This study examines the effects of capital account restrictions on capital flows in nine emerging Asian economies using panel regressions with 75 economies and fixed effects over the period 1995–2007. The results show that effectiveness of capital controls in the nine emerging Asian economies...

This paper examines the unfolding of the U.S. sub-prime-generated turmoil and its potential spillover effects on Asia's emerging financial systems. The sub-prime mortgage mess has revealed key structural weaknesses in the evolution of modern credit markets. Although emerging Asian financial...

This paper analyzes the empirical relationships among demographic changes, saving, and current account balances in East Asia. The panel Vector-Auto Regressive (VAR) model shows that an increase in the dependency rate, especially the elderly dependency rate, significantly lowers saving rates and...

The purpose of this paper is to provide an assessment of the global economic impacts of severe acute respiratory syndrome (SARS) as well as to provide a more comprehensive approach to estimating the global consequences of major disease outbreaks. Our empirical estimates of the economic effects...