This paper examines the complementary and competitive roles of the World Bank and the Asian Development Bank (ADB) in Asia given the backdrop of a changing world in which development priorities and challenges are changing rapidly and the rapid expansion of financial flows to developing countries...

Multilateral development finance is at a critical juncture. In the past 70 years, it has developed through four distinct stages. The Bretton Woods conference established the World Bank and the International Monetary Fund in 1944 to finance post-war reconstruction and stabilize the global...

Multilateral development banks (MDBs) are an innovative institutional model to channel financing and knowledge to developing countries. In Latin America, the balance of forces between competition and collaboration among MDBs and other sources of development finance have formed a system that is...

Trade finance shortfalls now appear regularly. Does this matter for trade expansion and economic development in developing countries? Global trade finance has resumed following the 2009 global financial crisis. However, the pattern of recovery has been uneven across countries and categories of...

Banks are a critical facilitator of trade. Without bank-intermediated trade finance, global exports and imports would come to a halt. This has been apparent during the episodes of credit rationing that accompany financial shocks. But we have little insight into the drivers of rejection pooling...

This study investigates the economic growth and catch-up of the Republic of Korea over the past half-century. The gap of output per worker between the Republic of Korea and United States has decreased rapidly, as the Republic of Korea's lower per capita income, relative to its potential level,...

The aim of this study is to develop a conceptual framework for the middle-income trap (MIT). Firstly, we present an extensive literature review of what the MIT concept is, why economies become 'stuck' in the MIT, and how the idea is criticized. Secondly, we put together a list of countries stuck...

The global economic slowdown has again highlighted the vulnerability of export-led development models and economies to downturns in export markets. Economic deepening or "rebalancing" with an emphasis on service-sector development should be - and is becoming - one long-term response to the...

Regional economic integration agreements are considered to be important policy mechanisms to address regional developmental asymmetries. The Asian reality is characterized by developmental asymmetries across countries on the one hand and a lack of comprehensive pan-Asian formal regional economic...

This study is a comprehensive, empirical analysis of the linkages between governance, institutions, and regional infrastructure. The empirical results indicate that governance and institutions are crucial for regional infrastructure development: every one point improvement in governance results...