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Tribute: Kamla Bhasin

Vibhuti Patel pays a heart-warming tribute to a fellow feminist.

by Vibhuti Patel | On 30 Oct 2021

Emerging Markets Perspectives on G-20 led Financial Reforms

The chapter examines progress as well as continuing concerns in G-20 led financial reforms, with particular emphasis on emerging markets (EMs). Although risks remain they are of a lower order of magni...

by Ashima Goyal | On 25 Apr 2019

News, Noise and Indian Business Cycle

New Keynesian Dynamic Stochastic General Equilibrium (DSGE) models with various specifications of technology, markup and interest rate shocks are estimated with Indian data using Kalman filter based p...

by Ashima Goyal | On 25 Apr 2019

Macroprudential Policy in Asian Economies

This paper analyzes the conduct and effects of macroprudential policy in 11 Asian economies. Of these, India, the People’s Republic of China, and the Republic of Korea frequently used loan-to-value ra...

by Soyoung Kim | On 23 Apr 2019

Exchange Rate Movements and Fundamentals: Impact of Oil Prices and the People’s Republic of China’s Growth

This paper identifies five factors that can capture 95% of the variance across 39 US dollar exchange rates based on the principal component method. A time-varying parameter factor-augmented vector aut...

by Hongyi Chen | On 01 Apr 2019

Price Discovery in Indian Government Securities Market, Monetary Management and the Cost of Government Borrowing

Over 2017-18 there was a sharp rise in Indian government securities (G-Secs) interest rates unrelated to fundamentals. Examining each of the standard explanatory variables shows them to be inadequate...

by Ashima Goyal | On 29 Mar 2019

Sri Lanka’s Macroeconomic Challenges: A Tale of Two Deficits

The paper provides a narrative of Sri Lanka’s history of twin deficits, examines macroeconomic performance from the lens of twin deficits, and discusses the policies adopted to address macroeconomic i...

by Dushni Weerakoon | On 28 Mar 2019

Money and Central Bank Digital Currency

This paper takes an overview of the concepts and features of central bank money and private sector money and focuses on the actual performance of these types of money in selected advanced and emerging...

by Sayuri Shirai | On 18 Feb 2019

International Monetary Affairs in the Inter War Years: Limits of Cooperation

There were intensive efforts at monetary cooperation in the interwar years to overcome the imbalances accumulated during the war years to reduce the rate of inflation, reduce the rate of unemployment...

by Manmohan Agarwal | On 01 Feb 2019

Outward FDI and Crossborder M&As by Indian Firms: A Host Country-Level Analysis

This paper tries to understand the trends and the pattern of Outward Foreign Direct Investment (OFDI) by Indian firms and the factors that determine OFDI from India through Cross-Border Mergers and Ac...

by P.L. Beena | On 31 Jan 2019

Towards India’s New Fiscal Federalism

The paper explored deep analytical issues such as the nature of the objective function to be optimized, planning horizon, choice of the discount rates, etc. No wonder, his book “Capital and Developmen...

by Vijay Kelkar | On 30 Jan 2019

Testing the Friedman-Schwartz Hypothesis Using Time Varying Correlation

This study analyses the time varying correlation of money and output using the DCC GARCH model for the Euro, India, Poland, the UK and the US. Apart from simple sum money, this model uses Divisia mone...

by Taniya Ghosh | On 30 Jan 2019

The Basel Capital Requirement, Lending Interest Rate and Aggregate Economic Growth: An Empirical Study of Vietnam

This paper investigates the effects of the Basel II capital requirement implementation in Viet Nam on the bank lending rate and national output. The paper provides a theoretical framework as well as e...

by Nguyet Thi Minh Phi | On 28 Jan 2019

Examining the Trade-Off Between Price and Financial Stability in India

In recent years, many emerging economies including India have adopted inflation targeting framework. Post the global financial crisis, there is a growing debate on whether monetary policy should targe...

by Ila Patnaik | On 23 Jan 2019

Responses to Trade Opening: Evidence and Lessons from Asia

In various Asian countries, international trade has raised productivity, lowered mark ups through import competition (while increasing them through cheaper inputs that can be imported), raised wages,...

by Devashish Mitra | On 22 Jan 2019

Asian Development Outlook Forecast Accuracy 2007–2016

This paper assesses the accuracy of Asian Development Outlook growth and inflation forecasts for 43 Asian economies from 2007 to 2016, against the benchmark of World Economic Outlook projections by th...

by Benno Ferrarini | On 22 Jan 2019

Productivity and Trade Growth in Services: How Services Helped Power Factory Asia

This paper uses a theory-based measure of productivity-based comparative advantage to examine the trade performance of developing Asian economies in manufacturing and services over the 1995–2011 perio...

by Ben Shepherd | On 20 Jan 2019

Marketing: The Crucial Success Factor for Pakistan’s Credit Guarantee Scheme

This paper, confines the focus to a discussion of how inadequate marketing diluted the scheme’s impact. Specifically, several commercial banks could not tailor elements of their marketing mix—includin...

by Talha Nadeem | On 03 Jan 2019

The Impact of Trade Conflict on Developing Asia

This paper analyzes the effects of the current trade conflict on developing Asia using the Asian Development Bank’s Multiregional Input–Output Table (MRIOT), allowing us to calculate the impact on ind...

by Abdul Abiad | On 21 Dec 2018

Social Funding of Green Financing: An Application of Distributed Ledger Technologies

This paper contributes to the literature in two ways: First, it delineates a concrete application of DLTs in the field of green financing, which offers the potential to increase social welfare. Second...

by Naoyuki Yoshino | On 20 Nov 2018

Do Local Currency Bond Markets Enhance Financial Stability?

This paper empirically tests conventional wisdom on the stabilizing effect of LCBMs. To do so, it analyses and compare the financial vulnerability of developing countries during two episodes of financ...

by Donghyun Park | On 26 Oct 2018

Role of Bank Lending in Financing Green Projects: A Dynamic Stochastic General Equilibrium Approach

This paper develops an environmental dynamic stochastic general equilibrium (E-DSGE) model with heterogeneous production sectors. In particular, the model comprises some low-carbon emission firms that...

by Maria Teresa Punzi | On 19 Oct 2018

Money and Business Cycle: Evidence From India

This paper takes a New Keynesian model with non-separable money in utility to Indian data using maximum likelihood. The identification problem in isolating the effect of money on output and inflation...

by Ashima Goyal | On 21 Sep 2018

The Changing Network of Financial Market Linkages: The Asian Experience

The paper investigates the changing network of financial markets for six periods from 1995–2016, constructing a network that captures the concepts of the direction of links between markets, the signif...

by Biplob Chowdhury | On 21 Sep 2018

Green Energy Finance in India: Challenges and Solutions

The paper presents a granular understanding of the associated challenges of mobilizing such finances, drawing from the Indian perspective. It contributes to the present understanding by identifying th...

by Gopal K. Sarangi | On 24 Aug 2018

An Empirical Analysis of the Factors that Influence Infrastructure Project Financing by Banks in Select Asian Economies

This paper analyzes a critical aspect of expanding private finance to infrastructure by examining the role of bank lending to public–private partnership (PPP) projects through the project finance moda...

by Vivek Rao | On 24 Aug 2018

Evaluating India's Exchange Rate Regime Under Global Shocks

The paper assesses the performance of India's managed float with respect to maintaining a real competitive exchange rate, its effect on trade, on stability of currency and financial markets, and on in...

by Ashima Goyal | On 24 Aug 2018

Financial Barriers to Development of Renewable and Green Energy Projects in Asia

The expansion of green renewable energy has been very limited in all the Asian countries, despite their various differences. The contributing factors are numerous, but, the financial factor has been t...

by Hooman Peimani | On 16 Aug 2018

Short-term Migration in Rural India: The Impact of Nature and Extent of Participation in Agriculture

The paper analyses a nationally representative data set from India for the year 2013 in order to provide evidence on how short term migration is affected by household's ownership of land, and particip...

by S. Chandrasekhar | On 25 Jul 2018

Alternate Instruments to Manage the Capital Flow Conundrum: A Study of Selected Asian Economies

The paper analyses a nationally representative data set from India for the year 2013 in order to provide evidence on how short term migration is affected by household's ownership of land, and particip...

by Rajeswari Sengupta | On 25 Jul 2018

Portfolio Composition and Valuation Effects in Emerging Market Economies

Gross capital inflows and outflows to and from emerging market economies (EMEs) have witnessed a significant increase since early 2000s. This rapid increase in these flows accompanied by sharp rise in...

by Ashima Goyal | On 25 Jul 2018

Macroeconomic Overview of the Philippines and the New Industrial Policy

This short paper has two main sections. The first section presents a more detailed picture and overview of the macroeconomic performance of the Philippines behind the Philippines’ remarkable growth. T...

by Maureen Ane D. Rosellon | On 06 Jul 2018

National Strategy for Artificial Intelligence

This strategy document is premised on the proposition that India, given its strengths and characteristics, has the potential to position itself among leaders on the global AI map – with a unique bran...

by Niti Aayog GOI | On 19 Jun 2018

Federalism, Fiscal Asymmetries and Economic Convergence: Evidence from Indian States

This paper tests economic convergence across States in India by incorporating federal fiscal asymmetries and differentials in gross fixed capital formation at the state level. Using dynamic panel mode...

by Lekha Chakraborty | On 15 Jun 2018

The Impact of Monetary and Tax Policy on Income Inequality in Japan

This paper assesses the effects of the most recent monetary policy behavior of the Bank of Japan (BOJ) (in particular, zero interest rate policy and negative interest rate policy) and Japanese tax pol...

by Farhad Taghizadeh-Hesary | On 09 Jun 2018

Assessing the Effectiveness of IMF Programs Following the Global Financial Crisis: How Did It Change Since the Asian Crisis?

The paper identifies key features of International Monetary Fund (IMF)–supported programs following the 2008 global financial crisis. The statistical analysis of a large sample of countries that borro...

by Carlos De Resende | On 09 Jun 2018

Book Review: The Indian Ocean as a Historical Region

Review of 'The Indian Ocean in World History' by Edward A. Alpers, Oxford World History Series. Oxford: Oxford University Press, 2013. 172 pp. Illustrations, maps. $19.95 (paper), ISBN 978-0-19-5337...

by | On 06 Jun 2018

Estimating Elasticity of Transport Fuel Demand in Pakistan

This study investigates the fuel demand elasticities separately for petrol, diesel, and CNG using data from July 2004 to June 2015 for Pakistan. The results show that fuel demands are generally (own...

by Muhammad Omer | On 06 Jun 2018

Forward Guidance

The paper assesses the power of forward guidance—promises about future interest rates—as a monetary tool in a liquidity trap using a quantitative incomplete-markets model. The results suggest the effe...

by Marcus Hagedorn | On 24 Apr 2018

Asian Development Outlook (ADO) 2018: How Technology Affects Jobs

The economic growth outlook for developing Asia remains vibrant. Asian Development Outlook 2018 foresees continued momentum after growth accelerated to 6.1% in 2017. The region is expected to ex...

by Asian Bank | On 12 Apr 2018

Non-Linear, Asymmetric and TimeVarying Exchange Rate Pass-Through: Recent Evidence from India

Exploring nonlinearities and time variations in exchange rate pass-through (ERPT) to consumer prices in India for the period from April 2005 to March 2016, this paper finds ERPT is asymmetric with pas...

by | On 09 Apr 2018

Triggers and Barriers for ‘Exclusion’ To ‘Inclusion’ in the Financial Sector: A Country-Wise Scrutiny

There have been very few works focusing on the determinants and barriers of financial inclusion. The objective of this study is two folded. Firstly, to measure a efficient composite multi-dimensiona...

by | On 27 Mar 2018

University – Industry Collaborations: Asian Experience

Literature on the relationships and collaborations between universities, government aided research institutions and industrial enterprises is very rich. However, most of the studies deal with the Eu...

by N.S. Siddharthan | On 26 Mar 2018

Exchange Rate Instability and Trade: The Case of Pakistan

The paper says that the exchange rate is a vital macroeconomic variable and backbone of trade.

by M. Ali Kemal | On 19 Mar 2018

Monetary Policy: Its Changing Objectives, Instruments and Results

This paper seeks to examine how the objectives of monetary policy have changed over the years from one of supporting public investment to one of inflation control and still later to inflation targetin...

by | On 15 Mar 2018

People-to-People Partnership in Asia Africa Growth Corridor: Historical and Cultural Linkages

People-to-People Partnership (PPP) is an important and inevitable mode of interactions in the sphere of international relations. In any kind of developmental, diplomatic and cultural interactions and...

by | On 15 Mar 2018

Investment Choice with Managerial Incentive Schemes

In this paper we show that firms might get an additional strategic benefit from using marginal-cost-reducing investments in conjunction with a managerial incentive scheme. While both these instrumen...

by | On 12 Mar 2018

Managing Financial Globalization: Insights from the Recent Literature

This paper seeks to draw lessons for developing countries based on a survey of the recent literature on financial globalization. First, while capital account openness holds promises (by potentially lo...

by Shang-Jin Wei | On 10 Mar 2018

Trade, Financial Flows and Stock Market Interdependence: Evidence from Asian Markets

Liberalization and globalization of Newly Industrialized Economies have contributed to increased integration of capital markets. This study tests whether convergence of macroeconomic variables and e...

by | On 27 Feb 2018

Internationalisation of the Rupee

This paper evaluates the current status of the Indian Rupee as an international currency using the Chinn and Frankel (2008) framework, and explores the possibility of future Indian Rupee international...

by Shekhar Hari Kumar | On 27 Feb 2018

Social Rewards and the Design of Voluntary Incentive Mechanism for Biodiversity Protection on Farmland

The paper examines how endogenous social preferences could affect economic incentive design to encourage biodiversity protection on private land. A 'green' farmer may enjoy esteem from leading by exam...

by Rupayan Pal | On 22 Feb 2018

The Growth Slowdown and the Working of Inflation Targeting in India

The paper presents a variety of indicators to show that demand constrained output during the period of growth slowdown 2011-17. It also draws on research to show the macroeconomic structure of the eco...

by Ashima Goyal | On 22 Feb 2018

What Explains Current Account Surplus in Korea?

The paper says that this idiosyncrasy of Korea’s current account surplus seems to be related to increasing saving propensity of households especially among aged people.

by Han Chirok | On 01 Feb 2018

Economic Survey 2017: Volume II: Chapter 6: External Sector

India’s external sector continued to be resilient and strong in 2017-18 so far, with the Balance of Payments situation continuing to be comfortable with the Current Account Deficit at 1.8 percent of ...

by Arun Jaitley | On 31 Jan 2018

Economic Survey 2017: Volume II: Chapter 3: Monetary Management and Financial Intermediation

During 2017-18 (till January), monetary policy remained steady with only one policy rate cut in August. As the Y-o-Y effect of demonetisation wore off, the growth rate of both Currency in Circulatio...

by Arun Jaitley | On 31 Jan 2018

Fiscal Devaluations

We show that even when the exchange rate cannot be devalued, a small set of conventional fiscal instruments can robustly replicate the real allocations attained under a nominal exchange rate devalua...

by | On 25 Jan 2018

Technological Change, Automation and Employment: A Short Review of Theory and Evidence

A selective survey of recent papers in the area of technological change, automation and employment is presented. The objective is to convey analytical ideas and the empirical evidence that have inform...

by K. V. Ramaswamy | On 16 Jan 2018

Inequality, Employment and Public Policy

This paper examines dimensions of inequality including labour market inequalities and discusses public policies needed for reduction in inequalities. It discusses both inequality of outcomes and inequ...

by S.Mahendra Dev | On 16 Jan 2018

Prospects of India–Bangladesh Economic Cooperation: Implications for South Asian Regional Cooperation

In recent years, South Asia has received growing attention as a region that is integrating successfully into the global economy. To maximize the benefits in terms of faster growth and poverty reductio...

by Prabir De | On 19 Dec 2017

Response of Firms to Listing: Evidence from SME Exchanges

Public equity markets have increasingly become accessible to small and medium firms with the introduction of dedicated exchange that lower listing criteria to allow such firms to list their equity. Th...

by | On 11 Dec 2017

Monetary Policy and Credit Demand in India and Some EMEs

Impact of changes in policy rate of interest on demand for bank credit is examined for seven emerging market economies including India for the period 2002 to 2010. Panel data techniques are used after...

by | On 01 Dec 2017

A Region at Risk : The Human Dimensions of Climate Change in Asia and the Pacific

Asia and the Pacific continues to be exposed to climate change impacts. Home to the majority of the world’s poor, the population of the region is particularly vulnerable to those impacts. Unabated war...

by Asian Bank | On 23 Nov 2017

Severe Air Pollution and School Absences: Longitudinal Data on Expatriates in North China

The paper uses a six-year panel of 6,500 students at three international schools in a major city in north China to estimate how fluctuation in ambient PM2.5 over the preceding fortnight impacts daily...

by Haoming Liu | On 20 Nov 2017

Demonetisation Post-Truths

On the day when the Reserve Bank of India (RBI) finally reported that almost 99% of the proscribed currency notes of ?500 and ?1,000 denomination had returned to the banking system by 30 June 2017, th...

by | On 17 Nov 2017

Management of Capital Flows in India

Increased integration with global financial markets has amplified the complexity of macroeconomic management in India. The diverse objectives of a robust growth rate, healthy current account deficit,...

by Abhijit Sen Gupta | On 13 Nov 2017

Daily Stock Market Movements: From the Lens of News and Events

This study analyzes the effect of daily movements in KSE-100 Index due to different policies announced as well as incidents/events happened in the country.

by Shahid Raza | On 31 Oct 2017

Remittances for Growth: Initiatives for Remitters and Remittances

This paper argues that by some monetary and fiscal reforms, the investable part of remittances could be diverted to labour intensive and development projects, creating hundreds of thousands employment...

by Atiq Rehman | On 30 Oct 2017

New Issues Puzzle: Experience from Karachi Stock Exchange

Study finds that both groups of IPOs outperforms on first trading day, as average initial market adjusted returns of SOE and non-SOE IPOs are 27.65 percent and 22.53 percent respectively.

by Henna Malik | On 30 Oct 2017

Corporate Social Irresponsibility: Companies & PC&PNDT Act

Female foeticide because of preference for boys over girls for a host of reasons is gigantic in India. According to the estimates of Asian Centre for Human Rights, during 1991 to 2011, a total of 25,4...

by Asian Centre for Human Rights (ACHR) | On 26 Oct 2017

On Using Exchange Rate for Promoting Exports

The report says that there are well known explanations in contemporary economic literature which explain this counterproductive impact of depreciation.

by . Atiq-ur-Rehman | On 26 Oct 2017

An Assessment of Pakistan's Export Performance and the Way Forward

This paper examines in detail Pakistan’s export performance in the light of emerging global challenges and identifies key structural and policy issues that stifle Pakistan’s exports.

by Afia Malik | On 25 Oct 2017

Macroeconomic Impact of International Reserves: Empirical Evidence from South Asia

This paper constructs a dynamic macro model with new monetary policy rule to examine the implications of international reserve accumulation for macroeconomic outcomes such as economic growth and infla...

by Prakash Shrestha | On 18 Oct 2017

Techno-Economic Feasibility Of Grid-tied Solar Mini-Grids

The report narrates the lack of clarity on interconnection with the grid is a major issue.

by Vaishalee Dash | On 10 Oct 2017

Remittances and Exchange Rate Linkages: Experiences of Nepal

This paper concentrates on the impact of a few macroeconomic variables—nominal exchange rate, economic activity in host countries and workers' outflow—in determining the remittance inflows to Nepal.

by Bhubanesh Pant | On 09 Oct 2017

Central Bank Communication: The Practice in Nepal Rastra Bank and Impact on Inflation

The paper says that it will contribute to make monetary policy more effective and thus enhance its impact.

by Sarthak Karki | On 06 Oct 2017

Optimal Inflation Rate for Nepal

This paper estimates the optimal inflation rate in Nepal based on the data of the period 1978–2016.

by Nepal Rastra Bank Research Department NRB | On 28 Sep 2017

East Asian Financial and Economic Development

Japan, an isolated, backward country in the 1860s, industrialized rapidly to become a major industrial power by the 1930s. South Korea, among the world’s poorest countries in the 1960s,joined the rank...

by Randall Morck | On 25 Sep 2017

Money's Causal Role in Exchange Rate: Do Divisia Monetary Aggregates Explain More?

