This study investigates how development of the local currency (LCY) bond market brings stability in the financial market. The analysis is based on annual economy panel data set for 1989–2020. The main findings are as follows. First, exchange rate volatility is lower during crisis periods if an...

During decade of market development, the Association of Southeast Asian Nations (ASEAN) financial markets seem to be increasingly integrated into the regional and global markets. The aim of this study is to explore and measure the strength and direction of bond market connectedness between...

Entrepreneurship, or the activity of starting and running a business, is a vital ingredient of economic growth and development. Entrepreneurs contribute to innovation, and they are central to dynamic Schumpeterian competition and broader economic dynamism. In this paper, we contribute to the...

An integral part of global current account imbalances is the large and persistent current account surplus developing Asia has run since the 1997-1998 Asian crisis. A country's current account surplus is, by definition, equal to its net saving. The central objective of this paper is to...

The recession in the United States in the wake of the global financial crisis has had a pronounced negative impact on developing Asia's exports and growth. As a result, developing Asian countries are increasingly looking to the People's Republic of China (PRC) as a new source of demand and...

Developing Asia has traditionally relied on exports to the United States (US) and other industrialized countries for demand and growth. As a result, the collapse of exports to the US and other industrialized countries during the global financial and economic crisis has sharply curtailed gross...

"Using international data starting in 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points, when their per capita...

The demographic dividend that contributed substantially to economic growth in developing Asia in the past is dissipating. Population aging affects growth through savings, capital accumulation, labor force participation, and total factor productivity. We examined the impact of aging on those four...

Using international data starting 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points when their per capita incomes...