The middle-income trap (MIT) is a scenario of rapidly growing economies that experience sudden stops and ultimately lead to stagnation at the middle-income level. Economic growth depends on changes in the demographics of a country. Conversely, the demographic change in economic growth has both...

During decades of market development, the individual financial markets of the member economies of the Association of Southeast Asian Nations (ASEAN) have been progressively incorporated into regional and international markets. The aim of this study is to explore and measure the strength and...

This paper assesses the case for promoting financial education in Asia. It argues that the benefits of investing in financial education can be substantial. Data are limited, but indicate low financial literacy scores for selected Asian countries. As economies develop, access to financial...

Many reforms have taken place in Indonesia following the Asian financial crisis of 1997 - 1998. The government has embarked upon institutional transformation, making the country one of the region's most vibrant democracies. In social, economic, and political areas, Indonesia has seen much...

A skilled and educated workforce can support the competitiveness of enterprises of all sizes. However, smaller firms may face greater challenges in developing human capital. We explore differences between smaller and larger firms in offering skills training and in hiring workers with more formal...

Over the past few decades, Thailand has made progress in expanding access to basic education, resulting in an increase in literacy rates and narrowing gaps in school attendance between socio-economic groups. This paper surveys recent developments in Thailand's basic education with an emphasis on...

This paper explores the impact of international migration on school enrollment of children staying behind in Tajikistan, by using data from a large nationally representative household survey. The methodology employed is a switching probit model that accounts for the endogeneity and...

This paper develops a three-period overlapping-generations model where middle-aged agents care about not only their own lifetime utility but also their old parents’ and children’s well-being. The double altruistic agents choose amounts of intergenerational transfers to their old parents and...

When parents migrate from home to another place and leave their children behind, it can have a large influence on their children. This study explores the relationship between parental migration and the learning outcomes of left-behind children aged 7-14 in Pacific Island economies, particularly...

School closures have a negative impact on children's educational outcomes. During the COVID-19 pandemic, Central Asia and the Caucasus introduced online classes and TV programs with a view to preventing learning loss. Based on a household survey in nine countries (Afghanistan, Azerbaijan,...