The paper investigate the predictive power of Divisia monetary aggregates in explaining exchange rate variations for India, Israel, Poland, UK and the US, in the years leading up to and following the...

by Taniya Ghosh | On 18 Sep 2017

The Plutocratic Bias in the Indian CPI

The Laspeyres-type consumer price index (CPI) is traditionally used to measure the changes in cost-of-living over time. Studies indicate this CPI suffers from a plutocratic bias, attaching greater wei...

by Dilip M. Nachane | On 18 Sep 2017

Estimating the Relationship between the Current Account, the Capital Account and Investment for India

Causality from the capital account (KA) to the current account (CA) of the balance of payments indicates disruption from capital flows while the reverse can indicate smooth financing of the CA that al...

by Ashima Goyal | On 15 Sep 2017

Monetary Transmission in India: Working of Price and Quantum Channels

The paper examines the strength and efficacy of transmission from the policy rate and liquidity provision to market rates in India, using event window regression analysis. The paper finds the interest...

by Ashima Goyal | On 15 Sep 2017

State Intervention: A Gift or Threat to India’s Sugarcane Sector?

This paper examines the nature, changes and factors responsible for issues and problems faced by the sugarcane growers and sugar mills in India. This paper is based on the latest available secondary d...

by Abnave Vikas B. | On 12 Sep 2017

The Operation of the Gold Standard in the Core and the Periphery Before the First World War

This paper examines the operation of the gold standard (GS) during the period 1870-1914, its heyday. It discusses the theory of balance of payments adjustment under the GS. Theory postulates automatic...

by Manmohan Agarwal | On 06 Sep 2017

India’s Phytonutrient Report - A Snapshot of Fruits and Vegetables Consumption, Availability and Implications for Phytonutrient Intake

The objective of the study is to understand the ‘actual’ consumption patterns of fruits and vegetables in India and compare this to the World Health Organization (WHO) ‘recommended’ quantity for an ad...

by Arpita Mukherjee | On 31 Aug 2017

Toward a New Frame for Regional Films: Manbhum Videos and the Other Side of (Indian) Cinema

This article focuses on the production and mass circulation of locally produced videos in and across socially marginalized areas of Bengal. It emerges from the research conducted on the video industry...

by Madhuja Mukherjee | On 31 Aug 2017

Onion Supply Chain Analysis: Constraints and Way Forward

The report says that the prices sometimes fall below cost of production making it uneconomical for the farmers.

by Dr Sohan Premi | On 31 Aug 2017

New Series of National Accounts- Better Estimation or Over Estimation?

The report says that the base year of GDP is also revised regularly to have it aligned with the structural shifts that the economy witnesses continuously.

by M. Singhi | On 24 Aug 2017

Developing India's Offshore Local Currency Bond Market: Lessons from Emerging Countries

This paper takes stock. It assesses the current market state and structure, surveys a cross-section of market participants to identify the relevant issues, and employs two case studies of EME peers, C...

by Renu Kohli | On 23 Aug 2017

GPG clauses in collective agreements, including summaries of the discussions in the trade unions

Social partners, sensibilisation, monitor, training, employees’, employment, trade unionists, problem, evaluation, transparency.

by Szilvia Borbély | On 21 Aug 2017

Comparison of Consumer and Wholesale Prices Indices in India: An Analysis of Properties and Sources of Divergence

This paper provides a comparative assessment of CPI and WPI in terms of its key characteristics, particularly on the method of compilation, distributional properties and measures of underlying inflat...

by Praggya Das | On 04 Aug 2017

Balance of Payments Manual for India

The report says that the BoP, thus, includes all transactions showing: (a) transactions in goods, services and income between an economy and the rest of the world, (b) changes of ownership and other c...

by Reserve Bank of India RBI | On 03 Aug 2017

What Explains Call Money Rate Spread in India?

The study focuses on various drivers of overnight inter-bank rate spread under the new liquidity management framework during July 2013 to December 2016. Applying OLS with Newey-West estimator and va...

by Sunil Kumar | On 03 Aug 2017

Reversing Pre-mature Deindustrialization for Jobs Creation: Lessons for ‘Make-in-India’ from Experiences of Industrialized and East Asian Countries

This paper presents new evidence on pre-mature deindustrialization being witnessed by India in terms of rising share of imports in final consumption. Given the compulsions of creation of jobs for 12...

by | On 03 Aug 2017

Phillips Curve Relationship in India: Evidence from State-Level Analysis

This paper revisits the issue of determinants of inflation in India in a Phillips curve framework and makes two key contributions in relation to existing studies. First, in the context of the Reserve...

by Harendra Behera | On 03 Aug 2017

Tracking Change Islamabad in Livelihoods, Service Delivery and Governance: Evidence from a 2012-2015 Panel Survey in Pakistan

The subject of this study is the relationship between the delivery of services, social protection and livelihoods assistance, and state legitimacy (measured here using perceptions of government perfor...

by Babar Shahbaz | On 01 Aug 2017

Reconfiguring International Financial Institutions: The BRICS Initiative

This paper examines the implications of the establishment of the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) for the international financial system and for the BRICS coun...

by Manmohan Agarwal | On 31 Jul 2017

Does Government Borrowing Crowd out Private Sector Credit in Pakistan

An analysis of the impact of government borrowing from the scheduled banks on the credit to private sector in Pakistan, using monthly data from 1998:M6 to 2015:M12. We find that a one percentage poi...

by Sajjad Zaheer | On 31 Jul 2017

Energy, Poverty and Development: A Primer for the Sustainable Development Goals

The seventh goal of the Sustainable Development Goals (SDGs) is dedicated to ensuring access to affordable, reliable, sustainable and modern energy for all by 2030. While energy was implicit in the Mi...

by Hannah Goozee | On 28 Jul 2017

Valuation of Subsoil Minerals: Application of SEEA for Bangladesh

The present paper is an attempt to conduct a valuation of the three most important exhaustible natural resources, viz., natural gas, coal and hard rock, via the System of Environmental-Economic Accou...

by Mahfuz Kabir | On 27 Jul 2017

Land Live: Land ownership in Rural India and Intra Household Exchanges

The incidence of parent-child co-residence in India is among the highest in the world. This paper examines the role of intra-household exchanges and potential bequests in creating incentives for adult...

by Sonalde Desai | On 27 Jul 2017

Asia Bond Monitor - June 2015

The report narrates that the local currency bond market in emerging East Asia continued to expand in 1Q15 to reach US$8.3 trillion at end-March.

by Asian Development Bank Institute | On 24 Jul 2017

The Effect of Oil Shocks and Cyclicality in Hiding Indian Twin Deficits

The paper estimates the relationship between the current account and fiscal deficit, and the real exchange rate, in a structural vector auto regression, with Indian data for the managed float period 1...

by Ashima Goyal | On 22 Jul 2017

Making Money Work: Financing a Sustainable Future in Asia and the Pacific

This report explores some of the ways forward. It highlights not just the need to inject more money into investments that contribute to sustainable development, but also to attract funds toward them—t...

by Asian Development Bank Institute | On 21 Jul 2017

Households' Inflation Expectations in India: Role of Economic Policy Uncertainty and Global Financial Uncertainty Spill-over

Inflation expectations are an important marker for the conduct of monetary policy. Using a Bayesian structural VAR-X model that includes the inflation expectations of general public based on the Infla...

by Taniya Ghosh | On 21 Jul 2017

Local Currency Bonds and Infrastructure Finance in ASEAN+3

This study was undertaken under ABMI. It addresses two key questions: (i) Why is local currency bond financing not more widely used for infrastructure projects in ASEAN+3? and (ii) What can be done to...

by Asian Development Bank Institute | On 18 Jul 2017

Reforming the Financing System for the Road Sector in the People’s Republic of China

The People’s Republic of China (PRC) implemented a Fuel Tax Reform in 2009 that made significant changes to the way the country funds and delivers its ‘ordinary road’ program.

by Asian Development Bank Institute | On 17 Jul 2017

Maldives: Overcoming the Challenges of a Small Island State

This report provides support to the Maldivian government in formulating its high-priority policies by identifying the critical constraints to achieving inclusive growth. The report also provides polic...

by Asian Development Bank Institute | On 12 Jul 2017

Facilitating Foreign Exchange Risk Management for Bond Investments in ASEAN+3

The report says that the bond investors typically have a long position in local currency bond markets. To manage their foreign exchange risk, they may want to hedge that exposure for a period of time.

by Asian Development Bank Institute | On 12 Jul 2017

Harmonization and Standardization of Bond Market Infrastructures in ASEAN+3: ASEAN+3 Bond Market Forum Sub-Forum 2 Phase 3 Report

This report is an outcome of Phase 3 discussions under the ASEAN+3 Bond Market Forum Sub-Forum 2, which have focused on making bond market infrastructures in the region more inter-operable through the...

by Asian Development Bank Institute | On 11 Jul 2017

Asia Bond Monitor - November 2015

The report says that yields for 10-year local currency (LCY) government bonds in emerging East Asia were mostly down between 1 September and 31 October. Investor confidence was buoyed as financial mar...

by Asian Development Bank Institute | On 29 Jun 2017

Fiji: Building Inclusive Institutions for Sustained Growth - Executive Summary

The report says Fiji’s economy has seen 5 years of positive growth since 2010 - one of its few episodes of sustained growth since 1970. Growth averaged 3.3% a year during 2010-2014, which is nearly fo...

by Asian Development Bank Institute | On 27 Jun 2017

The Asian Bond Markets Initiative: Policy maker achievements and challenges

This paper also provides recommendations for addressing new sources of market volatility and other challenges within and outside the framework of the Asian Bond Markets Initiative.

by Asian Development Bank Institute | On 15 Jun 2017

Asia Bond Monitor - June 2016

The report says that the global economic environment also affects the region’s bond yields, emphasizing the importance of domestic macroeconomic stability and bond market resilience in the face of glo...

by Asian Development Bank Institute | On 06 Jun 2017

Asian Development Outlook 2016 Supplement: Asia's Growth Prospects Undimmed by Brexit Vote

Growth in Central Asia is weaker than predicted, while expansion in the Pacific is now expected to be a touch higher. Forecasts are unchanged for East, South, and Southeast Asia. While the Brexit vote...

by Asian Development Bank Institute | On 02 Jun 2017

Myanmar Transport Sector Policy Note: How to Reduce Transport Costs

This report includes proposed measures for Myanmar’s road sector, rail sector, river transport, and policy measures, summarizing the costs and benefits of each, ranked by their benefit-to-cost-ratio.

by Asian Development Bank Institute | On 02 Jun 2017

Myanmar Transport Sector Policy Note: Railways

The immediate priority must be to implement policies that will enable MR to retain as much of its current market as is economically justified over the next 5–10 years, while ensuring its finances are...

by Asian Development Bank Institute | On 31 May 2017

Judicial Review and Money Bills

Under the Constitution of India, for a bill to be enacted into a law, it has to be approved by both Houses of the Parliament - the Lower House (Lok Sabha) and the Upper House (Rajya Sabha). There is o...

by Pratik Datta | On 26 May 2017

Asia Bond Monitor - September 2016

The report notes that yields for 2-year and 10-year local currency government bonds in emerging East Asia were mostly lower between 1 June and 15 August and stock markets in the region recorded gains...

by Asian Development Bank Institute | On 23 May 2017

Asian Development Outlook 2016 Update: Meeting the Low-Carbon Growth Challenge

This Update retains the projections previously published in Asian Development Outlook 2016 (ADO 2016) in March. Gross domestic product (GDP) in the region is expected to grow at 5.7% in 2016 and 2017,...

by Asian Development Bank Institute | On 16 May 2017

ASEAN+3 Bond Market Guide 2016: Malaysia

According to data published on AsianBondsOnline, total LCY bonds outstanding in Malaysia barely moved in the third quarter of 2015 compared with the previous quarter, standing at MYR1,076 billion at t...

by Asian Development Bank Institute | On 16 May 2017

Identity for Development in Asia and the Pacific

The objective of this report is to help governments and multilateral institutions assess and integrate ID systems into their development activities. The intended audience includes government policy ma...

by Asian Development Bank Institute | On 15 May 2017

Asia Bond Monitor - November 2016

This issue of the Asia Bond Monitor includes Local currency (LCY) government bond yields in advancedeconomies and emerging East Asia climbed between 31 October and 18 November due to increased concern...

by Asian Development Bank Institute | On 11 May 2017

Asian Development Outlook Supplement: Asia's Economies Steady Despite Global Uncertainty

The outlook for developing Asia remains broadly as forecast in Asian Development Outlook 2016 Update. Despite an extraordinary and temporary growth dip affecting one of the region’s largest economies,...

by Asian Development Bank Institute | On 10 May 2017

Asia Bond Monitor - March 2017

This issue of the Asia Bond Monitor includes three special discussion boxes. Box 1 discusses the risk of Federal Reserve rate hikes to emerging Asia’s financial stability. Box 2 analyzes the risks to...

by Asian Development Bank Institute | On 05 May 2017

Cost Channel, Interest Rate Pass-Through and Optimal Policy under Zero Lower Bound

This paper analyzes optimal monetary policy under zero lower bound in the presence of cost channel. Cost channel introduces trade-o¤ between output and inflation when economy is out of ZLB. As a res...

by Taniya Ghosh | On 04 May 2017

Differential Impacts of Currency Undervaluation on Growth and Exports in Natural Resource vs. Manufacturing Exporting Countries

This paper aims to analyze the differential impact of exchange rate undervaluation on growth and exports in different countries. The paper considers two sets of countries in our dataset-18 countries a...

by Sanika Sulochani Ramanayake | On 03 May 2017

Smart Cities Movement in BRICS

BRICS nations are today cooperating on numerous matters of mutual concern. The cooperation is the result of years of deliberation, hard work and commitment. Since the formation of the grouping in the...

by | On 14 Apr 2017

Global Wage Report 2016/17: Wage Inequality in the Workplace

This new ILO Global Wage Report – the fifth in a series that now spans over a decade – contributes to this agenda by making comparative data and information on recent wage trends available to governme...

by International Labour Organization [ILO] | On 14 Apr 2017

Macroeconomic Impact of Demonetisation: A Preliminary Assessment

The analysis in this paper suggests that demonetisation has impacted various sectors of the economy in varying degrees; however, in the affected sectors, the adverse impact was transient and felt ma...

by Reserve Bank of India RBI | On 21 Mar 2017

Macroeconomic Impact of Demonetisation-A Preliminary Assessment

Demonetisation announced on November 8, 2016 was aimed at addressing corruption, black money, counterfeit currency and terror financing. Although demonetisation holds huge potential benefits in the me...

by Reserve Bank of India RBI | On 15 Mar 2017

The Origins and Extent of Entrepreneurial Action-Orientedness: An Experimental Study

We test the hypothesis, based on popular and theoretical perspectives, that entrepreneurs are more action-oriented than other occupational groups. We compare their playing strategies in an optimal sto...

by | On 21 Feb 2017

Budget in the Time of Demonetisation

Demonetisation is a weapon to stop the black money in the country. But cash is only a small portion of black money. Also the economy has been affected by this step. How will the government tackle this...

by Rakesh Mumbai | On 27 Jan 2017

Demonetization of Currency Notes: Significance and Challenges

Demonetization is the act of stripping a currency unit of its status as legal tender. Demonetization is necessary whenever there is a change of national currency. The old unit of currency must be reti...

by | On 18 Jan 2017

Demonetization, the Cash Shortage and the Black Money

Demonetisation of INR 500 and INR 1,000 notes in India on November 8, 2016 is different from many other countries’ scrapping of high value notes in two respects – the withdrawal of their legal tende...

by Ashok K. Lahiri | On 02 Jan 2017

Indian Human Resources Mobility: Brain Drain versus Brain Gain

India is a major source of migrants, especially of highly-skilled and well-trained workers. This paper attempts to show that even with a high number of Indian talents abroad, India – as well as destin...

by | On 19 Dec 2016

Vital Stats: Parliament functioning in the Winter Session 2016

Winter Session 2016 has been one of the least productive sessions for both Houses in the last 15 years, with repeated disruptions on the issue of demonetisation of currency. While eight Bills were int...

