipronged but more coherent strategy targeted at strong and resilient growth, employment generation and, ultimately,...