This paper studies the effects of various forms of government decentralization on institutional quality across countries. Using corruption and the shadow economy to proxy for institutional quality, as well as three forms of government decentralization (i.e., virtual, physical, and fiscal), the...

This study provides new evidence of systemic risk contribution in the international mutual fund sector from 2000 - 2011. The empirical analysis tracks the systemic risk of 10,570 mutual funds investing internationally. The main findings suggest that the systemic risk contributions of...

This study evaluates infrastructure investment and finance in Asia from a global perspective. It provides an overview on infrastructure needs and the various sources of private finance, globally and within Asia, and creates a "bigger picture" for the demand and supply of capital for...

While until the mid-1990s the Organization of the Petroleum Exporting Countries played a key role in oil pricing, during recent decades, rapid economic growth in developing economies has boosted the demand for oil, making oil prices vulnerable to a wider range of factors. This research will...

State-owned enterprises (SOEs) have been declining in numbers in most industries. However, in the oil and gas industry, state-owned national oil companies (NOCs) continue to secure dominant positions in most of the oil-producing countries. In some instances, energy-exporting countries conducted...

This paper provides an overview of how economists think about climate change impacts with a focus on Asia. It is designed to discuss the steps along the causal chain from physical impacts to impacts on human and natural systems. It starts with a summary of the projected physical impacts of...

Integration of public transport modes has been cited by many as one of the primary factors that enhances public transport ridership and makes public transport investments more viable. Asian cities are witnessing huge investments in high-speed rail (HSR) infrastructure, which will be instrumental...

Considerable attention has been given to enhancing subnational development finance in response to the 2008 global financial crisis and recent global development agendas, including the Sustainable Development Goals, Financing for Development, and Habitat III/New Urban Agenda. Much work on this...

The main purpose of this paper is to empirically investigate the impacts of remittance inflows, financial inclusion, and economic development and whether inward remittances may help to construct an inclusive financial system. Using both endogeneity-robust generalized method of moments and a...