One of the main challenges in low-income Asia and the Pacific countries is users' willingness to pay for water services. In contrast, investors and private operators in the water sector prefer a high rate of return. This has often led to the failure of public-private partnerships for water...

East Asian countries were seriously affected by the 2008 global crisis through a steep fall in exports. This experience exposed the vulnerability of the East Asian growth model and emphasized the importance of generating regional growth by expanding domestic demand and enlarging intra-regional...

East Asian countries were seriously affected by the 2008 global crisis through a steep fall in exports. This experience exposed the vulnerability of the East Asian growth model and emphasized the importance of generating regional growth by expanding domestic demand and enlarging intra-regional...

Sixty years after its entry in academic circles, development economics has now been mainstreamed in economics. It has proven itself in placing articles in top economic journals, in mobilizing a vast membership of students and researchers, in receiving important financial contributions from...

Sixty years after its entry in academic circles, development economics has now been mainstreamed in economics. It has proven itself in placing articles in top economic journals, in mobilizing a vast membership of students and researchers, in receiving important financial contributions from...

Certain stylized facts are common among successful economic latecomers: an inverse U-shaped gross domestic product and capital per capita growth rate, high growth rates during the catch-up period, and rapid structural changes. This paper, for the first time, proposes a general equilibrium...

We examine the issue of the widening wealth inequality in the People's Republic of China (PRC) from the perspective of housing. Using China Household Finance Survey (CHFS) data from 2011, we find that the PRC's wealth inequality including housing is much larger than income inequality. Housing...

This paper analyzes the reasons for the middle income trap in Latin America, where countries have been at the middle income level for decades, and draws out lessons for Asia. The middle income trap captures a situation where a middle income country can no longer compete internationally in...

This paper introduces a new index of financial inclusion for 153 advanced, emerging, and developing economies using a comprehensive set of new indicators, grouped into four different dimensions: financial access, usage, financial development, and fintech infrastructure. The fintech...

This paper explores the impacts of more rapid growth in labor productivity in the service sector in Asia based on an empirical general equilibrium model. The model allows for input-output linkages and capital movements across industries and economies, and consumption and investment dynamics. We...