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...

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...

Typhoons, floods, and other weather-related shocks can inflict suffering on local populations and create life-threatening conditions for the poor. Yet, natural disasters also present a development opportunity to upgrade capital stock, adopt new technologies, enhance the risk-resiliency of...

This research aimed to examine the factors affecting the participation of female rural-urban migrants in online marketplaces, and the welfare gains and their distribution from their participation. Our analysis was based on a unique data set of rural households, villages, and rural-urban migrants...

The aftermath of the global financial crisis of 2007-2009 has called the export-led growth model of Asian economies into question. This paper describes the contribution that macroeconomic policy can make to promote a rebalancing of growth away from dependence on exports to developed economies to...