One possible consequence of the establishment of the Euro is a challenge to the hegemony of the US dollar as the predominant international currency. No other currency has been able to rival the international role of the national currency of the US since World War II. The fact that the unipolar...

Services trade is an important source of growth in Malaysia and Singapore. Both economies are export-oriented and actively court foreign direct investment (FDI) to advance their economic objectives of industrialisation and economic development. This paper examines the causal linkages between...

This paper addresses the implications of the increasing skill intensity of cross-border migration flows for labour market outcomes in host countries. Specifically, we investigate the impact of the relative growth of skilled migrants on domestic wages in Australia over the last quarter century...

This paper examines whether the differences in the observed savings of immigrant and native households in Australia are related to underlying differences in observable characteristics of the two groups of households or to environmental factors. We use quantile regression and semi-parametric...

Financial sector development may contribute to economic growth by facilitating capital accumulation and by improving productivity. This paper investigates empirically the contribution that financial development may make to these two alternative drivers of economic growth in China. Specifically,...

This study uses two alternative specifications to test the interdependence between the current and capital accounts of the balance of payments. The empirical specifications, derived from the balance of payments constraint and from national income accounting relationships, respectively, yield...

Increasing life expectancy and rapid fertility decline in China since the 1970s have accelerated the rate of population ageing, fuelling the prospects of an ageing workforce and a significant slowdown in the growth of the working age population. The present paper examines the trend of labour...

Immigration leads to a change in the supply of workers across skill groups. The resulting impact on employment and earnings of native workers is estimated using an innovative approach developed by Borjas (2003). The approach takes into account the skill differentials in the labour force and...