This paper examines the performances of Asian asset management companies (AMCs). The analysis reveals that the AMCs vary significantly in their design and performances. The authors claim that AMCs can trigger moral hazard-inspired bank lending, especially when the mode of transfer of...

Nontariff measures are everywhere vilified for preventing exports, especially of agriculture, from developing countries. Philippine exporters seem to be taking things in stride, however. The paper estimates the cost of certification regularly borne by a typical Philippine food exporter to be...

Globalization and pressure from increased competition have led to “splintering” of in-house services from formerly integrated manufacturing firms in developed economies and, at the same time, to an increase in “outsourcing” of these same services. These two trends have caused a stronger...

The paper discusses the ASEAN + 3 integration in the context of the literature on hub-and-spoke regionalism. It argues that, provided proper rules of origin are incorporated, the different bilateral arrangements between ASEAN countries and each of the three East Asian economies are building...

The paper describes the current decisionmaking structure for trade policy formulation in the Philippines and compares it with the systems in selected countries. It cites difficulties in the current set-up, such as: 1) turf mentality among government agencies that tend to paralyze interagency...

This paper attempts to examine the performances of Asian AMCs. Our analysis reveals that the AMCs vary significantly in their design and performances. We claim that AMCs can trigger moral hazard-inspired bank lending, especially when the mode of NPL transfer from banks to AMC entails little cost...

The growth rebalancing model, which places the nontradable services sector on center stage, is important to spur on faster growth in this sector and tap its potential to become another engine of growth for ASEAN economies. While ASEAN countries have allocated the bulk of their fiscal stimulus...

In a democratic country, economic policies succeed or fail depending on the political support they receive. Open trade policies that were initiated and accepted years ago can be reversed in accordance with the government's free trade conviction and popular pressure. However, popular pressure for...

This paper distills some policy lessons from the financial services integration program in the European Union for East Asia. Focusing on the improved cross-border facilitation of financial flows rather than on general macroeconomic factors related to optimal currency area formation, the paper...

The paper provides a background for services trade negotiations with Japan. It summarizes various discussions on international trade in services, the challenge of further services trade liberalization, and the rise of regional trade agreements. It discusses the different modalities of services...