by Kusum Malik | On 19 Dec 2016

Inflation in Pakistan: Money or Oil Prices

The study attempted to investigate the determinants of inflation in case of Pakistan and to check the validity of monetarist stance that inflation is always and everywhere a monetary phenomenon by i...

by Mehak Moazam | On 07 Dec 2016

E-governance, Accountability, and Leakage in Public Programs: Experimental Evidence from a Financial Management Reform in India

In collaboration with the Government of Bihar, India, a large-scale experiment is conducted to evaluate whether transparency in fiscal transfer systems can increase accountability and reduce corrupt...

by Abhijit Banerjee | On 02 Dec 2016

Labour Market trends analysis and labour migration from South Asia to Gulf Cooperation Council countries, India and Malaysia

Temporary labour migration is often touted as a triple-win: a win for destination countries that can support a level of economic activity that would be impossible without foreign labour; a win for cou...

by | On 24 Nov 2016

Demonetization and its Impact

The move by the government to demonetize Rs.500 and Rs.1000 notes by replacing them with new Rs.500 and Rs.2000 notes has taken the country with surprise. The move by the government is to tackle the m...

by | On 18 Nov 2016

Endogenous Leadership in a Federal Transfer Game

Conventional wisdom suggests that, to negate fiscal externalities imposed by provinces which spend too much and raise lower local resources, central authority should always be a first mover in the t...

by Bodhisattva Sengupta | On 14 Nov 2016

Cross-country Econometric Study on the Impact of Fiscal Incentives on FDI

The increasing level of competition for foreign direct investment (FDI) in the ‘90s triggered many countries to offer various fiscal incentives. Specifically, many Asian countries persistently keep...

by Ma. Laarni D. Revilla | On 11 Nov 2016

Black Money, Corruption and Demonetisation

The demonetisation of currency after a long period of 38 years was a welcome and bold step taken by the Government of India on November 8, 2016. The last demonetisation was implemented in 1978 by wi...

by Martin Patrick | On 11 Nov 2016

A Study on Widening of Tax Base and Tackling Black Money

Beyond the issue of unaccounted monies lying overseas, however, is the issue of unaccounted monies lying in India and what is perceived to be the parallel economy. There is, of course, this issue of w...

by FICCI Federation of Indian Chambers of Commerce and Indu | On 09 Nov 2016

The Elephant That Became a Tiger 20 Years of Economic Reform in India

A foreign exchange crisis in 1991 induced India to abandon decades of inward-looking socialism and adopt economic reforms that have converted the once-lumbering elephant into the latest Asian tiger. I...

by | On 28 Oct 2016

Valuation of Coastal and Marine Ecosystem Services in India: Macro Assessment

The aim of this study is to value, in monetary units, coastal and marine ecosystem services in India. The reasons for doing so are two–fold: i) the destruction and degradation of coastal ecosystems...

by K. S. Kavi Kumar | On 25 Oct 2016

Prevalence of Long Hours and Skilled Women’s Occupational Choices

Gender differences in occupations account for a sizable portion of the persistent gender pay gap. This paper examines the relationship between the demand for long hours of work (as proxied for by the...

by | On 10 Oct 2016

Regime Shifts in India’s Monetary Policy Response Function

The objectives of monetary policy have always been a topic of intensive debate. This debate has resurfaced during the past few years. In India too monetary policy-making appears to have undergone si...

by Lokendra Kumawat | On 10 Oct 2016

Financial Stability in a Weak Global Environment

Even almost eight years since resorting to the extraordinary monetary and fiscal measures to counter the after-effects of the Global Financial Crisis, authorities are still left wondering about rela...

by S.S. Mundra | On 10 Oct 2016

MenEngage Global Alliance 2015 Annual Report

This is the third annual report for the MenEngage Alliance’s Global Strategic Plan 2012-2016, in which the main activities and achievements of 2015, based on the four strategic objectives are reported...

by MenEngage Global Alliance | On 07 Oct 2016

Evaluating Asian FTAs: What do Gravity Equation Models Tell Us?

This research evaluates the performance of free trade agreements by analyzing the determinants of trade flows of Asian economies for a panel of thirty-one countries during 2007-2014 using a Gravity...

by Sunder Ramaswamy | On 29 Sep 2016

Measuring Effects of Snap on Obesity at the Intensive Margin

The effects of the Supplemental Nutrition Assistance Program (SNAP) on obesity have been the focus of much debate. However, causal interpretation of estimates from previous studies, comparing particip...

by Lorenzo Almada | On 28 Sep 2016

Let's Play - An Action Plan to achieve 50 Olympic Medals

NITI Aayog presents a 20 point action plan that highlights some key areas in sports that require improvement. These action points have been divided to a short term vision (4 to 8 years) and a medium...

by Niti Aayog GOI | On 27 Sep 2016

Long-Range Growth: Economic Development in the Global Network of Air Links

This paper studies the impact of international long-distance flights on the global spatial allocation of economic activity. To identify causal effects, it exploits variation due to regulatory and tech...

by Filipe Campante | On 21 Sep 2016

Development of Grassroots and Youth Football in India: Current and Future Opportunities

According to the Basketball Federation of India, Basketball is now the fastest-growing sport among boys and girls, with five million participants-which they claim is second only to soccer 2 The Indian...

by | On 09 Sep 2016

Words Matter: A Textual Analysis of SBP’s Monetary Policy Reviews

In this paper a textual analysis is performed of monetary policy statements issued during the past ten years by State Bank of Pakistan and compare them with policy reviews of seven selected central ...

by Asif Mahmood | On 07 Sep 2016

Emotional Judges and Unlucky Juveniles

This paper analyzes the effects of emotional shocks associated with unexpected outcomes of football games played by a prominent college team in the state. It investigates the behavior of judges, the c...

by Ozkan Eren | On 07 Sep 2016

The Independence of the Central Bank

Central banking does not mean just rates cuts and rate rising. There are many decisions to be taken sometimes unpopular or hard-to-explain ones, to be made under conditions of extreme uncertainty. The...

by Raghuram G. Rajan | On 06 Sep 2016

Impact of Caregiver Incentives on Child Health: Evidence from an Experiment with Anganwadi Workers in India

This paper provides evidence of effectiveness for performance pay among government caregivers to improve child health in India. In a controlled study of 160 daycare centers serving over 4,000 children...

by | On 29 Aug 2016

The Integration of China and India into the World Economy: A Comparison

China and India have successfully integrated into the world economy. Once specialised in textiles, they have developed new export-oriented sectors linked to the information and communication technolog...

by | On 24 Aug 2016

Food Security and Agricultural Development in Times of High Commodity Prices

Efforts to promote food security must distinguish between short-term and medium-term measures, but also between countries with agricultural potential and without such potential, argues this paper. Fur...

by | On 24 Aug 2016

Estimation of the Food Poverty Line

To monitor changes in absolute poverty across time, it is crucial to ensure that the established poverty line is a fixed standard of living that represents the minimum standard required by an individu...

by Jose Ramon Alber | On 17 Aug 2016

Public Expenditure, Governance and Human Development: A Case of Madhya Pradesh

This paper examines the link between quality of governance, public expenditure and human development outcomes in the state of Madhya Pradesh. The role of governance is measured in five dimensions: Pol...

by N R Bhanumurthy | On 12 Aug 2016

Inequality, Poverty, and Antipoverty Transfers

This report reviews the main trends in global poverty, assesses projections on poverty trends for the medium term, and considers the implications for antipoverty policy. Three main points emerge from...

by Armando Barrientos | On 10 Aug 2016

Market Integration and Price Transmission in Tajikistan’s Wheat Markets: Rising Like Rockets but Falling Like Feathers?

The extent of market integration and transmission of food price shocks is a major determinant of price stability and overall food security, particularly in developing countries. Few studies have exam...

by Jarilkasin Ilyasov | On 08 Aug 2016

Cognitive Performance and Labour Market Outcomes

This paper uses information from the National Longitudinal Survey of Youth 1979 (NLSY79) and supplementary data sources to examine how cognitive performance, measured at approximately the end of secon...

by Dajun Lin | On 03 Aug 2016

Tobacco Regulation and Cost-Benefit Analysis: How Should we Value Foregone Consumer Surplus?

This paper outlines the history of the FDA’s recent attempts to regulate cigarettes and other tobacco products and how they have valued foregone consumer surplus in cost-benefit analyses. It discusses...

by Helen Levy | On 03 Aug 2016

International Evidence on Long Run Money Demand

This paper explores the long-run demand for M1 based on a dataset comprising 31 countries since 1851. In many cases, co integration tests identify a long-run equilibrium relationship between either ve...

by Luca Benati | On 01 Aug 2016

How Japan and the US can Reduce the Stress of Aging

In this paper, the author simulates the Dependency Ratio (DR) under various conditions and makes comparisons with the US. Japan has experienced a large increase in its DR because its fertility rate is...

by Claudia Goldin | On 28 Jul 2016

South-South Migration and Remittances

The impact of South-South migration on the income of migrants and natives is smaller than for South-North migration. However, even small increases in income can have substantial welfare implications f...

by | On 27 Jul 2016

External Validity in a Stochastic World

This paper examines the generalizability of internally valid estimates of causal effects in a fixed population over time when that population is subject to aggregate shocks. This temporal external val...

by Mark Rosenzweig | On 27 Jul 2016

New Evidence on Trust and Well-Being

This paper reports existing and fresh evidence on some of the direct and indirect linkages between trust and subjective well-being. This paper first uses data from three large international surveys –...

by John Helliwell | On 26 Jul 2016

Business as Usual: Responses within ASEAN to the Food Crisis

The United Nations estimates that the number of people worldwide who suffer from chronic food shortages might now exceed one billion. That skyrocketing prices of food in general, and...

by Randall Arnst | On 22 Jul 2016

Searching for Religious Discrimination among Anganwadi Workers in India: An Experimental Investigation

This paper examines whether, in India, discriminatory practices by government-employed child caregivers along religious lines, lead to differential health outcomes among the care receiving children. C...

by Utteeyo Dasgupta | On 19 Jul 2016

Oil Price, Exchange Rate and the Indian Macro Economy

The paper investigates the dynamic relationship between movements in oil prices and exchange rates with macroeconomic variables like price, output, interest rate and money by using structural vector a...

by Taniya Ghosh | On 12 Jul 2016

Old-Age Pension and Extended Families: How is Adult Children’s Internal Migration Affected?

This paper makes use of the most recent social pension reform in rural China to examine whether receipt of the pension payment equips adult children of pensioners to migrate. Employing a regression di...

by Xi Chen | On 11 Jul 2016

Does Social Health Insurance Reduce Financial Burden? Panel Data Evidence from India

Indian government launched the Rashtriya Swasthya Bima Yojana (RSBY), a national health insurance scheme, in 2008 that provides cashless health services to poor households in India. The scheme is eval...

by Mehtabul Azam | On 11 Jul 2016

Impact of Independent Directors’ Resignations on Firm’s Governance

Directors are liable for any act of omission or commission. They have a reputation to protect. While Independent directors might engage in passive monitoring; when apprised of a decision where the pro...

by Preet Singh | On 05 Jul 2016

Irrigation Water Management for Food Security in India: The Forgotten Realities

India’s water crisis is often perceived to have been perpetuated by the widening gap between the utilizable water resources and the aggregate demand for water in agriculture and other sectors in certa...

by | On 04 Jul 2016

Global Commodity Prices and Inflation in a Small Open Economy

Global commodity prices surge of 2007-08 sent an inflationary shock across the countries. 2014 global prices descend resulted in significant disinflation in many countries and even deflation in some ...

by Muhammad Nadim Hanif | On 30 Jun 2016

The Intimate Link between Income Levels and Life Expectancy: Global Evidence from 213 Years

The paper finds a systematic and economically sizeable relationship between income levels and life expectancy in a panel dataset of 197 countries over 213 years. By itself, GDP/capita explains more th...

by Michael Jetter | On 28 Jun 2016

Capabilities and Skills

This paper discusses the relevance of recent research on the economics of human development to the work of the Human Development and Capability Association. The recent economics of human development b...

by James J. Heckman | On 28 Jun 2016

How Successful Are Banking Sector Reforms in Emerging Market Economies? Evidence from Impact of Monetary Policy on Levels and Structures of Firm Debt in India

In this paper investigates the success of banking reforms in India where significant banking reforms have been introduced since 1990s. Using the argument that well functioning credit markets would ref...

by Sumon Kumar Bhaumik | On 27 Jun 2016

Labor Migration, Skills & Student Mobility in Asia

Labor migration from and within Asia is a key and growing component of international migration flows, and the joint roundtable by the Asian Development Bank Institute (ADBI), the International Labour...

by OECD Development Centre’s Social Cohesion Uni Social Cohesion Unit | On 21 Jun 2016

Situation of Women in South Asia: Some Dimensions

South Asian women and their status is being assessed here to highlight the similarities in the conditions faced by women despite the diversities stemming from class, religion, culture and locality. Th...

by Preeti Rustagi | On 20 Jun 2016

Income Mobility among Social Groups in Indian Rural Households: Findings from the Indian Human Development Survey

The paper analyses income mobility across different social groups in India using data from the Indian Human Development Survey (IHDS) collected in 2004–05 and 2011–12. Indices signifying different n...

by Thiagu Ranganathan | On 16 Jun 2016

The Revival of the Silk Roads (Land Connectivity) in Asia

This paper argues that contrary to popular belief, in the bygone era, there was not one but two Silk Roads in Asia – the Northern and the less well-known South-western Silk Road (SSR). The SSR connect...

by | On 10 Jun 2016

Global Commodity Prices and Inflation in a Small Open Economy

Global commodity prices surge of 2007-08 sent an inflationary shock across the countries. 2014 global prices descend resulted in significant disinflation in many countries and...

by Muhammad Nadim Hanif | On 06 Jun 2016

Social Studies of Social Science: A Working Bibliography

The social sciences are currently going through a reflexive phase, one marked by the appearance of a wave of studies which approach their disciplines’ own methods and research practices as their emp...

by Michael Mair | On 01 Jun 2016

Housing Policy in the Republic of Korea

This paper evaluates housing policy in the Republic of Korea over the past several decades, describes new challenges arising from the changing environment, and draws lessons for other countries. The m...

by Kyung-Hwan Kim | On 18 May 2016

Game Theoretical Approach to Regulate the Public-Owned River Water Utilities: A Case Study of Cauvery River

Management of regulated water systems has become increasingly complex due to rapid socio-economic growth and environmental changes in river basins over recent decades. This paper focusses on the publ...

by Zareena Begum Irfan | On 17 May 2016

India Policy Forum 2014 - 2015

The episode of volatility starting on May 22, 2013, when Federal Reserve Chairman Ben Bernanke first spoke of the possibility of the US central bank “tapering” its security purchases, had a sharp nega...

by Shekhar Shah | On 09 May 2016

Issues in India's External Sector

The lecture examines the recent developments in the external sector and address some critical issues such as the appropriate level of current account deficit, exchange rate policy, adequacy of reserve...

by C. Rangarajan | On 06 May 2016

Government Expenditure in India: Composition, Cyclicality and Multipliers

This paper assesses the fiscal space and cyclicality of total Indian Central Government expenditure and its major components

by Ashima Goyal | On 02 May 2016

Monetary Transmission in Developing Countries: Evidence from India

This paper examines what the empirical evidence has to say about the strength of monetary transmission in India, using the structural vector autoregression (SVAR) methods that have been applied broadl...

by | On 02 May 2016

Payment systems to facilitate South Asian integration

The paper examines the role payment systems can play in greater South Asian integration, including intra regional trade facilitation. As payment systems become more sophisticated and thei...

by | On 02 May 2016

Foreign Exchange Markets, Intervention and Exchange Rate Regimes

The paper describes the institutional features of these markets, with special emphasis on the process of liberalization and deepening in Indian FX markets, in the context of global integration. Since...

by Ashima Goyal | On 02 May 2016

Limits to Arbitrage: The Case of Single Stock Futures and Spot Prices

Market frictions limit arbitrage, but these frictions affect different stocks differently. Using intraday data on a liquid single stock futures and spot market, we examine the arbitrage efficiency of...

by Nidhi Aggarwal | On 02 May 2016

Impact of Trilemma Indicators on Macroeconomic Policy: Does Central Bank Independence Matter?

This paper shows that the institutional changes such as Inflation Targeting (IT) helps lower inflation without depending upon the level of Central Bank Independence (CBI) in a country as is suggested...

by | On 02 May 2016

Is there a Case for Exchange Rate Coordination in South Asia?

