Financial inclusion plays an important role in giving households greater access to borrowing opportunities, which in turn can be used to improve human capital accumulation, socioeconomic status, and long-run economic development. One way to enhance households' access to and usage of the...

We study the relationship between maternal education and children's well-being in four Pacific countries. We exploit the richness of the Multiple Indicator Clustering Survey (MICS) dataset to investigate this relationship and its underlying mechanisms. We find that the number of years of...

Rapid ageing of the population globally represents an unprecedented historical trend. As pension and healthcare costs are positively correlated with rising incomes, ageing, urbanization, and a shift from communicable to life-style diseases, managing these costs is a major challenge. There are...

Rapid ageing of the population globally represents an unprecedented historical trend. As pension and healthcare costs are positively correlated with rising incomes, ageing, urbanization, and a shift from communicable to life-style diseases, managing these costs is a major challenge. There are...

This study provides new evidence of systemic risk contribution in the international mutual fund sector from 2000 - 2011. The empirical analysis tracks the systemic risk of 10,570 mutual funds investing internationally. The main findings suggest that the systemic risk contributions of...

The real effective exchange rate (REER) is one of the most cited statistical constructs in open-economy macroeconomics. We show that the models used to compute these numbers are not rich enough to allow for the rising importance of global value chains. Moreover, because different sectors within...

The global green bond market has grown rapidly in recent years, increasing from $ 3 billion in 2012 to over $ 100 billion in 2017.1 Given the broad acceptance and strong demand from investors, green bonds have emerged as an important financing solution, raising finance for climate change...

The Islamic finance industry has grown substantially in Asia over the last 2 decades. The Muslim populations in different Asian countries, especially in Southeast Asia, are increasing. Rapid Muslim population growth and improving living standards may enhance the popularity of Islamic finance as...

This paper describes the international flow of funds associated with calm and volatile global equity markets. During calm periods, portfolio investment by real money and leveraged investors in advanced countries flows into emerging markets. When central banks in the receiving countries resist...

This paper evaluates the prospects for the renminbi's role as an international currency and the implications for global financial markets. Although the People's Republic of China (PRC) does not have either an open capital account or a flexible exchange rate, the renminbi has attained...