Dong Hyun Park finds evidence strongly supportive of popular opinion that developing Asia should manage its foreign exchange reserves more actively. The analysis indicates that, contrary to popular opinion, the region's reserves are not a free fiscal asset but the income from investing them...

This paper empirically examines the relative importance of different sources of inflation in developing Asia. In particular, it tests the widely held view that the region's current inflation surge is primarily the result of external price shocks such as oil and food shocks. In addition, this...

A major side effect of globalization is the erosion of the tax base due to the growing mobility of capital and the consequent international tax competition for capital. The potential loss of revenues is encouraging developing Asia's governments to look for alternative, nonconventional, nontax...