This paper evaluates the case for greater exchange rate coordination in South Asia. With inter-regional integration in South Asia progressing at a faster pace than the region's integration with the wo...

by Rajeswari Sengupta | On 02 May 2016

Reassessing Exchange Rate Overshooting in a Monetary Framework

This paper revisits the Dornbusch exchange rate overshooting in a different model setting.

by Taniya Ghosh | On 02 May 2016

Short Term Migrants in India: Characteristics, Wages and Work Transition

With 53 percent of India's labour force still engaged in agriculture it is apparent that India has not witnessed a reduction in the share of population working in agriculture, primarily due to a dear...

by | On 02 May 2016

Questions and Answers on the European Commission Communication: The Paris Protocol – A Blueprint for Tackling Global Climate Change beyond 2020

The Communication sets out the EU's vision for a transparent and dynamic, legally binding United Nations climate change agreement that sets the world on a pathway to prevent global warming from reachi...

by European union | On 26 Apr 2016

Elderly in India

Population ageing has profound social, economic and political implications for a country. The increasing number of older persons put a strain on health care and social care systems in the country. O...

by Ministry of Statistics and Prog Implementation (MOSPI) | On 25 Apr 2016

The Functioning of Medical Council of India

The report examines the role and functioning of Medical Council of India with the ultimate aim of suggesting veritable solutions to the inadequacies that are currently plaguing our medical education a...

by Rajya Sabha Secretariat | On 08 Apr 2016

Moderating Growth and Structural Change in the People’s Republic of China: Implications for Developing Asia and Beyond

A gradual moderation in growth is currently underway in the People’s Republic of China (PRC). This is the result of a combination of factors, including a shrinking working-age population, the natural...

by | On 06 Apr 2016

Rules of the Monetary Game

Aggressive monetary policy actions by one country can lead to significant adverse cross-border spillovers on others, especially as countries contend with the zero lower bound. If countries do not inte...

by Prachi Mishra | On 31 Mar 2016

Dynamics of Emigration and Remittances in Kerala: Results from the Kerala Migration Survey 2014

Kerala Migration Survey (KMS) 2014 is the sixth in the series of studies on international and internal migration from Kerala undertaken by the Centre for Development Studies as an ongoing project si...

by K.C. Zachariah | On 28 Mar 2016

India-APEC Products Trade: Importance of Trade in Intermediate Products and the Challenges Ahead

India’s principal trade partners are countries/economies in the Asia-Pacific Economic Cooperation (APEC) region, and over the last decade the share of APEC in India’s trade has been growing. Specifica...

by Deeparghya Mukherjee | On 28 Mar 2016

The Economic Impact of Child Labour

The paper contains a theoretical discussion and a literature survey on the economic impact of child labour. Three main categories of economic impact of child labour are analysed: 1) the effects of chi...

by Rossana Galli | On 21 Mar 2016

Migration Remittances and Employment: Short-term Trends and Long-term Implications

This Working Paper gives the results of the 2007 round of the Migration Monitoring Studies (MMS) being conducted periodically by the Centre for Development Studies. It covers three areas: migration, r...

by | On 21 Mar 2016

Optimal Monetary Policy in the Presence of Sizable Informal Sector and Firm Level Credit Constraint

Optimality of pro-cyclical monetary policy in the presence of informal sector and firm level constraint is analysed. The findings suggest that in case of export demand shock pro-cyclical monetary pol...

by Waqas Ahmed | On 21 Mar 2016

Impact of Property Rights Reform to Support China’s Rural-Urban Integration

As part of a national experiment, in 2008 Chengdu prefecture implemented ambitious property rights reforms, including complete registration of all land together with measures to ease transferability a...

by Songqing Jin | On 20 Mar 2016

Exchange Market Pressure in India

In this paper, we empirically investigate the episodes of currency market stress/crisis in India during the period 1992 – 2012 with the help of a monthly EMP index for India constructed for this perio...

by Anuradha Guru | On 16 Mar 2016

Metaguidelines for Water and Climate Change For practitioners in Asia and the Pacific

The Metaguidelines for Water and Climate Change were developed by the Asia–Pacific Water Forum (APWF) and Asian Development Bank (ADB) in collaboration with the Global Water Partnership (GWP). This pu...

by Asian Development Bank Institute | On 15 Mar 2016

Financial Soundness Indicators for Financial Sector Stability - A Tale of Three Asian Countries

The 1997 Asian financial crisis and the 2008 global financial and economic crisis further demonstrated the importance of financial stability. Both crises showed how balance sheets of financial institu...

by Asian Development Bank Institute | On 15 Mar 2016

Investing in Natural Capital for a Sustainable Future in the Greater Mekong Subregion

The Greater Mekong Subregion (GMS) is poised to continue developing at a significant pace. The subregion is well placed to benefit from the emerging Association of Southeast Asian Nations Economic Com...

by Asian Development Bank Institute | On 15 Mar 2016

Challenges and Opportunities for Skills Development in Asia Changing Supply, Demand and Mismatches

The education systems in Asia, including technical and vocational education and training (TVET), were well suited at the time to allow Asia to become the world’s assembly line. In simple terms, formal...

by Sungsup Ra | On 15 Mar 2016

Implementation of the ASEAN +3 Multi - Currency Bond Issuance Framework

ABMI aims to develop efficient and liquid bond markets in Asia, which would enable better utilization of Asian savings for Asian investments. ABMI can also contribute to the mitigation of currency and...

by Asian Development Bank Institute | On 15 Mar 2016

Implications of MGNREGS on Labour Market, Wages and Consumption Expenditure in Kerala

This paper makes an attempt to evaluate the implications of MGNREGS in labour short economy of Kerala. The analysis of NSSO unit level data revealed inter-state differences in implementation of the sc...

by V. Dhanya | On 14 Mar 2016

Global Spillovers and Monetary Policy Transmission in India

Do global spillovers clog transmission channels of monetary policy through domestic financial markets? Drawing on stylised facts and using a dynamic factor model to develop an indicator of global spil...

by Michael Debabrata Patra | On 14 Mar 2016

Towards Rules of the Monetary Game

There are few areas of robust growth around the world, with the IMF repeatedly reducing its growth forecasts in recent quarters. This period of slow growth is particularly dangerous because both ind...

by Raghuram G. Rajan | On 14 Mar 2016

Can the Learnability Criterion Ensure Determinacy in New Keynesian Models?

Forward-looking RE models such as the popular New Keynesian (NK) model do not provide a unique prediction about how the model economy behaves. We need some mechanism that ensures determinacy. McCallum...

by Patrick Minford | On 13 Mar 2016

Rebalancing Act: China’s Fiscal Reform Challenge

This policy brief examines China’s inter-connected economic challenges of structural and fiscal reform, arguing that promotion of domestic consumption away from fixed-asset investment could further ex...

by | On 12 Mar 2016

Analyzing the Water Footprint of Indian Dairy Industry

Water footprint is a multidimensional indicator, showing water consumption volumes by source and by type of pollution; all components of a total water footprint are specified geographically and tempor...

by Zareena Begum Irfan | On 11 Mar 2016

Human Rights in North Korea: Pressure and Engagement

Over a year since its report was published, what are the implications and limitations of the UN Commission of Inquiry’s investigation into human rights violations in North Korea, and what is the best...

by | On 10 Mar 2016

Effect of Macroeconomic News Releases on Bond Yields in India China and Japan

This paper studies the effect of domestic macroeconomic news releases on the change in the bond yields of India, China and Japan. We apply event study method to observe whether the large set of new in...

by Sreejata Banerjee | On 10 Mar 2016

Myanmar’s Fragile Ceasefire

Resolving Myanmar’s protracted civil war is the country’s defining challenge. With declarations of support signed for a National Ceasefire Agreement, there is much optimism that Myanmar is finally on...

by | On 10 Mar 2016

Mitigating Militancy in Northwest Pakistan

Nearly three months on from the launch of Operation Zarb e Azb by Pakistan’s armed forces, this policy brief explores the problem of militancy in North Waziristan in northwest Pakistan. The author arg...

by | On 10 Mar 2016

Anchoring Indo-Japanese Maritime Relations

Ensuring security of energy supplies and safeguarding sea lines of communication are underpinning increasing maritime ties between the net-energy importers of India and Japan. At the same time, argues...

by | On 10 Mar 2016

Park’s “Trustpolitik” Challenge

Half-way into her presidential term, how has South Korean President Park Geun-hye’s “trustpolitik” fared in regard to assuaging tensions and dispelling mistrust vis-à-vis North Korea? Sangsoo Lee and...

by | On 10 Mar 2016

Does Corporate Governance Matter in Determinants and Use of Cash: Evidence from India

Our study investigates the determinants and use of cash holdings by Indian companies. Using a large sample of manufacturing firms that are publicly traded on Bombay Stock exchange for the period of 19...

by Ekta Selarka | On 10 Mar 2016

Transboundary Pollution as an Issue in Northeast Asian Regional Politics

The paper investigates the political aspects of the coorperation between China, South Korea and Japan to address transboundary pollution in Northeast Asia. Investigating the motivations, modalities an...

by Reinhard Drifte | On 09 Mar 2016

Producing a Rationale for Dowry? Gender in the Negotiation of Exchange at Marriage in Kerala, South India

The allocation of scarce budgetary resources away from ‘alternative’ channels of social security underscores interlocking concerns: a) the financial drain that marriages of girls pose to families and...

by Praveena Kodoth | On 09 Mar 2016

The Asian Infrastructure Investment Bank: What Can It Learn From, and Perhaps Teach To, the Multilateral Development Banks?

A striking phenomenon of recent global economic change is the emergence of new development actors, with alternative development experiences and development financing capacity. These actors are now cre...

by Stephany Griffith-Jones | On 08 Mar 2016

Shortage of H1N1 Vaccines; Natural Disasters and Infectious Diseases in Asia

According to the World Health Organization (WHO), nearly 5,000 lives have been claimed by the novel influenza virus (H1N1). The US has now declared H1N1 as a national emergency. With the start of the...

by S. Rajaratnam International Studies | On 05 Mar 2016

Fighting Corruption: A Test Case for Indonesia ... and Southeast Asia

Recent anti-corruption efforts by Indonesia have once again brought attention to the longstanding issue of corruption. Indonesia established the Corruption Eradication Commission or the KomisiPemberan...

by S. Rajaratnam International Studies | On 05 Mar 2016

Cancún and Climate Security: New Approaches, Mixed Results

As with previous annual meetings of the United Nations Framework Convention on Climate Change (UNFCCC), outcomes of the recently concluded 16th Conference of the Parties (COP16) have implications for...

by J. Ewing | On 03 Mar 2016

Australian High Court Rules Refugee Swap with Malaysia Unlawful

The controversy surrounding the Australia¬Malaysia refugee swap agreement that would have seen 800 asylum seekers sent to Malaysia in exchange for 4,000 processed refugees took a decisive turn on 31...

by S. Rajaratnam International Studies | On 02 Mar 2016

GNH WF Method And Optimization Of GNH Resources

Two methods to calculate Gross National Happiness (GNH) are described.

by | On 02 Mar 2016

Challenges and Developments in the Financial Systems of the Southeast Asian Economies

This paper discusses the economies and financial systems of Southeast Asia (SEA) and focuses on challenges and developments in the region. Despite the diversity of SEA economies and some important exc...

by Toshiyuki Shimada | On 29 Feb 2016

Tax Reforms in the Presence of Informality in Developing Countries: Incentives to Cheat in Mexico

In this paper we examine incentives to cheat in the Mexican tax system and argue that these are affected by interactions between taxes. We use variation in tax status between Mexican firms and variati...

by Ehtisham Ahmad | On 29 Feb 2016

Adverse Impacts Of Climate Change On Development Of Bhutan: Integrating Adaption Into Policies And Activities

From the existing development plans and vulnerability assessment report it is found that adverse effects of climate change including variability and natural disaster has a significant implication on t...

by | On 29 Feb 2016

Information for Climate Change Adaptation: Lessons and Needs in South Asia

This paper serves as background for a South Asian regional workshop that will bring together adaptation information users and producers to inform likely new investments in the information base for cli...

by Ayesha Dinshaw | On 29 Feb 2016

Price Discovery and Volatility on NSE Futures Market

This paper studies price discovery and volatility in the context of introduction of Nifty futures at the National Stock Exchange (NSE) in June 2000. Cointegration and Generalised Auto Regressive Cond...

by M. T. Raju | On 28 Feb 2016

Corporate Debt Market in India: Key Issues and Some Policy Recommendations

This paper presents an overview of the corporate debt market in India. A study of the structure and the status of the corporate debt market along with the current policies initiated by Securities and...

by M. T. Raju | On 28 Feb 2016

Perspectives for Climate Diplomacy in Southeast Asia

Southeast Asia is a region highly vulnerable to near and long-term climatic changes. In order to jointly address emerging climate risks and to complement multilateral negotiations through enhanced reg...

by S. Rajaratnam International Studies | On 27 Feb 2016

The Near-Eastern Roots of the Neolithic in South Asia

The Fertile Crescent in the Near East is one of the independent origins of the Neolithic, the source from which farming and pottery-making spread across Europe from 9,000 to 6,000 years ago at an aver...

by Kavita Gangal | On 27 Feb 2016

Divergence and Convergence of Firm-level Best Practices: the Case of Bajaj and Hero-Honda in India’s Two-wheeler Industry

Literature in economic development shows how countries diverge and converge in economic growth owing to technological change and capital accumulation. This paper examines micro level issues of competi...

by Murali Patibandla | On 27 Feb 2016

Money, Output and Prices in India

The dynamics of the monetary system is undergoing significant changes in India. The entire concept and flow of money; narrow, broad or base, is being influenced by measures related to financial inclus...

by Charan Singh | On 27 Feb 2016

Gossip and the Efficiency of Interactions

Human communication in organizations often involves a large amount of gossiping about others. Here we study in an experiment whether gossip affects the efficiency of human interactions. We let subject...

by | On 26 Feb 2016

Accra Conference on Aid Effectiveness Perspectives from Bangladesh

The Centre for Policy Dialogue (CPD), established in 1993, is a civil society initiative to promote an ongoing dialogue between the principal partners in the decision-making and implementing process....

by Dialogue Centre for Policy | On 25 Feb 2016

ASEAN Petroleum Security Agreement: Sealed or Leaking?

The ASEAN Petroleum Security Agreement signed recently in Thailand marks a milestone for ensuring regional energy security by including a provision for voluntary oil stockpiles. However, mandatory, as...

by | On 25 Feb 2016

Prospects of Wheat and Sugar Trade between India and Pakistan: A Simple Welfare Analysis

Due to a long history of strained political relations between India and Pakistan, trade possibilities between the two neighbouring countries have rarely been studied [Nabi and Nasim (2001), Mukherji (...

by Abid Burki | On 24 Feb 2016

Bangladesh Apparels Export to the US Market: An Examination of Her Competitiveness vis-à-vis China

The Centre for Policy Dialogue (CPD), established in 1993, is a civil society initiative to promote an ongoing dialogue between the principal partners in the decision-making and implementing process....

by Mustafizur Rahman | On 24 Feb 2016

Towards Comprehensive Economic Co-operation between India and Central Asian Republics

Despite some recovery in recent years, Central Asian Republics (CARs) remain in difficult economic situation and they present a serious challenge to Asia. It is in the mutual interest of both CARs and...

by Ramgopal Agarwala | On 24 Feb 2016

The Hong Kong Declaration and Agriculture: Implications for Bangladesh

The Centre for Policy Dialogue (CPD), established in 1993, is a civil society initiative to promote an ongoing dialogue between the principal partners in the decision-making and implementing process....

by Uttam Kumar Deb | On 24 Feb 2016

Strategies for Intellectual Property and Preventing Technology Leakage in China: A Comparison of Strategies Used in Japan, America, and Europe

Japanese corporations and American and European corporations take different approaches when it comes to business in China in general: (i) American corporations are concentrated in the music, motion pi...

by Yoshio Iteya | On 24 Feb 2016

Impact of Management Practices on Employee Effectiveness in South Asia

South Asian organizations in countries like Bangladesh, India, Pakistan, and Sri Lanka are trying to professionalize management practices in recent years. Inspite of such efforts, employees indiscipli...

by Zafar Qureshi | On 24 Feb 2016

Oiling the Wheels of Foreign Policy? Energy Security and China’s International Relations

This paper offers a review of a broad set of issues that are recurrent in international discussions about interconnectedness of energy and security in China’s international relations. The primary purp...

by Zha Daojiong | On 24 Feb 2016

The Puzzle of Small Farming in Japan

Japan’s small farming represents a puzzle. Currently nearly three-quarters of farmland is operated by farmers whose farm size is well under optimal size. Being too small is the main reason for the hig...

by Yoshihisa Godo | On 24 Feb 2016

Global Analysis of an Expectations Augmented Evolutionary Dynamics

We consider a deterministic evolutionary model where players form expectations about future play. Players are not fully rational and have expectations that change over time in response to current payo...

by Massimiliano Landi | On 24 Feb 2016

Financial Sector Reform: Longer-Run Policy Responses to the Asian Crisis

The Asian financial crisis of 1997 involved significant economic and social costs for the affected economies, but also highlighted fundamental weaknesses in the structure and operations of their finan...

by Kevin Davis | On 24 Feb 2016

INDIA: E-Readiness Assessment Report 2005 - For States/Union Territories

For the first time, output and employment multipliers of the key states in India for the software, hardware and ICT composite segments have been calculated to assess the catalytic effect of ICT on eco...

by Research National Council of Applied Economic | On 24 Feb 2016

Industrial Growth And Environmental Industrial Growth And Environmental Industrial Growth And Environmental Degradation: Degradation: Degradation: A Case Study Of Tiruppur Textile Cluster A Case Study Of Tiruppur Textile Cluster A Case Study Of Tiruppur Textile Cluster

The rapid economic growth achieved after globalization by most of the developing countries, has imposed considerable social costs and has become a major threat to sustainable development. However it i...

by Prakash Nelliyat | On 23 Feb 2016

Un-balanced Economic Growth

Since the elasticity of substitution between capital and labor is not always one, and since technical progress is not always Harrod-neutral, it is desirable to have an endogenous growth model that adm...

by Hing-Man Leung | On 23 Feb 2016

Post-Crisis Investment Performance Of ASEAN Countries: Impact Of FDI

The paper studies the post-Asian crisis investment performance of crisis affected countries in ASEAN. The empirical evidence clearly indicates that the ASEAN and East Asian countries are emerging from...

by Aekapol Chongvilaivan | On 23 Feb 2016

From Crisis to Recovery in Asia: Strategies, Achievements, and Lessons

This paper reviews and highlights lessons from the stabilisation and reform programme that Thailand, Malaysia and Korea implemented in response to the 1997 crisis. The three countries’ rapid recovery...

by Kanit Sangsubhan | On 23 Feb 2016

International Monetary Reform: A Critical Appraisal of Some Proposals

This paper reviews some of the current debates on the reform of the international monetary system. Despite its deficiencies, the United States (US) dollar will remain the dominant currency and Special...

by Yung Chul Park | On 22 Feb 2016

Deepening Association of Southeast Asian Nations’ Financial Markets

This paper discusses the financial landscape of the Association of Southeast Asian Nations (ASEAN), a region engaged in building an economic community (a “single market and production base”) by 2015....

by Choong Lee | On 21 Feb 2016

Impact of Changes in the Global Financial Regulatory Landscape on Asian Emerging Markets

This paper discusses the relevance of Basel III to Asian emerging markets. It reviews some of the proposed regulations of Basel III in order to evaluate their likely implications for, and their abilit...

by Tarisa Watanagase | On 21 Feb 2016

Regional Financial Arrangements and the International Monetary Fund

The rise of regional monetary arrangements poses a challenge for the International Monetary Fund (IMF)'s global surveillance efforts. This paper reviews how the IMF has responded to earlier regional i...

by Barry Eichengreen | On 21 Feb 2016

Financial Safety Nets in Asia: Genesis, Evolution, Adequacy, and Way Forward

Financial safety nets in Asia have come a long way since the Asian Financial Crisis (AFC) of 1997–98. Not wanting to rely solely on the International Monetary Fund (IMF) again, the Chiang Mai Initiati...

