Understanding the determinants of capital inflows is essential to designing an effective policy framework to manage volatile capital flows and their disruptive potential. This paper aims to identify factors that explain the size and volatility of various types of capital flows to developing Asia, vis-à-vis other emerging market economies. The estimates for a panel dataset show that per capita income ...

This paper examines the extent to which Pakistan's growth has been, or is likely to be, constrained by its balance of payments. Evidence presented suggests that Pakistan's maximum growth rate consistent with equilibrium on the basic balance is approximately 5% per annum. This is below the long-term target GDP growth rate of 7–8% per annum. This balance-of-payments constrained growth approach provides ...

Regionalism in East Asia by Richard Pomfret is a relatively short and readable book, but it provides readers with useful insights on the past, current and future of East Asian regionalism to outline the prospects of future regionalism. While this is not a book on contemporary economic history of Asia, as he notes, the historical perspective is critical to analysing relatively 'recent' phenomena of ...

This article focuses on directions in reshaping accountability mechanisms in multilateral development banks and other organizations. The term ‘accountability mechanisms’ refers to avenues for private individuals and groups to file claims against the institution for redress of their grievance on poorly designed and/or implemented projects. Since 1993, accountability mechanisms have, over the years, ...

Many economists maintain that in order to advance economic growth Asian countries should focus more on basic research than on technology adoption, and more on the supply of skilled workers than the supply of unskilled workers. In this context, this paper presents a theoretical model and empirical evidence to explain the observation that a country in which the level of technology approaches the ...

In the first phase of the global financial crisis, rising inflation was a major concern for emerging East Asian central banks. Coupled with a slowing US economy, regional central banks faced a monetary policy dilemma of either addressing higher inflation or supporting moderate growth. Higher food and fuel prices were the major drivers of headline inflation. Their causes, however, were a confluence ...

In the wake of recent food price spikes, plus growing demands for food in emerging Asia and for biofuels in Europe and the United States, governments are re-examining their strategies for dealing with both short-term and long-term food security concerns. This paper argues that long-run trends in real agricultural prices have policy implications for food security that are at least as important as ...

Invasive animal pests reduce crop and livestock output, require management and control measures, and threaten native plants, animals and their habitat. The agricultural and management costs are often directly measurable. But the costs to protect threatened native plants and animals are harder to assess. The Rural Lands Protection Boards were the government agency in New South Wales that managed ...

There are four major modes through which firms undertake foreign direct investment (FDI) – merger and acquisition (M&A), joint venture (JV), new plant (NP) and others (O). The four modes of FDI are distinct from each other, and each has its own unique advantages and disadvantages. While a large and growing empirical literature examines the determinants of FDI, very few studies examine the determinants ...

We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990–2010 when emerging markets became more integrated into the international financial system. We look at the relationship both before and after the global crisis. Our study reveals ...