In this study, we examine the impact of the STAR highway located in Batangas province, Philippines, on the public finance of the cities and municipalities through which it directly passes. Specifically, we exploit a unique, disaggregated dataset on tax (property and business taxes) as well as...

South Asia and Southeast Asia have been connected for many centuries, with the degree of connectivity varying over time. This paper explores strengthening connectivity between the two subregions by identifying the missing links in transport connectivity. The paper is specifically concerned with...

This paper studies the impacts of the infrastructure project on economic development in Kazakhstan. We first overview the macroeconomic situation and the development of public-private partnerships in Kazakhstan. In the empirical part of this research, we use the "difference-in-difference" (DiD)...

While discussing the enhancement of the connectivity between Europe and Asia, this policy paper explores a new area of cooperation, which is the use of European long-term investment funds in Asia's infrastructure. We argue that, if Asian countries agree to offer 50% of their spillover revenue to...

This paper studies the catching-up process in per capita income of the so-called Asian Dragons and Tigers. It contributes to the literature in several ways. First, it tests the catching-up hypothesis using the longest time span ever considered, from 1870 to 2014. Second, it documents the...

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...