by Hal Hill | On 21 Feb 2016

Creating an Association of Southeast Asian Nations Payment System: Policy and Regulatory Issues

The Association of Southeast Asian Nations (ASEAN) is expected to benefit from the significant growth in the Asia-Pacific payments market. Growth in economic activity would increase the size, scale, a...

by Tanai Khiaonarong | On 21 Feb 2016

Asian Monetary Integration: A Japanese Perspective

This paper discusses Japan’s strategy for Asian monetary integration. It argues that Japan faces three major policy challenges when promoting intraregional exchange rate stability. First, there must b...

by Masahiro Kawai | On 21 Feb 2016

Savings and Investment Estimates in Bangladesh: Some Issues and Perspectives in the Context of an Open Economy

This paper examines the conceptual issues surrounding the estimation of savings and investment in Bangladesh and explains why there exist perceptible differences between the estimates of savings and i...

by Mustafa K. Mujeri | On 20 Feb 2016

Incremental Housing – The New Site & Services

Informal builders provide the bulk of affordable housing and define large areas of our cities. Originally created for those long considered as poor and unable to house themselves, over time the result...

by Dr. Reinhard Goethert | On 19 Feb 2016

The Asian Infrastructure Investment Bank: Multilateralism On The Silk Road

China’s first attempt to establish a multilateral financial institution was met with some suspicion and caution in the west. According to one interpretation, China is frustrated with the United States...

by Mike Callaghan | On 19 Feb 2016

Budget 2016-17: Industry Expectations

The Government has to not only focus on the Indian Economic scenario but also at the World Economic scenario. The Budget will have to focus on both the long term and short term development plans and h...

by Kiron Nanda | On 18 Feb 2016

Volatility Spillover between the Stock Market and the Foreign Market in Pakistan

The paper examines the volatility spillover between the stock market and the foreign exchange market in Pakistan. For the longrun relationship we use the Engle Granger two-step procedure and the volat...

by Abdul Qayyum | On 17 Feb 2016

Awake the Sleeper Within: Releasing the Energy of Stifled Domestic Commerce

Policy in Pakistan has been fairly path-dependant, placing a higher weight on export promotion and domestic industrialisation development than on domestic commerce. Yet domestic commerce is growing ra...

by Nadeem Ul Haque | On 17 Feb 2016

A Fresh Assessment of the Underground Economy and Tax Evasion in Pakistan: Causes, Consequences, and Linkages with the Formal Economy

Rise in the underground economy creates problems for the policy-makers to formulate economic policies, especially the monetary and fiscal policies. It is found that if there was no tax evasion, budget...

by M. Ali Kemal | On 17 Feb 2016

The Relationship between Corporate Governance Indicators and Firm Value: A Case Study of Karachi Stock Exchange

It is investigated whether differences in quality of firm-level corporate governance can explain the firm-level performance in a cross-section of companies listed at Karachi Stock Exchange. Therefore,...

by Attiya Y. Javid | On 17 Feb 2016

Smart Content For Smart People : Best Practices of Sri Lankan e-Content and Applications of 2014

This book is a review of 49 white papers which were selected through e-Swabhimani 2014, Best e-Content and Application award of Sri Lanka. White papers are normally used in two main spheres, governm...

by org eldis. | On 17 Feb 2016

Achieving Skill Mobility in the ASEAN Economic Community Challenges, Opportunities, and Policy Implications

Despite clear aspirations by the Association of Southeast Asian Nations (ASEAN) to create an effective framework to facilitate movements among skilled professionals within the ASEAN Economic Community...

by Demetrios G. Papademetriou | On 16 Feb 2016

Exchange Market Pressure and Monetary Policy: Evidence from Pakistan

The study employs Girton and Roper (1977) measure of exchange market pressure—sum of exchange rate depreciation and foreign reserves outflow, to examine the interaction between exchange market pressur...

by M. Idrees Khawaja | On 16 Feb 2016

Economic Stability and Choice of Exchange Rate Regimes

The purpose of this paper is to emphasize the importance of Europe’s structural problems and governance as the cause of the current euro area crisis. The euro may have led to bubbles, but member econo...

by Sahoko Kaji | On 16 Feb 2016

The Trans-Pacific Partnership Agreement: Looking Ahead to the Next Steps

Pressure has been building for the conclusion of the 12-country Trans-Pacific Partnership (TPP) negotiations. Getting the deal done is important, but the TPP is not just another free trade agreement (...

by Deborah Elms | On 16 Feb 2016

Global Implications of the Renminbi’s Ascendance

This paper evaluates the prospects for the renminbi’s role as an international currency and the implications for global financial markets. Although the People’s Republic of China (PRC) does not have e...

by Eswar Prasad | On 16 Feb 2016

Use of National Currencies for Trade Settlement in East Asia: A Proposal

This paper develops a multilateral currency system where national currencies are used for trade settlement in East Asia, comprising the Association of Southeast Asian Nations (ASEAN) member countries,...

by ll Houng Lee | On 16 Feb 2016

From Global Factory to Global Mall: East Asia’s Changing Trade Composition

This paper studies how East Asia’s trade composition and orientation have changed over the past decade and analyzes the implications for the region and beyond. Over the last 2 decades we have witnesse...

by Matthias Helble | On 16 Feb 2016

Effectiveness of the Easing of Monetary Policy in the Japanese Economy, Incorporating Energy Prices

Japan has reached the limits of conventional macroeconomic policy. In order to overcome deflation and achieve sustainable economic growth, the Bank of Japan (BOJ) recently set an inflation target of 2...

by Naoyuki Yoshino | On 16 Feb 2016

Myanmar: The Key Link between South Asia and Southeast Asia

This paper examines the road and railway links in Myanmar connecting northeast India on the one side with the rest of Southeast Asia on the other. It also discusses the importance of new deep-sea port...

by Hector Florento | On 16 Feb 2016

The Taylor Rule and the Macroeconomic Performance in Pakistan

A widely agreed proposition in modern economics is that policy rules have greater advantage over discretion in improving economic performance. Simple monetary policy instrument rules are feasible opti...

by Wasim Shahid Malik | On 15 Feb 2016

Monetary Policy Objectives in Pakistan: An Empirical Investigation

The Taylor rule (1993) focuses only on two objectives: output and inflation. In practice, the central bank’s loss function (especially in developing countries) contains objectives other than these two...

by Wasim Shahid Malik | On 15 Feb 2016

What Determines Private Investment? The Case of Pakistan

This study is an attempt to analyse the determinants of private investment in Pakistan over the period 1972-2005. The ARDL co-integration approach is employed to check the existence of a long-run rela...

by Farooq Pasha | On 15 Feb 2016

Stock Market Reaction to Catastrophic Shock: Evidence from Listed Pakistani Firms

This study examines the effect of the earthquake of October 8, 2005 on the price behaviour and activities of Karachi Stock Exchange (KSE). Sixty firms are selected from those listed on Karachi Stock E...

by Attiya Y. Javid | On 15 Feb 2016

Link between the financial inclusion and Economic Growth: Unconventional Monetary Policy in Bangladesh

Like other developing countries, Bangladesh initiated financial sector reform program during 1990’s. The main objectives of the financial sector reform programs were: i) Gradual B 3 | P a g e eliminat...

by Sayera Younus | On 15 Feb 2016

Notes on the Monetary Policy Strategy of the Bangladesh Bank

This document is designed to present a brief but comprehensive view of the real and monetary developments during the immediate past quarters and project the expected developments in the immediate futu...

by Bangladesh Bank BB | On 15 Feb 2016

Monetary Transmission through Bank Portfolio in Bangladesh

This paper examines whether monetary policy transmits through bank assets or liabilities or both. This is an important policy issue since in order to know the effectiveness of monetary policy it is ne...

by Sayera Younus | On 15 Feb 2016

Towards a Measure of Core Inflation in Bangladesh: Conceptual Issues

Identifying core inflation has become a very important issue for the Central Banks of the world for last few years. It has also become a practice to monitor the core inflation along side the headline...

by Md. Shahiduzzaman | On 15 Feb 2016

Interest Rate Spread in Bangladesh: An Analytical Review

Lower spread is a vital indicator of the efficiency and competition in the financial system and conducive to higher economic growth of a country via investment spending. In Bangladesh, the spread in t...

by Shamim Ahmed | On 15 Feb 2016

Recent Experiences in the Foreign Exchange and Money Markets

This paper attempts to analyze the underlying causes and impact of the recent developments in the foreign exchange and money markets.

by Md. Habibur Rahman | On 15 Feb 2016

Inflation in Bangladesh: Supply Side Perspectives

This policy note is an exploratory attempt to verify the popular argument that cost side factors are no less contributory than demand side factors in stimulating inflation in the Bangladesh economy. T...

by Md. Alauddin Majumder | On 15 Feb 2016

Monetary Policy and Capital Market Development in Bangladesh

Bangladesh Bank (BB) adjusted its monetary policy stance during 2005 in order to contain inflationary pressures and facilitate stability in the foreign exchange market. At the end of 2005, interest ra...

by Shubhasish Barua | On 15 Feb 2016

Measures of Monetary Policy Stance: The Case of Pakistan

In this paper two measures of the monetary policy stance are constructed. The stance of monetary policy, regarded as a quantitative measure of whether the policy is too tight, neutral, or too loose re...

by Farooq Pasha | On 14 Feb 2016

Pakistan's Relations with Afghanistan and Implications for Regional Politics

This essay, published originally by the National Bureau of Asian Research, discusses the long-term and current relationship between Pakistan and Afghanistan, the intertwined militancy in the two count...

by Vanda Felbab-Brown | On 14 Feb 2016

Monetary Policy Transparency in Pakistan: An Independent Analysis

This paper analyses monetary policy transparency of the central bank (SBP) using the Eijffinger and Geraats (2006) index. The results show that the SBP scores 4.5 out of 15, which is lower than any of...

by Wasim Shahid Malik | On 14 Feb 2016

Bilateral J-Curves between Pakistan and Her Trading Partners

Earlier studies that investigated the J-Curve phenomenon for Pakistan employed aggregate trade data. These studies suffered from the “aggregation bias” problem. In order to overcome this constraint, t...

by Zehra Aftab | On 14 Feb 2016

Growth Diagnostics in Pakistan

Following the Hausmann, et al. (2005) methodology, an attempt is done to identify the constraints to growth in Pakistan. It is argued that governance failure and institutional shortcomings are the h...

by Abdul Qayyum | On 14 Feb 2016

The Conditional Capital Asset Pricing Model:- Evidence from Karachi Stock Exchange

This is an attempt to empirically investigate the risk and return relationship of individual stocks traded at Karachi Stock Exchange (KSE), the main equity market in Pakistan. The analysis is based on...

by Attiya Y. Javid | On 14 Feb 2016

Test of Multi-moment Capital Asset Pricing Model: Evidence from Karachi Stock Exchange

This study examines the Capital Asset Pricing Model of Sharpe (1964) Lintner (1965) and Black (1972) as the benchmark model in the asset pricing theory. The empirical findings indicate that the Sharpe...

by Attiya Y. Javid | On 14 Feb 2016

Public Policies For Facilitating Medical Tourism Industry In Asia

The paper attempts to analyze the role of public policy adjustments in facilitating the medical tourism sector in Asian countries in response to recent global economic events. While falling incomes ma...

by Vinay Singh | On 13 Feb 2016

Dietary Diversity in the Everyday Lives of Children in Andhra Pradesh and Telangana, India

This paper investigates young people’s and their caregivers’ experiences of food insecurity, diet and eating practices in Andhra Pradesh and Telangana. It also provides original child-focused evidence...

by Elisabetta Aurino | On 13 Feb 2016

Corruption and Public Procurement

Public procurement impacts people’s lives and accounts for a big share government budgets. The large monetary transactions involved make the risk of abuse high and the need for anti-corruption safegua...

by Transparency International TI | On 12 Feb 2016

Intellectual Property and Computer Software, a Battle of Competing Use and Access Visions for Countries of the South

This report was commissioned to examine a range of economic, political and developmental issues connected with the use and expansion of computer software in countries of the South. In particular, it e...

by | On 10 Feb 2016

Bonus Payments in the Indian Formal Sector, 2008-2014

Bonus continues to be an important component of the pay mix of employees. This practice is followed by most of the organizations to keep employees committed, motivated and dedicated towards their orga...

by | On 10 Feb 2016

Self-Identification of Occupation in Web Surveys - Requirements for Search Trees and Look-Up Tables

Can self-identification of occupation be applied in web surveys by using a look-up table with coded occupational titles, in contrast to other survey modes where an open format question with office-cod...

by | On 10 Feb 2016

The State of the World's Plant Genetic Resources for Food and Agriculture

The Report on the State of the World’s Plant Genetic Resources for Food and Agriculture provides a comprehensive overview on the status and trends of conservation and use of plant genetic resources at...

by Food and Agricultural Organization [FAO] | On 08 Feb 2016

Consumption Smoothing in the Demand for Health Care

We investigate how, in temporary economic hardship, agents change their consumption of health services, and how this depends on whether the service is universally free-of-charge visits to GP’s or priv...

by Nicolai Kristensen | On 07 Feb 2016

Market Design for Altruistic Supply: Evidence from the Lab

Volunteer supply is widespread, yet without a price inefficiencies occur due to suppliers’ inability to coordinate with each other and with demand. For these contexts, we propose a market clearinghous...

by Robert Slonim | On 07 Feb 2016

Temporary and Permanent Migrant Selection: Theory and Evidence of Ability-Search Cost Dynamics

The migrant selection literature concentrates primarily on spatial patterns. This paper illustrates the implications of migration duration for patterns of selection by integrating two workhorses of th...

by Joyce Chen | On 07 Feb 2016

Does Joining the EU Make You Happy? Evidence from Bulgaria and Romania

We examine the effect of joining the European Union on individual life satisfaction in Bulgaria and Romania in the context of the 2007 EU enlargement. Although EU membership is among the most importan...

by Milena Nikolova | On 07 Feb 2016

Capital Inflows, Inflation and Exchange Rate Volatility: An Investigation for Linear and Nonlinear Causal Linkages

In this study, an investigation of the effects of capital inflows on domestic price level, monetary expansion and exchange rate volatility. To proceed with this, linear and nonlinear cointegration and...

by Abdul Rashid | On 06 Feb 2016

Price Setting Behaviour of Pakistani Firms: Evidence from Four Industrial Cities of Punjab

Since the introduction of rational expectations in the literature, most of the research focus in the area of macroeconomics has been investigating micro foundations of macroeconomic theory and transmi...

by Wasim Shahid Malik | On 06 Feb 2016

The Contemporaneous Correlation of Structural Shocks and Inflation— Output Variability in Pakistan

Monetary policy has changed in a number of ways during the last two decades. Along with the other characteristics, modern monetary policy is forward-looking, and the central banks respond contemporane...

by Muhammad Nasir | On 06 Feb 2016

Global Innovation Networks and their Implications for the Multilateral Trading System

This think piece examines the emergence of global innovations networks and their implications for multilateral trade rules. After pointing out, that the WTO agreements were reached with little direct...

by | On 05 Feb 2016

Institutional Quality, Conflict and Aid Dependency

This study attempts to explore the impact of foreign aid on the quality of governance and how conflicts, whether internal or external affect the overall situation. Conflicts affect governance directly...

by Unbreen Qayyum | On 03 Feb 2016

Governance and the Effectiveness of Foreign Capital

This study empirically investigates the impact of foreign capital and governance on the economic growth by employing country level data from 1984 to 2010 for Asian developing countries. Governance; fo...

by Unbreen Qayyum | On 03 Feb 2016

Market Imperfections and Dividend Policy Decisions ofManufacturing Sector of Pakistan

Dividend policy is an important issue of corporate finance and the present study examines the effect of market imperfections such as asymmetric information, agency costs and transaction cost of issuin...

by Darakhshan Younis | On 03 Feb 2016

Liquidity Benefits from Underpricing: Evidence from Initial Public Offerings Listed at Karachi Stock Exchange

This study explains the underpricing phenomenon through the relationship of underpricing (initial returns), ownership structure and aftermarket liquidity empirically by using cross-sectional data of 5...

by Malik Muhammad Shehr Yar | On 03 Feb 2016

Choice of Monetary Policy Instrument under Targeting Regimes in a Simple Stochastic Macro Model

This paper analyzes the relative performance of inflation and price-level targeting regimes in an AS-IS-LM framework under alternative policy instruments used by the central bank.

by Haider Ali | On 03 Feb 2016

Dynamic Relationship and Volatility Spillover between the Stock Market and the Foreign Exchange Market in Pakistan: Evidence from VAR-EGARCH Modelling

The paper examines the dynamic relationship and volatility spillovers between the stock market and the foreign exchange market in Pakistan using weekly data from 02 July, 1997 to 04 July 2012. Johanse...

by Abdul Qayyum | On 03 Feb 2016

The Global Financial Crisis and Investors' Behaviour: Evidence from the Karachi Stock Exchange

The present study empirically examines the short term under and overreaction effect in the Karachi Stock Exchange, Pakistan, in the context of the 2008 Global Financial Crisis considering the period f...

by Asiya Sohail | On 03 Feb 2016

Financial Flows, External Capital Structure, Institutions and Economic Growth in Asian Developing Economies

Present study is conducted to measure the impact of financial integration on economic growth in Asian developing economies using panel data of twelve Asian countries from 1984-2012. In first part of a...

by Madiha Bashir | On 03 Feb 2016

An Analysis of Accrual Anomaly in Case of Karachi Stock Exchange

This study investigates the existence of accrual anomaly by using a sample of 340 non-financial firms listed at Karachi Stock Exchange. The objective of the study is to examine the persistence of th...

by Jawad Mohammad | On 03 Feb 2016

The EU And Asia In The United Nations Security Council

This contribution addresses the political and legal aspects of European and Asian membership and practice in the UNSC. First, it highlights the difficulties of the European Union (EU) becoming a fully...

by Jan Wouters | On 03 Feb 2016

Central Asia And The EU’S Drive Towards Energy Diversification

In recent years, Central Asia has increasingly come under the focus of the European Union (EU). This development occurred not least due to a series of interruptions in the supply of Russian natural ga...

