portfolio equity and debt investment flows are negatively related to total factor productivity (TFP) in developing Asia, thereby … pertains to why capital seems to flow to economies with lower rather than higher productivity growth. We find that while … direct investment, although we find that there is no direct allocation puzzle in developing Asia, financial development can …

appreciation because of differential productivity growth between tradable and nontradable sectors) using data of the APEC economies … Kong and Singapore grew fast, their real exchange rates appreciated only moderately. High productivity growth in service …

in Asia during the 1990s is found to be mainly from capital deepening. Total factor productivity (TFP) is also decomposed …

growth, largely reflecting a decline of total factor productivity (TFP) growth; (ii) by contrast, trend growth for the five …