The ASEAN-4 countries—Indonesia, Malaysia, Philippines, and Thailand—have large and growing stocks of foreign exchange reserves. The region’s reserves now comfortably exceed levels required for traditional liquidity purposes. This has led to calls for a more active management of reserves,...

Using a dataset which breaks down FDI flows into primary, secondary and tertiary sector investments and a GMM dynamic approach to address concerns about endogeneity, the paper analyzes various macroeconomic, developmental, and institutional/qualitative determinants of FDI in a sample of emerging...

This paper discusses some key implications of the view, emerged in the literature, that multinational firms organise their activities by connecting internal networks of subsidiaries with external networks of contractual relationships. It is argued that this view provides some useful elements for...

Research and development (R&D) is an important resource for sustained economic growth. New knowledge created by a firm has spillover effects that improve the productivity of other firms and even other sectors. This is the heart of endogenous growth theory. In this framework, government policies...

This paper traces the effects of the “East Asian Miracle,†the 1997–1998 Asian Crisis, the recovery, and the 2008–2009 global financial crisis on ASEAN countries. It also considers how ASEAN countries can sustain growth by leveraging production networks to facilitate...

Using a unique dataset of joint-stock companies, we explore the corporate audit system in transition Russia. In comparison with companies in Western and Asian Pacific states, Russian firms have a weaker audit system in terms of the independence and expertise of the audit committee and the...

This paper reviews the status of the external sector of the Indian economy. It is divided into 5 broad sections. Section I gives the trends of imports and exports, as well as the composition and direction of external trade, since 1984-85. It also includes the latest available position of balance...