by Sijbren Jong | On 03 Feb 2016

Employment Strategy and Equitable Growth: A Social Capital Perspective for KPK

Although labour force participation in Pakistan has improved from 50.33 percent in 2006-07 to 57.24 percent in 2010-111 as well as employment has increased from 47.65 million to 53.84 million, however...

by Syed Akther Shah | On 02 Feb 2016

Pakistan: The Impact of Economic Liberalisation on Poverty

The reform program that Pakistan gradually implemented during the 1980s and the early 1990s dismantled many of the components of the ISI strategy.1 The extent of dependence on quantitative import cont...

by Zafar Mahmood | On 02 Feb 2016

Towards a Framework for Achieving Food Security in the Mountains of Pakistan

The agriculture sector in Pakistan sustains the livelihoods of 45 per cent of the national population. Both the direct and indirect contributions of the agriculture sector to overall growth and wellbe...

by Golam Rasul | On 02 Feb 2016

The 2014 Arab Opinion Index

The 2014 Arab Opinion Index is the third annual survey of Arab public opinion carried out by the Arab Center for Research and Policy Studies. In 2011, the survey was carried out in 12 Arab countries,...

by Arab Center for Policy Studies | On 02 Feb 2016

Social Insurance with Competitive Insurance Markets and Risk Misperception

This paper considers an economy where individuals differ in productivity and in risk. Rochet (1991) has shown that when private insurance markets offer full coverage at fair rates, social insurance is...

by | On 02 Feb 2016

Employment Exchanges

Data about employment exchanges, how they function and suggestions for improvement are given here.

by Aarti Salve | On 01 Feb 2016

Multidimensional Climate Threats Require New Approaches and More Resources for Adaptation Challenge

Long-term planning and investment are essential to prevent increasing vulnerability to climate change in developing countries. Tackling only the impacts will fail: fragmented action are only partial s...

by United Nations Department of Economic and Social Affairs | On 31 Jan 2016

Till Debt do us Part: the Urgency of a Sovereign Debt Workout Mechanism

The danger to global economic recovery posed by the European debt turmoil throws a spotlight on a key missing international institution critical to global finance a sovereign debt resolution mechanism...

by United Nations Department of Economic and Social Affairs | On 31 Jan 2016

The Potential of Financial Transaction Taxes for Development Financing

Difficulties in raising sufficient resources to finance internationally agreed development goals and global objectives, such as combating climate change, have led the quest for new and innovative sour...

by United Nations Department of Economic and Social Affairs | On 31 Jan 2016

India’s Role in East Asia: Lessons from Cultural and Historical Linkages

India’s presence in the East Asia Summit signals not only a victory for New Delhi’s “Look East” policy but also an implicit “Look West” policy on the part of India’s neighbors to the east. This conver...

by Ellen L. Frost | On 31 Jan 2016

Savings Behaviour In South Asia

Savings behaviour is important because of the close relation between savings and growth. Further, the direction of causality between savings and growth is of critical importance for development policy...

by Ranjan Kumar Dash | On 30 Jan 2016

Integrating Urban Agriculture and Forestry Into Climate Change Action Plans: Lessons From Western Province, Sri Lanka And Rosario, Argentina

Climate change adds to the existing challenges faced by cities. Cities – as net consumers rather than producers of food – are already highly vulnerable to the disruption of critical food and other sup...

by Marielle Dubbeling | On 30 Jan 2016

Improving the International Governance of Food Security and Trade

This paper critically examines the recent global initiatives to improve various elements of the international governance of food security and the institutional context of policymaking on trade and foo...

by | On 30 Jan 2016

Trade Policy Responses to Food Price Volatility in Poor Net Food-Importing Countries

In recent years, high and volatile prices have contributed to acute shortages of basic foodstuffs in poor, net food-importing countries. This paper examines the new challenges these countries face, an...

by | On 30 Jan 2016

Does Governance Matter for Enhancing Trade? Empirical Evidence from Asia

The primary objective of this paper is to find whether or not the governance and institutions matter for enhancing Asia’s trade. In this study, we have performed a comprehensive empirical analysis of...

by Prabir De | On 30 Jan 2016

Impact of Debt on Aggregate Investment and Productivity in Developing Asian Countries

This study attempts to investigate the empirical relationship between debt and productivity and debt and investment for the Developing Asian Countries over the period of 1984-2007. The study uses two...

by Hasan Shahzad | On 30 Jan 2016

Monetary Paradoxes of Baby-Sitting Cooperatives

Many authors have described and modelled Keynesian effects in a Babysitting Cooperative (BSC), which has the underlying structure of a single good barter economy. A simple model of the BSC economy is...

by Asad Zaman | On 30 Jan 2016

An Analysis of Pegged Exchange Rate Between Bhutan and India

This paper analyzes the applicability of the theory of optimum currency area to the pegged exchange rate regime between Bhutan and India. Most of the optimum currency criteria hold true for Bhutan and...

by Karma Galey | On 29 Jan 2016

Hard Law and ‘Soft Law’: Options for Fostering International Cooperation

Substantial literature has emerged in the past two decades on the meaning of “soft law”, its purposes, and its consequences for effective international cooperation. This paper argues that the distinct...

by | On 28 Jan 2016

Survey of ICTs for Education in India and South Asia, Extended Summary

The Survey on Information and Communication Technology (ICT) for Education in India and South Asia was commissioned by infoDev to be undertaken by PricewaterhouseCoopers, India. The Survey is a third...

by The Survey on Information and Communication Techno ICT | On 28 Jan 2016

Enhancing Coherence and Inclusiveness in the Global Trading System in the Era of Regionalism

Over the past two decades, regional trade agreements (RTAs) have proliferated alongside the WTO system, involving a wide variety of agreements. In the absence of significant progress on the multilater...

by | On 28 Jan 2016

Air Pollution Reduction and Control in South Asia

In order to understand the importance of reducing air pollution and its likely trans-boundary effects, it is important to first review the socioeconomic situation of the South Asian member states. Sou...

by Mahmood Khwaja | On 28 Jan 2016

A Legally Binding Agreement (LBA) - Growing Need for Air Pollution Reduction and Control in South Asia

With increasing urbanization and economic growth, air pollution is becoming an urgent concern in South Asian countries. The study upon which this paper is based has been conducted at SDPI, to look int...

by Mahmood Khwaja | On 28 Jan 2016

The Functioning of the WTO: Options for Reform and Enhanced Performance

The multilateral rules-based trading system has been crucial in helping states to cooperate and gradually open up borders to encourage trade and investment for development. It has contributed to tempe...

by | On 28 Jan 2016

Youth Unemployment

This paper looks at recent trends in youth unemployment and joblessness and seeks to clarify some issues related to the nature of the youth labour market ‘problem’. During the recession, the prevalenc...

by Niall O’Higgins | On 28 Jan 2016

Oilseeds and Pulses in Indian Agriculture: A Review of Development Policy and Production Performance

The study finds that a high order of technology and yield gap exists and indicates that there is enormous scope to accelerate the pace of growth in the production of both oilseeds as well as pulses....

by B.L. Kumar | On 28 Jan 2016

Building Human Capital in East Asia: What Others Can Learn

While recognizing that education contributes to economic growth, investments in human capital contributed to high economic growth and also to better income distribution in East Asia; and human capital...

by | On 28 Jan 2016

Does War Empower Women? Evidence from Timor Leste

Conflicts may change the material conditions and the incentives individuals face through death, displacement and other consequences of violence. Being a victim of a war can also profoundly change indi...

by | On 26 Jan 2016

Drinking Water and Sanitation in Rural Madhya Pradesh: Recent Initiatives and Issues

This paper presents a brief account, based primarily on available secondary sources, of the current status of drinking water supply and sanitation in rural Madhya Pradesh. With a discussion on the lop...

by Keshab Das | On 26 Jan 2016

Does Exchange Rate Intervention Trigger Volatility?

This study aims at investigating two important issues concerning the exchange rate intervention policy of the Reserve Bank of India: (1) whether there is any asymmetry in intervention; and (2) whether...

by M. Ramachandran | On 24 Jan 2016

External Shocks

After the global financial crisis, India was exposed to many external shocks from commodity prices and foreign capital flows. Although capital flow fluctuations were largely due to global risk-on risk...

by Ashima Goyal | On 24 Jan 2016

Volatility of Stock Return in the Dhaka Stock Exchange

This note examines the volatility in stock prices in the Dhaka Stock Exchange (DSE) during 2003- 2007. Excessive volatility and fluctuations in stock price fail to provide the correct signal on compan...

by Md. Habibour Rahman | On 23 Jan 2016

Inflation Accounting Across Income Groups: Does Inflation Hurt the Poor More in Bangladesh?

This note provides estimates of the contribution of food prices to inflation in Bangladesh. The results suggest that the current inflation takes a bigger toll on the poor because they spend more of th...

by M. Golam Mortaza | On 23 Jan 2016

Estimating Inflation Rates of Import-Concentrated Commodities

This note provides estimates of inflation rate of import-concentrated commodities and their contribution to overall inflation in Bangladesh. The results suggest that the Bangladesh economy has been ex...

by M. G. Mortaza | On 23 Jan 2016

The SLR as a Monetary Policy Instrument in Bangladesh

The statutory liquidity requirement (SLR), as a monetary policy instrument, has experienced infrequent changes in Bangladesh. Past evidence shows that reduction in SLR produced positive impact on bank...

by Sayera Younus | On 23 Jan 2016

A Quick Analysis of Deposit Interest Rates Offered by Commercial Banks

The main purpose of the survey is to collect data on the extent of the mis-reporting of deposit interest rates, as accurate data is essential for effective financial and monetary policy.

by Md. Ezazul Islam | On 23 Jan 2016

Trans-Pacific Partnership, India and South Asia

The Trans-Pacific Partnership (TPP) will have multiple impacts on India and South Asia, ranging from a short-term effect, such as the loss of preferential access for exports, to the longer-term impact...

by | On 23 Jan 2016

Child Marriage In South Asia

The briefing paper primarily focuses on violations of women’s and girls’ reproductive rights and right to be free from sexual violence arising from child marriage in six South Asian countries—Afghanis...

by Center for Reproductive Rights CRR | On 23 Jan 2016

Better Ask the Parrot

It may be time to look at the market forecasts that pundits had made earlier.

by T.N. Ninan | On 23 Jan 2016

Economic Growth In South Asia: Role Of Infrastructure

The paper examines the output elasticity of infrastructure for four South Asian countries viz., India,Pakistan, Bangladesh and Sri Lanka using Pedroni’s panel cointegration technique for the period 19...

by Ranjan Kumar Dash | On 23 Jan 2016

Prospects for Regional Cooperation on Cross-Border Electricity Trade in South Asia

Energy remains one of the key inputs to socio-economic progress in developing societies. South Asian nations, namely Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lank...

by Anoop Singh | On 23 Jan 2016

Should Bangladesh Monitor Core Inflation for Conducting Monetary Policy?

Over the years, the Bangladesh Bank (BB) has been using changes in consumer price index (CPI) inflation as the operational guide to measuring price stability in Bangladesh. In recent years, it has how...

by Bangladesh Bank | On 23 Jan 2016

Trend and Characteristics of Recent Inflation in Bangladesh

In the backdrop of recent global developments, this note examines some of the characteristics of inflation in Bangladesh including the contribution of major commodity groups to overall inflation in ru...

by Bangladesh Bank | On 23 Jan 2016

Monetary Policy Stance and Recent Movements in Monetary Aggregates: Policy Implications

This note examines recent movements in net domestic asset (NDA) and net foreign asset (NFA) of BB vis-à-vis the proposed monetary program for FY09 and brings out possible policy implications and manag...

by Bangladesh Bank | On 23 Jan 2016

Understanding The Rising Powers' Contribution to the Sustainable Development Goals

Rising powers such as Brazil, India and China have been criticised for being obstructive in the negotiations on the post-2015 development agenda. The start of the United Nations (UN) negotiations saw...

by Institute of Development Studies IDS | On 23 Jan 2016

East Asia in 2015

The future political landscape of Asia-Pacific would largely be decided, arguably, by happenings in the East Asian region. It is so because in East Asia, the interests of three important players of wo...

by Sandip Kumar Mishra | On 23 Jan 2016

India and APEC An Appraisal

This Study surveys the progress that APEC has made towards promoting regional economic cooperation and integration. It examines the desirability of India joining APEC and looks at possible benefits an...

by V. S. Seshadri | On 21 Jan 2016

Access, Equity and Inclusion : Ethical Norms and S&T Policy Outcomes

In our research on science policy and inclusion and ethics in S&T policy we identified that in the Indian context Access, Equity and Inclusion (AEI) can be the norms to assess the policy outcomes and...

by Krishna Ravi Srinivas | On 21 Jan 2016

Emerging Powers in a Changing World

This is the second collective effort from the Center for Euro-Atlantic Studies to address global issues that are largely unfamiliar to the Greek international affairs community. Last year we dealt wit...

by Stamatis Zachariadis | On 21 Jan 2016

Principles and Good Practice for Preserving Data

This guidance aims to assist official data producers (national statistical offices and line ministries) in defining and meeting their digital preservation requirements and obligations. The recommendat...

by Nancy McGovern | On 21 Jan 2016

The European Union's Proposed Carbon Equalisation System: Some Implications for India's Exports

In 2009, the European Union (EU) proposed to use border carbon measures, which could take the form of a direct or indirect “carbon tax”, against imports from its partner countries that were not follow...

by Biswajit Dhar | On 21 Jan 2016

On Migration and the Policy Process

Accepting that virtually any policy can have some impact on the movement of people, one can also recognize that a series of policies exist that have been developed specifically to deal with migration...

by | On 20 Jan 2016

Economic Crises and Migration: Learning From the Past and the Present

Following from the Global Economic Crisis of 2008, the paper comprises four substantive sections. The first offers the briefest of descriptions of the economic crisis. It is followed by a discussion o...

by | On 20 Jan 2016

Zinc Status in South Asian Populations—An Update

This article attempts to highlight the prevalence of zinc deficiency and its health and economic consequences in South Asian developing countries and to shed light on possible approaches to combating...

by S Akhtar | On 20 Jan 2016

Remittances, Migration and Social Development: A Conceptual Review of Literature

This paper reviews the empirical literature on the relationship between remittances and various dimensions of social development in the developing world within a broader conceptual framework of migrat...

by | On 19 Jan 2016

“If we eat well, we can study” Dietary Diversity in the Everyday Lives of Children in Andhra Pradesh and Telangana, India

This paper investigates young people’s and their caregivers’ experiences of food insecurity, diet and eating practices in Andhra Pradesh and Telangana. It also provides original child-focused evidence...

by Elisabetta Aurino | On 19 Jan 2016

Delhi’s Traffic Nightmare: Lessons from Global Practices

Delhi's traffic management is based on a system designed long before motor vehicle ownership in the city had reached its current mammoth size. This system is immensely inadequate to respond to the gro...

by prashant kumar | On 19 Jan 2016

Long-term care protection for older persons: A review of coverage deficits in 46 countries

This paper: (i) examines long-term care (LTC) protection in 46 developing and developed countries covering 80 per cent of the world’s population; (ii) provides (data on LTC coverage for the population...

by Xenia Scheil-Adlung | On 19 Jan 2016

Evolution of Capital Structure in East Asia: Corporate Inertia or Endeavours?

The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countr...

by Sarmistha Pal | On 19 Jan 2016

Does Clientelism Work? A Test Of Guessability In India

Research on clientelism broadly assumes that local political agents, or brokers, possess fine-grained information on voters’ political preferences, and often can directly or indirectly monitor their v...

by Mark Schneider | On 18 Jan 2016

Transfer Behaviour in Migrant Sending Communities

We study how international migration changes the private transfers made between households in the migrant sending communities of developing countries. A priori, it is indeterminate whether migration a...

by | On 15 Jan 2016

Household Survey Data for Research on Well-Being and Behavior in Central Asia

This paper summarizes the micro-level survey evidence from Central Asia generated and analyzed between 1991 and 2012. We provide an exhaustive overview over all accessible individual and household-lev...

by Tilman Brück | On 15 Jan 2016

Transmission of Volatility of Money Market Overnight Repo Rate along the Yield Curve in Pakistan

This paper presents the empirical results of the volatility transmission of money market overnight repo rate along the yield curve in Pakistan. The results indicate that the transmission of volatilit...

by Asif Mahmood | On 11 Jan 2016

India-Myanmar Ties: New Hope, Old Despair

India’s current trade negotiations have three agreements as top priorities. Two of these the India ASEAN services agreement and the bilateral trade and investment agreement with the European Union (EU...

by Laldinkima Sailo | On 09 Jan 2016

New ‘Oil Shock’ – Impact on South Asia

In the 1970s, the oil-producing and exporting countries of the Middle East delivered a shock to the global economic system that had many unexpected consequences. The then-quadrupling of the price of o...

by Shahid Javed Burki | On 09 Jan 2016

South Asia’s Economic Changes and Diaspora Groups

The paper looks at the flow of ideas from the South Asian Diaspora groups to their original homelands. This is occurring in the areas of economic management and political change. As a result of the in...

by Shahid Javed Burki | On 09 Jan 2016

India’s Popular Culture in Southeast Asia

This paper will explore India’s influence on Southeast Asia during the 20th century, with a focus on its cultural dimensions. The Indian independence movement in particular played a significant role i...

by Rahul Advani | On 09 Jan 2016

A Tortured History : Federalism and Democracy in Pakistan

The Pakistan Army’s ideological hegemony, especially in the country’s Punjabi-speaking heartland, the continuing focus on the state’s narrative of a religion-based unitary identity which is under a co...

by Aasim Akhtar | On 08 Jan 2016

Impact of Participatory Forest Management on Financial Assets of Rural Communities in Northwest Pakistan

The system of participatory (or joint) forest management was commenced in the North West Frontier Province (NWFP) of Pakistan in 1996 through Asian Development Bank's funded project. These forest refo...

by Tanvir Ali | On 08 Jan 2016

Prevention and Resolution of Foreign Exchange Crises in East Asia

This paper discusses mechanisms to prevent and resolve foreign exchange crises in East Asia. Policies and mechanisms at the country level as well as regional and global levels are discussed. Policies...

by Andrew Cooper | On 07 Jan 2016

Institutions for Asian Integration: Innovation and Reform

The formation of regional production networks in East Asia has occurred mainly through market forces, without much help from regional institutions in promoting the creation of a single Asian market. W...

