Launched as a political bloc and security pact in the aftermath of the Viet Nam War, the Association of Southeast Asian Nations (ASEAN) has evolved to embrace an ambitious economic agenda. Its latest project is to establish the ASEAN Economic Community (AEC) by 31 December 2015. Fulfilling these...

The purpose of this paper is to extend the simulation analysis of population ageing in Guest, Bryant and Scobie (2003). In that paper a single-good Ramsey-Solow model was calibrated for New Zealand and used to simulate the impact of population ageing on optimal national saving and average living...

While there is a consensus in the literature that offshoring has a polarising effect on the skill structure of labour demand, little is known about its impact on the capital side. In this paper, we analyse the effect of offshoring on the demand for capital by asset class using a rich...

Bleibende ökonomische Auswirkungen der Corona-Pandemie werden an der Entwicklung der gesamtwirtschaftlichen Produktionsfaktoren - dem Arbeitseinsatz, Sach- und Humankapital sowie dem Bestand an technischem Wissen - sichtbar werden. Verhaltensänderungen, wie etwa eine höhere Technikakzeptanz,...

Private investment in Malaysia has been sluggish since the Asian financial crisis. One explanation is that the growing presence of government-linked corporations (GLCs) has been crowding out private investment. For the first time, we provide empirical evidence on the relationship between GLC...

This paper studies the marginal product of private capital (MPK) with new data and a new framework to obtain a better understanding of international capital allocations and the Lucas Paradox (LP). Our point of departure is three influential studies of MPK’s and, based on the most recently...

We quantify the impact of barriers to international investment, using a novel multi-country dynamic general equilibrium model with heterogeneous investors and imperfect capital mobility. Our model yields a gravity equation for bilateral foreign asset positions. We estimate this gravity equation...

The quality of institutions is considerable worse in Central Asia than in other transition countries. Based on a panel of 25 transition countries for the period from 1996 to 2005, this paper shows that oil and aid exert a negative influence on institutional development. At the same time,...