ADB Economics Working Paper


  • Skewed Credit and Growth Dynamics after the Global Financial Crisis 

    Estrada, Gemma; Erce, Aitor; Park, Donghyun; Rojas, Juan (Asian Development Bank, 2018-10-15)
    A large empirical literature finds that financial development is beneficial for economic growth, although some recent evidence suggests otherwise. We contribute to the finance–growth literature by examining the role of credit growth skewness and long-run ...
  • The Changing Network of Financial Market Linkages: The Asian Experience 

    Chowdhury, Biplob; Dungey, Mardi; Kangogo, Moses; Sayeed, Mohammad Abu; Volkov, Vladimir (Asian Development Bank, 2018-10-15)
    Recent international financial crises highlight the advantages of understanding the global financial system as a network of economies in which cross-border financial linkages are fundamental to the spread of systemic risk. We investigate the changing ...
  • Public–Private Partnership Systems in the Republic of Korea, the Philippines, and Indonesia 

    Kim, Kang-Soo; Jung, Min-Woong; Park, Mee-Soo; Koh, Yoo-Eun; Kim, Jin-Oh (Asian Development Bank, 2018-10-15)
    Infrastructure plays a critical role in boosting the economy’s overall productivity and development toward improving the quality of life. Public–private partnership (PPP) is considered as one of the key modalities for sustainable infrastructure ...
  • Do Local Currency Bond Markets Enhance Financial Stability? 

    Park, Donghyun; Shin, Kwanho; Tian, Shu (Asian Development Bank, 2018-10-15)
    It is widely believed that local currency bond markets (LCBMs) can promote financial stability in developing countries. For instance, they can help mitigate the currency and maturity mismatch that contributed to the outbreak of the Asian financial ...

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