The paper focuses on empirical analysis of major factors that determine innovation activities of Russian manufacturing firms during the crisis. We presume that the crisis has ambiguous effects on firms' behaviour, on one hand limiting their financial capabilities to invest into new products...

The paper traces the determinants of depositor discipline in Indian banking. Using data for the period 1997:1 to 2002:4, the findings reveal that, while bank-specific factors are dominant in case of state-owned banks, systemic variables tend to overwhelm bank-specific factors in explaining...

Abstract As the East Asian economic crisis has unfolded over the last six months, it has become common place for informed Western commentators to suggest that the crisis has essentially been caused by the specific model of capitalism -- the so-called “Asian model”-- that these countries had...

With the economic crisis in East Asia and a continuing boom in the US, American triumphialism is in the air. The latter is perhaps not unexpected and probably does no harm. But what is more questionable is the view held in the highest circles in the US Government and international financial...

The reversal of capital flows from the banking sector, rather than portfolio equity investment, has long been considered a main reason for the severity of the East Asian financial crisis of the late 1990s. This study analyzes the factors behind the boom and bust of bank lending, focusing on...

Why have so few countries in Sub-Saharan Africa been successful in export-oriented manufacturing? This paper uses firm-level data from the World Bank’s Enterprise Surveys to discuss this. The paper shows that although firms in most African countries are relatively unproductive, they are more...

The main purpose of this paper is to provide a brief survey for the progress and prospects of regional financial arrangements/cooperation among the East Asian nations and present the summary of various conflicting points of discussion about the strategies on the establishment of an effective...

The author provides an alternative for the rationale for South-South trade as a vehicle for industrialization and development of developing countries in Asia-Pacific region as the literature on this issue is not satisfactory. Further, refuting the “de-coupling” thesis—that is, the East...

Arguing that the theoretical literature on South-South trade is not satisfactory, the author provides an alternative framework and rationale for the South-South trade as a vehicle for industrialization and development of developing countries. He also applies this framework to developing...

The spaghetti bowl phenomenon expected from the proliferating East Asian regional trade agreements (RTAs) is worrisome. In particular, the complicated web of hub-and-spoke type of overlapping free trade agreements (FTAs) can result in high costs for verifying rules of origin (RoO). As an...