This paper analyzes detailed differences in patterns of financial development across the major Asian economies, including three of the region's largest economies (China, Japan and South Korea), to understand how these differences might affect possibilities for greater regional financial...

Fifty years ago, Punjab embarked on its famous Green Revolution, leading the rest of India in that innovation, and becoming the country's breadbasket. Now its economy and society are struggling by relative, and sometimes even absolute, measures. Using the original Green Revolution as a...

The poor quality and effectiveness of much of government expenditure in India makes it important to analyze ways of improving effectiveness through institutional reform. Improvements in outcomes include better targeting of redistributive measures and more efficient spending on productive...

The economy of Punjab state in India offers an interesting case study. Punjab has been for decades - and remains - one of India's better-off states, and so it tends not be included in the primary focus of national programs meant to reduce poverty or spur economic development. But, Punjab's...

Foreign portfolio flows in and out of India are relevant for policymakers, and are often portrayed in the media as having a destabilizing effect on the domestic market. We use an event study approach to examine whether extreme global shocks trigger abnormal responses in foreign equity flows in...