The coronavirus disease (COVID-19) pandemic placed health-care systems around the world under great stress. The sharp increase in demand for health care highlighted the importance of efficient health spending. The negative impact of the pandemic on global economic growth further strengthened the...

The coronavirus disease (COVID-19) pandemic placed health-care systems around the world under great stress. The sharp increase in demand for health care highlighted the importance of efficient health spending. The negative impact of the pandemic on global economic growth further strengthened the...

In this study, we attempt to understand the role of greater access to finance, i.e., stocks, bonds, and bank loans, in public-private partnership (PPP) investment in developing countries. Most developing countries still depend heavily on fiscal financing for infrastructure projects. Our...

In this study, we attempt to understand the role of greater access to finance, i.e., stocks, bonds, and bank loans, in public-private partnership (PPP) investment in developing countries. Most developing countries still depend heavily on fiscal financing for infrastructure projects. Our...

In this study, we attempt to understand the role of greater access to finance, i.e., stocks, bonds and bank loans, in public–private partnership (PPP) investment in developing countries. Most developing countries still depend heavily on fiscal financing for infrastructure projects. Our...

We use data from the Groningen Growth and Development Centre (GGDC) database to perform preliminary empirical analysis of the interplay between quality and quantity of finance in accounting for the output growth of ten sectors. We review the existing literature and some salient open questions...

Rebalancing growth toward domestic demand has emerged as a key postcrisis challenge for sustaining developing Asia’s rapid growth in the medium and long term. The central objective of this paper is to explore the role of fiscal policy in the region’s rebalancing process. What matters most...

Fiscal stimulus programs have contributed substantially to developing Asia’s faster and stronger than expected recovery from the global financial crisis. This may lead to political pressures for greater use of countercyclical fiscal policy in the postcrisis period. However, the countercyclical...

There is a widespread perception that the Republic of Korea’s service sector lags behind its dynamic world-class manufacturing sector. We empirically analyze the past performance of the Republic of Korea’s service sector in order to assess its prospects as an engine of growth. Our analysis...

The underdeveloped service sector in Asia has the potential to become a new engine of economic growth for developing Asia, which has traditionally relied on export-oriented manufacturing to power its growth. The central objective of this paper is to empirically analyze the prospects for the...