The dramatic growth in recent decades of international trade and investment flows has precipitated a massive increase in the demand for financial intermediaries and markets to facilitate and manage this process. This rising demand, combined with non-linearities in financial services supply, such...

Productivity and efficiency change lies at the heart of some of the key challenges facing China’s economy. This paper contributes to an understanding of TFP change by computing and decomposing provincial-level Hicks-Moorsteen (H-M) total factor productivity (TFP) indexes for the period...

This paper critically evaluates the policy literature surrounding China's exchange rate regime.It first discusses several popularly raised contentions in relation to the dollar peg employed by China, which in fact are poorly grounded in evidence.These include notions that the RMB is clearly...

Empirical studies show that financial development exhibits a positive relationship with economic growth and the extent of poverty alleviation. Implementing policies that best promote financial development - such as mobilizing savings - are therefore, a matter of importance for all developing...

The microfinance industry in Vietnam, particularly those sponsored by nongovernment organisations (NGOs), has experienced rapid expansion in recent years. Yet in spite of this growth, an analysis of their effectiveness has been lacking. In a bid to help address this shortcoming, this paper...

China’s path to emerging as the world’s second largest economy has not been a smooth one. This paper considers whether the volatility of growth has had an impact on the trend rate of growth. In doing so it aims to promote a better understanding of the determinants of China’s impressive...