Recurrent large fiscal deficits and accumulating public debt frequently ring alarm bells around the world on the sustainability of U.S. federal fiscal policy. The present-value borrowing constraint, which states that, for the fiscal policy to be sustainable the current debt stock should match...

This paper, which is borne out of the need to address scarcity of evidence-based studies on barangay financing, analyzes and evaluates key issues on financing of devolved functions at the barangay level, with particular focus on fund utilization and program allocation, and proposes some policy...

This projects concern for diplomatic history is admirable, and my remarks will be directed towards encouraging the cause. Despite the best efforts of the Historical Documents Section of the Department of Foreign Affairs and Trade (DFAT), diplomatic history is languishing in Australian...

Within the context of the ASEAN Economic Community (AEC) Scorecard mechanism developed by the ASEAN Secretariat to monitor the implementation of the AEC Blueprint, the study focuses on the current state, performance and impact of investment liberalization and facilitation, trade facilitation,...

This study examines business groups and their impact on corporate governance in Pakistan. We use non-financial firms listed on the Karachi Stock Exchange of Pakistan for 1998-2002 periods in order to select group and non-group samples. Our analysis find that group firms have higher...

A developing economy such as the Philippines has to create an enabling environment for economic growth and development. But how does one nudge forward the creation of such an environment? This paper departs from the usual discourse on the need for effective implementing institutions. Instead, it...

This paper aims to analyse urban mobility patterns and consequent impacts on energy and environment in India. We investigate the quantity of energy use in 23 metropolitan regions for the period 19812005 and present empirical results obtained using national and urban data sets. It explores the...

While there is a clear policy shift towards large-scale industrialization in the state of West Bengal (WB) during the early 1990s, not much improvement can be discerned in the performance of the manufacturing output. Moreover, contrary to the Indian experience, more than half of the...

Indias presence in the East Asia Summit signals not only a victory for New Delhis Look East policy but also an implicit Look West policy on the part of Indias neighbors to the east. This convergence represents not only a major economic opportunity for India but also a long-term strategic shift...

This paper discusses the Chiang Mai Initiative Multilateralization (CMIM); its origin, development and future outlook. It puts forward a number of proposals to make the liquidity support role of the CMIM more effective. It is further argued that the CMIM can bring about major changes to the...