The recession in the United States in the wake of the global financial crisis has had a pronounced negative impact on developing Asia's exports and growth. As a result, developing Asian countries are increasingly looking to the People's Republic of China (PRC) as a new source of demand and...

The global economic crisis in 2008-2009 had varying impacts on economies in Asia and the Pacific. This paper studies the impacts of the global crisis, with emphasis on the labor market, on three Asian countries: Republic of Korea (Korea), Philippines, and Thailand. It develops a crisis index...

Developing Asia has traditionally relied on exports to the United States (US) and other industrialized countries for demand and growth. As a result, the collapse of exports to the US and other industrialized countries during the global financial and economic crisis has sharply curtailed gross...

This paper looks at the role of governance and institutions in supporting growth and broadening inclusiveness with a special reference to developing Asia. While the intrinsic value of good governance and institutions as ends of development in their own right is now universally accepted and...

Annual income data may provide a misleading indicator of enduring income inequality in societies where there is considerable year-to-year income mobility. Using two rounds of data on households, the paper measures income mobility in the People's Republic of China (PRC) between the early 1990s...

Postcrisis policy responses tilted in favor of strengthening the global regulatory system and financial stability have limited the attention paid to the role of finance in supporting sustained economic growth and development. This has special implications for Asia which, despite being the new...

Developing Asias rapid economic growth has been shifting the global economic and industrial centers of gravity away from the North Atlantic, raising the importance of Asia in world trade, and boosting SouthSouth trade. How will trade patterns change over the next 2 decades in the course of...

Asia as a whole is experiencing a rapid demographic transition toward older populations, though different countries are at different stages of this region-wide trend. We document Asia's aging population, describe the region's old-age support systems, and highlight the regional socioeconomic...

The demographic dividend that contributed substantially to economic growth in developing Asia in the past is dissipating. Population aging affects growth through savings, capital accumulation, labor force participation, and total factor productivity. We examined the impact of aging on those four...

After two generations of economic growth, the next phase of structural transformation for Asia will have several salient features. Our results suggest that no single policy orientation, pathway, or even destination will apply to all economies. The main driver for each economy's structural change...