The speech tries to underline some lessones that be drawn from the financial crisis relevant to regulation, financial markets and the market infrastructure and to reflect on these. [Annual Conference of Foreign Exchange Dealers’ Association of India (FEDAI) at Kolkata].

It is being acknowledged that a macro prudential perspective is critical in designing and pursuing micro prudential regulation of institutions and markets. Two distinct but highly inter-related constructs have come to epitomize this post-crisis framework: macro prudential regulation and systemic...

This essay provides a game-theoretic, endogenous view of institutions, and then applies the idea to identify the sources of institutional trajectories of economic development in China, Japan, and Korea. It stylizes the Malthusian-phase of East Asian economies as peasant-based economies in which...

This essay provides a game-theoretic, endogenous view of institutions, and then applies the idea to identify the sources of institutional trajectories of economic development in China, Japan, and Korea. It stylizes the Malthusian-phase of East Asian economies as peasant-based economies in which...

Asian economic regionalism has emerged from a bottom-up process, driven by market forces in the absence of a grand plan for regional integration. While the financial crisis of 1997–98 triggered new regional cooperation initiatives, more recently several Asian political leaders have...

Asian economic regionalism has emerged from a bottom-up process, driven by market forces in the absence of a grand plan for regional integration. While the financial crisis of 1997–98 triggered new regional cooperation initiatives, more recently several Asian political leaders have...

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...

It has long been realised that factor accumulation and technological development are only proximate causes of economic development, and focus has now shifted to investigating the deeper determinants of economic growth. Two such forces are highlighted in literature : institutions and geography....

This paper seeks to explore the relationship between economic growth and governance performance in Asian developing economies. This exploration yields some interesting conclusions. First, notwithstanding its tremendous economic achievements, the state of governance in Asia is not stellar by...

Numerous studies have tried to explain the poor growth performance of the Philippines. This paper critically reviews related literature on constraints to long-run growth, as it applies to the Philippines. We evaluate several factors, namely : culture; corruption; and institutions. The last offers...