How much an economy should invest in its physical infrastructure is a crucial question being asked by policy makers from developing countries where financial resources for economic development are limited. This paper aims to address this question by bringing insights from the literature that...

China’s grand infrastructure development strategy, the Belt and Road Initiative (BRI), has suffered as a result of the COVID-19 pandemic, at least when measured by the amount of funds lent or invested by China in BRI projects. This decrease in funding is one of the most visible signs of...

This study used the Bayesian methodology to estimate and calibrate a small-scale DSGE model of the Philippines. The goal of this study was to review the risk associated with increases in sovereign deficits. The major results of the study are: Estimates of fiscal rules show that fiscal authority...