In today's globalized world, people are increasingly mobile and often need to communicate across different languages. Learning a new language is an investment in human capital. Migrants must learn the language of their destination country, but even non-migrants must often learn other languages...

This paper attempts to construct leading indicator systems for the Malaysian and Philippine economies using publicly available economic and financial data, with a view to predicting turning points of growth cycles in the two countries. The results show that during the sample period of January...