This paper applies two distinct approaches - growth regressions and growth accounting - to analyze the link between infrastructure, growth, and productivity in developing Asian countries. The main conclusion is that a number of countries in developing Asia have significantly improved their basic...

This paper tries to untangle the causes behind recent real exchange rate devaluation events with particular attention paid to the Sudden Stop of capital flows. We examine whether the sudden stop of capital inflows leads to asymmetric behavior in real exchange rate movements as suggested by Calvo...

This paper surveys the empirical and theoretical link between education and growth in the growth process of Asian countries. Particular attention is paid to the link between education and productivity, and to models that characterize key features of growth processes of Asian countries. Empirical...

This paper investigates the relationship between the exchange rate pass-through (ERPT) and inflation by estimating a nonlinear time series model. Using a simple theoretical model of ERPT determination, we show that the dynamics of ERPT can be well-approximated by a class of smooth transition...

Throughout the 2000s, the average household saving rate in the Philippines declined sharply. This article explains why households' consumption growth has been higher than income growth during this period. Tracing cohorts shows that saving declined across all demographic groups. A test that...