by Masahiro Kawai | On 07 Jan 2016

New Measures of the Trilemma Hypothesis: Implications for Asia

The authors develop a new set of indexes of exchange rate stability, monetary policy independence, and financial market openness as the metrics for the trilemma hypothesis. In their exploration, they...

by Masahiro Kawai | On 07 Jan 2016

Navigating a Changing World Economy: ASEAN, the People's Republic of China, and India

Most projections envision continued rapid growth in the members of the Association of Southeast Asian Nations (ASEAN), the People’s Republic of China (PRC), and India (collectively, ACI) over the next...

by Fan Zhai | On 07 Jan 2016

Production Networks, Profits, and Innovative Activity: Evidence from Malaysia and Thailand

Cross-border production networks have been playing an increasingly important role in the Association of Southeast Asian Nations (ASEAN) countries’ trade in recent years, but micro-level studies are ra...

by Ganeshan Wignaraja | On 07 Jan 2016

Financing Development Cooperation in Northeast Asia

Infrastructure connectivity in Northeast Asia — comprising the northeastern People’s Republic of China, Japan, the Democratic People’s Republic of Korea, the Republic of Korea, Mongolia, and the Russi...

by Masahiro Kawai | On 07 Jan 2016

The 2030 Architecture of Association of Southeast Asian Nations Free Trade Agreements

This paper investigates and analyzes the present status, potential, and prospects of Association of Southeast Asian Nations (ASEAN) free trade agreements (FTAs). The move towards the ASEAN Economic Co...

by Suthiphand Chirathivat | On 07 Jan 2016

Cross-Border Price Differentials and Goods Market Integration in East Asia

As cross-border movements of goods, capital, and labor are intensifying, it is likely that goods markets in East Asia will become increasingly integrated. This study investigates the current state of...

by Woosik Moon | On 07 Jan 2016

Negotiations for the Trans-Pacific Partnership Agreement: Evaluation and Implications for East Asian Regionalism

The Trans-Pacific Partnership (TPP) agreement seems to have reached a crossroads: it could either be a building block toward achieving economic integration in Asia and the Pacific, or trigger the form...

by Inkyo Cheong | On 07 Jan 2016

Multilateralizing Asian Regionalism

Motivated by the proliferation of free trade agreements (FTAs) in Asia over the last decade, this paper studies the challenges faced by the Asian “noodle bowl” — overlapping, multiple trade rules, reg...

by Richard Baldwin | On 07 Jan 2016

Modern Currency Wars: The United States Versus Japan

In 2013, through massive quantitative easing by the Bank of Japan (BOJ), the yen depreciated about 25% against the US dollar, stoking fears of Japan bashing by the US. However, this sharp depreciation...

by Ronald McKinnon | On 07 Jan 2016

Regional Trade Agreements and Enterprises in Southeast Asia

This paper undertakes a comparative and firm-level analysis of the impact of regional trade agreements (RTAs) in Indonesia, Malaysia and the Philippines. It finds that firm-heterogeneity matters in RT...

by Ganeshan Wignaraja | On 07 Jan 2016

Regional Financial Regulation in Asia

The Asian financial crisis (1997-1998) and the global financial crisis (2007-2009) highlighted the potential value of financial regionalism, i.e., regional-level cooperation in financial policy. This...

by Masahiro Kawai | On 07 Jan 2016

Migration, Gender, and Farming Systems in Asia

Limited statistics on internal migration, international migration, and remittances worldwide prohibit understanding of migration’s role in the agricultural transformation process. Insights from the qu...

by | On 07 Jan 2016

Groundwater, Fluoride Contamination in Unnao District (U.P)

A recent survey done by Vikas Bharati, an Unnao-based voluntary organization, revealed that 35%, 47.8% and 60.3% of children were affected with dental fluorosis, in Junior High School, Thana, Janta Sh...

by People's Science Institute PSI | On 06 Jan 2016

ASEAN Economic Integration through Trade and Foreign Direct Investment: Long-Term Challenges

This paper explores the long-term challenges for trade and foreign direct investment (FDI) of the Association of Southeast Asian Nations (ASEAN). The region has emerged as an important production base...

by Masahiro Kawai | On 06 Jan 2016

Japan’s Lost Decade: Lessons for Other Economies

Japan has suffered from sluggish economic growth and recession since the 1990s, a phenomenon dubbed “Japan’s Lost Decade.” The People’s Republic of China, many countries in the eurozone, and the Unite...

by Naoyuki Yoshino | On 06 Jan 2016

Managing Capital Flows in Asia: An Overview of Key Issues

Global capital flows into emerging markets, including those in Asia, continue to be volatile, generating both benefits and costs. The latter are associated with episodes of currency and banking crises...

by Ramón López | On 01 Jan 2016

Differential effects of graduating during a recession across gender and race

This study examines the differential effects of the unemployment rate at labor market entry,defined as the time of leaving school, on subsequent wages across gender and race using the National Longitu...

by Ayako Kondo | On 01 Jan 2016

Service Sector Productivity and Economic Growth in Asia

This paper explores the impacts of more rapid growth in labor productivity in the service sector in Asia based on an empirical general equilibrium model. The model allows for input-output linkages and...

by Jong-Wha Lee | On 30 Dec 2015

The Asian Currency Unit, Deviation Indicators, and Exchange Rate Coordination in East Asia: A Panel-Based Convergence Approach

Employing the panel convergence method of Phillips and Sul (2007) to the nominal deviation indicators of two recent unofficial constructions of the Asian Currency Unit (ACU) index, this paper examines...

by Kefei You | On 29 Dec 2015

Southeast Asia and the Economics of Global Climate Stabilization

Southeast Asia is vulnerable to climate change, yet is also on a carbon intensive development trajectory.The Asian Development Bank (ADB) has analyzed the potential role the region can play in climate...

by Jindra Samson | On 29 Dec 2015

Strengthening Municipal Governance through Performance-based Budget Allocation in Bangladesh

In Bangladesh, pourashavas are an alternative destination to large cities. With the influx of urban residents within the next decades, governments and development partners must lead pourashavas toward...

by Norio Saito | On 29 Dec 2015

Financial Crisis as a Catalyst of Legal Reforms: The Case of Asia

This paper discusses how financial crises in emerging Asia and Japan worked as catalysts for legal reforms. Findings show that six Asian countries pursued significant legal and judicial reforms follow...

by Masahiro Kawai | On 29 Dec 2015

An Asian Perspective on Global Financial Reforms

The purpose of this study is to better understand the likely impact on Asian economies and financial institutions of various recent global financial reforms, including Basel III capital adequacy and l...

by Peter Morgan | On 29 Dec 2015

Monetary Policy Frameworks in Asia: Experience, Lessons, and Issues

This paper reviews the history of East Asian monetary policy frameworks since 1990; describes current monetary policy frameworks, including issue of price versus financial stability for a central bank...

by Peter Morgan | On 29 Dec 2015

Three Arrows of 'Abenomics' and the Structural Reform of Japan: Inflation Targeting Policy of the Central Bank, Fiscal Consolidation, and Growth Strategy

“Abenomics” refers to the economic policies advocated by Prime Minister Shinzo Abe who became prime minister of Japan for a second time when his party, the Liberal Democratic Party, won an overwhelmin...

by Farhad Hesary | On 29 Dec 2015

Economic Implications of Deeper South Asian–Southeast Asian Integration: A CGE Approach

The paper estimates the potential gains to be large, particularly for South Asia, assuming that the policy- and infrastructure-related variables that increase trade costs are reduced via economic coop...

by Fan Zhai | On 29 Dec 2015

A Connectivity-Driven Development Strategy for Nepal: From a Landlocked to a Land-Linked State

Nepal's lackluster economic performance during the post-conflict period (that is, after November 2006) has been driven by remittances from the export of labor services and the improved performance of...

by Pradumna Rana | On 29 Dec 2015

Response of Stock Markets to Monetary Policy: An Asian Stock Market Perspective

We estimate the response of Asian stock market prices to exogenous monetary policy shocks using a vector error correction model. In our paper, monetary policy transmits to stock market price through t...

by Farzana Sehrin | On 29 Dec 2015

Connecting South and Southeast Asia: Implementation Challenges and Coordination

With closer regional integration there is increasing interest within the Association of Southeast Asian Nations (ASEAN) and on the part of ASEAN's dialogue partners in the potential gains of closer co...

by Termsak Chalermpalanupap | On 29 Dec 2015

The Contested Corners of Asia: Subnational Conflict and International Development Assistance

Subnational conflict is the most widespread, deadly and enduring, form of conflict in Asia. Over the past 20 years, there have been 26 subnational conflicts in South and Southeast Asia, affecting half...

by Ben Oppenheim | On 26 Dec 2015

Why Do SMEs Not Borrow More from Banks? Evidence from the People's Republic of China and Southeast Asia

This study examines the relationship between firm characteristics and borrowing from commercial banks by small and medium-sized enterprises (SMEs) in the People's Republic of China (PRC) and five Sout...

by Ganeshan Wignaraja | On 24 Dec 2015

Assessing the Experience of South Asia–East Asia Integration and India's Role

This paper examines the gains for South Asian economies from integratingwith East Asia and India’s role in this process. Evidence of increased pan-Asian integration exists but the process is uneven. B...

by Ganeshan Wignaraja | On 24 Dec 2015

Income Distributions, Inequality, and Poverty in Asia, 1992–2010

In this paper, income distributions for developing countries in Asia are modeled using beta-2 distributions, which are estimated by a method of moments procedure applied to grouped data. Estimated par...

by Duangkamon Chotikapanich | On 24 Dec 2015

Connecting South Asia and Southeast Asia: A Bangladesh Country Study

Economic integration is being inhibited by the poor state of transport connectivity between Bangladesh, and South Asia and Southeast Asia. This study reviews connectivity initiatives of Bangladesh and...

by Mustafizur Rahman | On 23 Dec 2015

Financial Inclusion, Regulation, and Education in Sri Lanka

Sri Lanka has achieved a high level of financial inclusion compared to other South Asian countries. Its financial sector comprises a wide range of financial institutions providing financial services s...

by Saman Kelegama | On 23 Dec 2015

Understanding Developing Country Resistance to the Doha Round

The Doha Round negotiations at the World Trade Organization have come to a halt. The vast majority of analyses of the (at least temporary) demise of the Doha Round have focused on the lack of the Unit...

by Timothy Sturgeon | On 23 Dec 2015

Lending Rates Behavior in Bangladesh: Some Facts and Determinants

The intention of this study is to analyze lending rate behavior in Bangladesh and also to determine the factors that mostly affect the lending rates. For this purpose, a set of macro and bank specific...

by Shahana Nasrin | On 22 Dec 2015

Cricket and Indian National Consciousness

It is recognized that there are close links between sport and politics, and in particular between sport and national consciousness. The Olympic Games and the football, rugby and cricket World Cups hav...

by | On 22 Dec 2015

Thailand’s Investment in India’s Northeast: Strategies, Potentials and Risks

The imperatives for Thailand’s investment in the Northeast have come from two important considerations, reflecting longterm strategic objectives of the Look West Policy of Thailand. First, India’s nor...

by | On 22 Dec 2015

Population and Ageing in India

According to present indications, most of the growth in the older age groups will take place in developing countries and over half of it will be in Asia, especially in the two major population giants...

by | On 21 Dec 2015

Teacher Incentives: Evidence from Schools in Delhi

The paper reports on existing incentive structures in a sample of government and private schools in Delhi and elicits teachers’ perspectives on factors which motivate them. It is found that performanc...

by | On 21 Dec 2015

Real Exchange Rate and its Impact on Export, Import and Trade Balance: Is There any J Curve Effect in Bangladesh?

The intention of this paper is to examine whether Real Exchange Rate (RER)depreciation has any impact on export, import and trade balance of Bangladesh. Real exchange rate is calculated using Tk./do...

by Maidul Chowdhury | On 19 Dec 2015

Currency Concerns under Uncertainty: Case of China

This note focus on some aspects relating to China’s currency. The paper discusses the twin surpluses which have been continuing in China’s external payments, especially in relation to trade which went...

by Sunanda Sen | On 18 Dec 2015

Exchange Rate Reform in South Sudan

This paper considers the role of the exchange rate in the economy and its importance as a macroeconomic instrument, and outlines the policy choices that are available to governments in general, and th...

by Keith Jefferis | On 18 Dec 2015

Reserve Accumulation and Sterilized Intervention in the Foreign Exchange Market in Bangladesh: An Empirical analysis

The main intention of the paper is to investigate the extent of sterilization of Bangladesh Bank to offset the monetary expansionary effect of reserve accumulation in the foreign exchange market. To...

by Mst. Nurnaher Begum | On 18 Dec 2015

External Sector Openness Management: The Bangladesh Experience

Bangladesh has had impressive growth in exports, remittances and foreign exchange reserve in recent year. By analyzing the liberalizing regime from 1979 to this date by adopting a comprehensive approa...

by Abdul Wahab | On 18 Dec 2015

India's Sri Lanka Policy: Towards Economic Engagement

India's Sri Lanka policy has built upon economic engagement to cooperate on initiatives of strategic importance. The lesson one can learn from this is the potential of economic linkages to overcome a...

by | On 18 Dec 2015

For Every Child, a Fair Chance: The Promise of Equity

This report makes the case for closing persistent gaps in equity, because the cycle of inequity is neither inevitable nor insurmountable, and the cost of inaction is too high. UNICEF’s commitment to e...

by United Nations Children's Fund UNICEF | On 17 Dec 2015

The Brics Development Bank

This policy brief recommends that these include commitments to: ending extreme poverty and inequality, with a special focus on gender equity and women’s rights; aligning with environmental and social...

by Oxfam International | On 17 Dec 2015

China's Fitful Economic Reforms

Back in 2004, when I ran the Chinadesk at the International Monetary Fund, my team some written questions to Beijing ahead of our meetings with Chinese officials. China’s central bank had claimed that...

by Eswar Prasad | On 16 Dec 2015

An Analysis of the Turmoil in the Stock Market: Issues and Challenges for Monetary Policy

The objective of this study is to examine the characteristics of the stock market bubble burst in Bangladesh and policy response for the sample period from 2004:7-2013:2. This paper also discusses the...

by Dr. Sayera Younus | On 15 Dec 2015

Human Rights and Asian Values

The thesis that Asian values are less supportive of freedom and more concerned with order than discipline than are Western values and that the claims of human rights in the areas of political and civi...

by Amartya Sen | On 10 Dec 2015

Notes on Land, Long Run Food Security and the Agrarian Crisis in India

These Notes are mainly about three interconnected themes; the international and Indian ‘take’ on control over land (and water); the distinction between an agricultural crisis and an agrarian crisis;...

by Sheila Bhalla | On 09 Dec 2015

Comparing Emissions Mitigation Efforts across Countries

A framework for comparing mitigation effort is drawn, drawing from a set of principles for designing and implementing informative metrics. A template for organizing metrics on mitigation effort is pr...

by William Pizer | On 09 Dec 2015

Asian Shipyards Respond to Arctic Opportunities

The Arctic sea ice has refrozen after a relatively longer summer this year compared with 2011. There are encouraging reports for the shipping industry and it is believed that similar navigation condit...

by Vijay Sakhuja | On 24 Nov 2015

How Much is Enough?

Post-7th Pay Commission recommendations, the pay being offered now should not be a disincentive for public-spirited people with ability. Can the government afford this hike?

by T.N. Ninan | On 21 Nov 2015

Fiscal Seigniorage “Laffer-curve effect” on Central Bank Autonomy in India

It is often emphasised that seigniorage financing of public sector deficits is technically a “free lunch” if the economy has not attained the full employment levels. However, conservative macroecono...

by Lekha S. Chakraborty | On 16 Nov 2015

Beyond Drugs: TB Patients in Bangladesh need Urgent Attention for Nutrition Support during Convalescene

This study measures the nutritional status (using Body Mass Index or BMI) of TB patients before, at two months, and after completion of TB treatment (DOTS) to study the changes during treatment and it...

by Environmental Management & Policy Research Institute | On 29 Oct 2015

Quality of Government and the Relationship between Natural Disasters and Child Poverty A Comparative Analysis

This paper explores the degree to which exposure to reoccurring natural disasters of various kinds explains seven dimensions of severe child poverty in 67 middle- and low-income countries. It also ana...

by Adel Daoud | On 28 Oct 2015

Development Central Banking: A Review of Issues and Experiences

The paper argues that central banks should play a broader role in helping developing countries meet their key challenges, such as generating productive employment, helping to allocate investment to pr...

by | On 28 Oct 2015

Infrastructure in India: Challenges and the Way Ahead

This study compares the levels of development of the social and physical infrastructure in India with those in other major emerging countries as well as developed countries. The study finds that India...

by Pradeep Agrawal | On 26 Oct 2015

Child Labour and Legislative Framework

Employment of children amounts to denial of rights of future generation and depriving children of their opportunities to growth. Moreover, working at tender age in hazardous conditions exposes childre...

by Helen Sekhar | On 26 Oct 2015

Policy Tradeoffs in an Open Economy and the Role of G-20 in Global Macroeconomic Policy Coordination

In this paper the aim is to investigate the different nuances of India's capital account management through empirical analyses as well as descriptive discussions. In particular the study the evolution...

by Rajeswari Sengupta | On 19 Oct 2015

The Influence of Industry Financial Composition on the Exports from Pakistan

the influence of the industry financial composition on the export flow between Pakistan and its trading partners is determined. The importing countries are split according to their OECD membership st...

by Aadil Nakhoda | On 16 Oct 2015

Natural Interest Rate: Assessing the Stance of India’s Monetary Policy under Uncertainty

Using a theoretical framework that combines the essence of Ramsay’s growth model and the New-Keynesian macrodynamics, and applying the Kalman filter estimation technique, this paper finds that Indi...

by Harendra Behera | On 16 Oct 2015

How 21st-Century Longevity Can Create Markets and Drive Economic Growth

Population ageing is one of the greatest trends shaping the 21st century social, economic and political life. As the world approaches 2020 there will be 1 billion people over the age of 60 and virtu...

by | On 16 Oct 2015

A Darwinian Perspective on “Exchange Rate Undervaluation”

This paper studies how status competition for marriage partners can generate surprising effects on the real exchange rate (RER). In theory, a rise in the sex ratio (increasing relative surplus of men)...

by Qingyuan Du | On 08 Oct 2015

The Effect of ASEAN on Human Trafficking in Southeast Asia

This paper examines the trafficking of vulnerable populations in Southeast Asia and the effectiveness of the Association of Southeast Asian Nations in combating human trafficking in the region. Human...

by | On 29 Sep 2015

Technology, Development and the Role of the State

South Asian countries like India and Pakistan had in the beginning placed the State at the “commanding heights of the economy”. Later, the State was justifiably displaced from that high pedestal. Howe...

by | On 24 Sep 2015

The Drowned and the Saved

How do refugees feature in contemporary rhetoric? In the face of suffering the only way to keep borders closed, as Europe is beginning to discover, is to turn one’s face away. The appeal constituted b...

by Pramod K. Nayar | On 19 Sep 2015

Do the ‘Asian’ Categories in the British Censuses Adequately Capture the Indian Sub-continent Diaspora Population?

