This study examines the effects of capital account restrictions on capital flows in nine Asian economies over the period 1995-2005 using panel regressions with fixed effects. The results show that capital controls significantly affect capital flows when such flows are disaggregated by asset type...

There are significant income and nonincome development gaps around the world. Closing these gaps will require not only increasing and sustaining economic growth in low-income regions, but also policies that close nonincome development gaps directly. Governments need to support private investment...

This paper attempts to measure the size of South-South foreign direct investment (FDI) in developing East Asia and the trends in it, and the characteristics of the investing countries and the investments themselves. It also summarizes the findings of studies in individual countries of the...

This study examines the differences in the effectiveness of de jure capital restrictions across economies in different regions (Asia versus non-Asia) and with varying income levels. It uses a panel of 45 economies over the period 1995-2007. The results show that differences in regional and...

The central objective of this paper is to empirically evaluate the degree of linkages among East Asian equity and bond markets. The primary contribution of our paper to the empirical literature is that we use a financial gravity model grounded in economic theory. Using data from the...

The paper aims to assess what influences volatility of capital flows to emerging countries and whether or not there is a spillover or contagion effect in the volatility. The empirical results suggest strong and significant contagion effects from global and regional volatilities on the volatility...

Private investment in Malaysia has never fully recovered from the impact of the Asian financial crisis (AFC). Both domestic and foreign investment have remained lackluster post-AFC; while foreigners continue to shun Malaysia, it seems even domestic investors are fleeing as well, with Malaysia...

In the last 33 years after the People's Republic of China's (PRC) openness and reform, huge amounts of foreign direct investment (FDI) flowed into the PRC. The capital inflow and technology spillover in turn enabled outward FDI from the PRC. This paper gives a brief introduction to the PRC's...

This paper presents new micro-level data consisting of individual greenfield investment projects and mergers and acquisitions as a source for detailed analysis of service sector cross-border investment flows among the Asian Development Bank (ADB) regional members. The new transactional foreign...

A host of external (global and regional) and internal (country-specific) factors affect Multinational Enterprises' Foreign Direct Investment (FDI) decisions. Differentiating the two entry modes of FDI (mergers and acquisitions [M&A] and Greenfield investment), this paper aims to empirically...