This paper examines the impact of trade and investment liberalization on the wage skill premium between skilled and unskilled workers in Vietnamese manufacturing. The result from an econometric analysis using a firm-level dataset reveals the important role of trade liberalization as an impetus...

This paper is motivated by the popular view that the surge in China’s foreign exchange reserves is due to a distortionary exchange rate policy aimed at keeping the real exchange rate undervalued to support export-led growth. It undertakes an in-depth empirical investigation to quantify how...

This paper examines the implications of global production sharing for the measurement of price elasticities in international trade using a unique disaggregated dataset relating to US manufacturing imports. It is found that imports of parts and components are remarkably less sensitive to changes...

It is a common practice in recursively dynamic CGE models to maintain static expectations. Consequently, investors take current rates of return as expected future rates of return. The vexing problem with this approach is that no matter how we allocate investments across sectors and regions in...

Landlockedness imposes additional costs on trade and reduces the international competitiveness. This paper examines the determinants of export performance of landlocked developing countries (LLDCs) compared to other developing countries using the standard gravity modelling framework. The results...

This paper examines the implications of Nepal’s exchange rate policy for its export performance over the period 1980–2010. We first document Nepal’s long-standing currency peg against the Indian rupee and that Nepal’s real exchange rate appreciated substantially from the late 1990s. We...

There has been increased emphasis on the linkages between international migration and development at international, regional and national levels in the past two decades. This recognition of migration as a developmental tool has generated calls for mainstreaming migration in development with some...

In theory, valuation effects (changes in net external assets of a country arising from movements in exchange rates or asset returns) are an important channel of international risk sharing as they facilitate external adjustment. However, the effects can also be economically destabilizing in the...

The global economic recovery is on course but remains weak. Many analysts and policymakers - including those from emerging markets - have recently called for international cooperation in the setting of macroeconomic policies. A global growth target has been adopted by the G20 to aid such...

This paper analyzes the benefits and losses associated with cooperation among ASEAN members in mitigating their CO2 emission, particularly by implementing a uniform carbon tax across ASEAN. To achieve this goal, this paper uses a multi-country CGE model for ASEAN, known as the Inter-Regional...