Categories that capture the Indian sub-continent-origin population – ‘Indian’, ‘Pakistani’, ‘Bangladeshi’ – have been included on all the British census forms (1991, 2001, 2011) that have asked about...

by | On 17 Sep 2015

Money and Inflation: Evidence from P-Star Model

This study uses P-star model to examine the role of money in explaining inflation in India. In particular, we compare the performance of traditional Phillips curve approach against P-star model in for...

by Sunil Paul | On 14 Sep 2015

Socio-Demographic Factors Associated with Domestic Violence in Urban Slums, Mumbai, Maharashtra, India

Domestic violence is identified as a public health problem. It is associated with adverse maternal health. This study examined the prevalence and determinants of domestic violence among women in urban...

by C.P. Prakasam | On 09 Sep 2015

Is Citizenship the Answer? Constructions of belonging and exclusion for the stateless Rohingya of Burma

The Rohingya, a Muslim ethnic minority group in Arakan State, Burma, are among the most vulnerable and persecuted populations across the globe. Despite their significant historical presence in the cou...

by Cresa L. Pugh | On 08 Sep 2015

Nursing Shortage in India with special reference to International Migration of Nurses

In any health system, the health worker determines the nature and quality of services provided. Data demonstrate that most health systems across the globe face nursing shortages, varying across region...

by | On 07 Sep 2015

Gender and Distributional Preferences: Experimental Evidence from India

This paper is the result of a lab experiment conducted to assess whether gender of dictators and recipients, and distributional preferences affect allocations in a modified dictator game where both pa...

by Smriti Sharma | On 01 Sep 2015

Book Review: Before Orientalism: Asian Peoples and Cultures in European Travel Writing, 1245-1510

Review of Before Orientalism: Asian Peoples and Cultures in European Travel Writing, 1245-1510. Philadelphia: University of Pennsylvania Press, 2014. 328 pp. Rs. 4,029/- (hardcover), ISBN-13 978-08122...

by Liam M. Brockey | On 26 Aug 2015

Efficacy of New Monetary Framework and Determining Inflation in India: An Empirical Analysis of Financially Deregulated Regime

Against the backdrop of the new monetary policy framework, this paper analyses the determinants of inflation in the deregulated financial regime. The paper upfront has been kept free from adherence to...

by Lekha Chakraborty | On 25 Aug 2015

Strong Sustainable Growth for the Indian Economy

How is the RBI helping the government to create the conditions for a sustainable growth? Structural reforms will help strengthen this growth – two weeks ago, the Government announced Indradhanush, la...

by Raghuram G. Rajan | On 25 Aug 2015

Social and Cultural Development in the Development Triangle (CLV) and the Role of ASEAN in This Area

In a period not longer than 10 years (2002 – to present), 13 provinces at the common border of Cambodia-Laos-Vietnam (CLV Development Triangle) have cooperated for common development and achieved a lo...

by Hoang Thi My Nhi | On 19 Aug 2015

The Sunday Edit: Monetary Policy Transmission: Visible Disconnect

Enhancing bank competition, among other measures, could adequately strengthen interest rate transmission; but the danger is in overreaching and losing leverage.

by Ramkishen S. Rajan | On 16 Aug 2015

Public Debt Management in India and Related Issues

This study focuses on the marketable domestic public debt of the Government of India (GoI) in terms of size, magnitude, policy and approach followed and also discusses issues and challenges on debt m...

by Lakshmanan L | On 13 Aug 2015

Reduction of GHG Emissions and Attainment of Energy Security through Sustainable Production of Biofuels: Is it a Viable Option? A Review of Experinces

The National Policy on Biofuels sets an indicative target of 20per cent blending of biofuels by 2017 to tackle the twin problem of energy security and climate change. Although biofuels seem to be the...

by Gopinath Reddy | On 13 Aug 2015

Results from the Perception and Attitudes Towards Ageing and Seniors Survey ( 2013/2014)

In this paper the results are documented which derived from the Perception and Attitudes towards Ageing and seniors (PATAS) survey completed in early 2014. These results delve into respondents beliefs...

by Mathew Mathews | On 11 Aug 2015

Inflation Targeting for India?: The Implications of Limited Asset Market Participation

This paper considers the implications of an imperfect monetary transmission mechanism for optimal monetary policy choices in an open economy. The asset market channel is restricted in this paper as so...

by | On 11 Aug 2015

Equilibrium Exchange Rate Estimation for Taka – A Co integration Analysis

This paper is an attempt to know the equilibrium exchange rate of Taka to measure exchange rate misalignment. To estimate the equilibrium real exchange rate we use macroeconomic balance approach, wh...

by Md. Akhtaruzzaman | On 11 Aug 2015

Prevention of Loss or Decline of Vernacular and Indigenous Languages in the Indian Sub-Continent

Asian Societies with linguistic diversity have faced serious problems of loss or decline of vernacular and indigenous languages in modern times. Globalisation and urbanisation have brought a sea chang...

by P. Ishwara Bhat | On 10 Aug 2015

The Sunday Edit: Greek Crisis: Back to Basics

The willingness to distribute pain between both debtors and creditors is the only sensible way forward for the fragile currency bloc.

by Ramkishen S. Rajan | On 02 Aug 2015

Monetary Policy Credibility: Is There a Magic Bullet?

This paper examines the concept of monetary policy credibility from both the theoretical and practical viewpoints. It also discusses the advantages of high credibility and explains measures that can b...

by Naveen Srinivasan | On 31 Jul 2015

Impact of Trilemma Indicators on Macroeconomic Policy: Does Central Bank Independence Matter?

For a sample of 42 high and middle income countries analyzed over a period of 30 years ranging from 1982 till 2011, this paper shows that while an efficient trilemma policy choice can help lower inf...

by | On 31 Jul 2015

Long-Run Trends in the Distribution of Income and Wealth

This paper reviews the long run developments in the distribution of personal income and wealth. It also discusses suggested explanations for the observed patterns. It tries to answer questions such as...

by | On 30 Jul 2015

Inflation Targeting in India: Select Issues

The adoption of inflation targeting in India has been a much debated topic which also becomes a challenge for the emerging economy. Though inflation targeting has already been adopted in many emerging...

by Charan Singh | On 17 Jul 2015

Articulating a Vision for a Progressive BRICS Development Bank

Amidst calls for reform of international financial institutions and failure of existing development banks to satisfy the development financing needs of developing countries in general, and BRICS in pa...

by | On 16 Jul 2015

Safeguard Implementation: How Can We Make It More Meaningful?

The report presents the (i) safeguard systems of Bhutan, India and Nepal; (ii) differences in national safeguard laws and institutional processes with the Asian Development Bank’s safeguards policy; (...

by Asian Development Bank Institute | On 13 Jul 2015

Toward Regional Cooperation for the Sustainable Development of the East Asian Seas

In an era where development issues concerning human security, health, and the environment transcend national boundaries, international cooperation has become more crucial than ever. This issue of the...

by Atty. Raphael Lotilla | On 10 Jul 2015

Inflation Targeting for India? The Implications of Limited Asset Market Participation

This paper considers the implications of an imperfect monetary transmission mechanism for optimal monetary policy choices in an open economy. The asset market channel is restricted in this paper as so...

by | On 09 Jul 2015

The Sunday Edit: Tragedy of the Grecian Dilemma

Greek negotiations are more political than economic. Contrary to popular opinion, Greece has actually done quite well in terms of its macro fundamentals. And the case for imposing austerity measures...

by Saugata Bhattacharya | On 05 Jul 2015

A Financial Slave State

Greece is in huge financial trouble. Greece is paying the price for past follies like fictitious national accounts, unsustainable pension programmes, non-existent tax revenues and (the biggest mistake...

by T.N. Ninan | On 04 Jul 2015

Reflections on India's Emergence in the World Economy

This paper attempts to capture how India embraced the world economy against the backdrop of the evolving domestic and international economic policy environment. It began with a brief overview of the...

by | On 24 Jun 2015

Inflation Targeting India: Select Issues

The adoption of inflation targeting in India has been a much debated topic which also becomes a challenge for the emerging economy. Though inflation targeting has already been adopted in many emerging...

by Charan Singh | On 18 Jun 2015

A Noodle-Bowl of Issues

Will those who promote ayurvedic products that have iron as a standard ingredient, get the same treatment as Maggi noodles, or benefit from benign neglect?

by T.N. Ninan | On 15 Jun 2015

Monetary Policy and Informal Finance

This article utilises state-level data for 1961–2012 to examine the interlinkage between informal finance and monetary policy. The analysis suggests that in response to a monetary contraction, borrowi...

by Saibal Ghosh | On 15 Jun 2015

Impact of Interbank Liquidity on Monetary Transmission Mechanism: A Case Study of Pakistan

The transmission mechanism of policy-induced changes are is analysed in the discount rate and required reserves in Pakistan. The results suggest that the pass through to the lending rate is complete f...

by Muhammed Omar | On 05 Jun 2015

E-Waste in India

Like hazardous waste, the problem of e-waste has become an immediate and long term concern as its unregulated accumulation and recycling can lead to major environmental problems endangering human heal...

by Rajya Sabha | On 04 Jun 2015

Second Bi-monthly Monetary Policy Statement, 2015-16

On the basis of an assessment of the current and evolving macroeconomic situation the statement suggest that the global recovery is still slow and getting increasingly differentiated across regions.

by Raghuram G. Rajan | On 03 Jun 2015

Youth Participation in Civil Society and Political Life in Andhra Pradesh

This policy brief documents the participation of youth in Andhra Pradesh in civil society, the extent to which they uphold secular attitudes and their perceptions about and participation in political...

by Population Council | On 12 May 2015

Youth Welfare and Sports Development Department: Policy Note

The policy aims to promote and develop sports activities and to formulate and implement plans for the promotion of sports and improvement of standards of sports and games in the State of Tamil Nadu....

by | On 12 May 2015

ASEAN Community 2015: Managing Integration for Better Jobs and Shared Prosperity

This joint study of the Asian Development Bank and the International Labour Organization examines the impact of the ASEAN Economic Community (AEC) on labor. It highlights the challenges and opportunit...

by Asian Development Bank Institute | On 22 Apr 2015

Asian Development Outlook 2015 Financing Asia’s Future Growth

According to the Asian Development Outlook 2015, India is forecast to overtake China in terms of economic growth as the initial phase of government efforts to remove structural bottlenecks is lifting...

by Asian Development Bank Institute | On 01 Apr 2015

The Impossible Trinity: Where does India stand?

A comprehensive overview of a few empirical studies is presented that have explored the issue of Trilemma in the Indian context. Based on these studies an analysis is done on how have Indian policy ma...

by Satish Y Deodhar | On 30 Mar 2015

Financial Inclusion, Poverty, and Income Inequality in Developing Asia

Understanding the link between financial inclusion, poverty, and income inequality at the country level will help policymakers design and implement programs that will broaden access to financial serv...

by | On 27 Mar 2015

Industrial Policy: Its Relevance and Currency

This paper makes an attempt to reflect on the debate on industrial policy, which has seen a revival of sorts in recent years, by analysing the developments in the two most important faces of market-or...

by Biswajit Dhar | On 25 Mar 2015

IMI Konnect Volume 4 Issue 1 - January 2015

The January 2015 issue of IMI Konnect (Volume 4, Issue 1) contains the following articles - Does Monetary Policy Limit Lending Behaviour of Banks? by Samaresh Bardhan; Entrepreneurship Education in In...

by IMI Konnect | On 24 Mar 2015

Global Imbalances and Bretton Woods II Postulate

The paper intends to revisit this argument, particularly in the light of the change in deficits and surpluses in the world economy. The paper tries to trace the genesis of BWII to the debates which or...

by Krishnakumar S | On 10 Mar 2015

Addressing Inequality in South Asia

An outcome report of IMF-World Bank meetings held in October 2014, this report highlights the stark inequalities in human development in South Asia. Based on parameters such as monetary indicators, he...

by Martin Rama | On 17 Feb 2015

Impending Water Crisis in India and Comparing Clean Water Standards among Developing and Developed Nations

This paper is an overview of the issues surrounding India’s water scarcity, and also comparison of clean water standards between developing and developed nations. Water security is emerging as an incr...

by | On 06 Feb 2015

Addressing Inequality in Southeast Asia through Regional Economic Integration

The paper mainly discusses the issues and policies relating to inequality in Southeast Asia. Policies to reduce inequality include more efficient fiscal policies, improve infrastructure and generating...

by Josef Yap | On 29 Jan 2015

The Mechanism of Long-Term Growth in India

This paper aim to provide an account of growth in India based on its internal dynamics. This helps to place the relative roles of policy, shocks, and internal dynamics. The paper leads us to conclude...

by Pulapre Balakrishnan | On 21 Jan 2015

Global Economic Prospects

The report argues the recent setback in global economy and ways to strengthen the growth in developing countries. with a view to undertake growth and recovery in high-income countries, there is need t...

by World Bank | On 14 Jan 2015

Designing Policies in the Presence of Hawala Markets

The paper explores the impact of the existence of such a mechanism on the effectiveness of various policy instruments in influencing outcomes on the official foreign exchange markets and GDP. The pape...

by R.Kavita Rao | On 13 Jan 2015

Student Politics: A Game-Theoretic Exploration

The student parties on campus are essentially student wings of larger national parties, which command huge amounts of resources that are used during elections, often instigating conflict and violenc...

by Soumyanetra Munshi | On 01 Dec 2014

Linkages between Maternal Education and Childhood Immunization in India

While correlations between maternal education and child health have been observed in diverse parts of the world, the causal pathways explaining how maternal education improves child health remain far...

by Kriti Vikram | On 30 Oct 2014

Spillover Effects of Exchange Rates: A Study of the Renminbi

This paper estimates the impact of China’s exchange rate changes on exports of competitor countries in third markets, which is called as the “spillover effect. Recent theory is used to develop an id...

by Aaditya Mattoo | On 29 Oct 2014

Currency Undervaluation and Sovereign Wealth Funds: A New Role for the World Trade Organization

Two aspects of global imbalances - undervalued exchange rates and sovereign wealth funds - require a multilateral response. This paper proposes new rules in the World Trade Organization to discipline...

by Prachi Mishra | On 22 Oct 2014

What Undermines Aid’s Impact on Growth?

Why it is so hard to find a robust effect of aid on the long-term growth of poor countries, even those with good policies. A possible offset to the beneficial effects of aid is examined using a meth...

by Raghuram G. Rajan | On 20 Oct 2014

Notes on Land, Long-run Food Security and the Agrarian Crisis in India

These Notes are mainly about three interconnected themes; i) the international and Indian ‘take’ on control over land (and water); ii) the distinction between an agricultural crisis and an agrarian...

by Sheila Bhalla | On 01 Oct 2014

Causes of Indian Rupee Depreciation and its Impact on Bangladesh Economy

The intention of this paper is to examine the impact of Indian Rupee depreciation on Bangladesh Economy. The empirical results obtained from OLS for the sample period from 2007:10 to 2013:10 show tha...

by Sayera Younus | On 25 Sep 2014

Political Economy of Transition from Manmohanomics to Modinomics

The inaugural budget of the NDA led government has been a cause of some surprise and disappointment amongst those who were eagerly expecting a new radical dose of neo-liberal reforms. It appeared that...

by Surajit Mazumdar | On 22 Sep 2014

Assessing the Costs of Climate Change and Adaptation in South Asia

With a population of 1.43 billion people, one-third of whom live in poverty, the South Asia developing members of ADB face the challenge of achieving and sustaining rapid economic growth to reduce pov...

by Sanjay Upadhyaya | On 19 Sep 2014

Creative Budgeting or Actual Deficit Reduction? The case of FRBM Act

The FRBM Act was reflective of the shared commitment across political parties towards fiscal conservatism. A decade later, the picture, as reflected in the Union Budget, is yet to change for the bette...

by Surajit Mazumdar | On 07 Aug 2014

Power and Resistance: Silence and Secrecy in Avatar - The Last Airbender

In the American animated television series, Avatar: The Last Airbender (ATLA), a visually Asian-influenced world of humans, animals and spirits plays out a history of violence, trauma and resistance....

by Gayatri Viswanath | On 24 Jul 2014

Salient Features of Measuring, Interpreting and Addressing Indian Inflation

The paper reviews the calculation of Indian wholesale and consumer price indices and suggests improvements in the light of past experience and international best practices. It confirms that food infla...

by Kirti Gupta | On 22 Jul 2014

State of the Economy: Economic Survey Report

In 2014-15, the Indian economy is poised to overcome the sub-5 per cent growth of gross domestic product (GDP) witnessed over the last two years. The growth slowdown in the last two years was broad ba...

by Planning Commission | On 10 Jul 2014

Impact of Private Tutoring on Learning Levels: Evidence from India

Despite widespread and substantial private expenditure on private tutoring outside the formal school system in many developing countries, not much is known about their effects on learning outcomes....

by Ambrish Dongre | On 05 Jul 2014

Determinants for the Demand and Supply of Texile Exports of Pakistan

This study analyses the demand and supply side determinants of textile and garments’ exports of Pakistan using time series data for the period 1972– 2010. Eight trading partners (US, UK, Canada, It...

by Rabia Latif | On 01 Jul 2014

Monetary Incentives to Reduce Open-Field Rice-Straw Burning in the Plains of Nepal

In southern Nepal, rice straw burning in open fields is common practice. This is problematic because biomass burning contributes to smoke, black carbon and greenhouse gases. While some studies have ex...

by Krishna Prasad Pant | On 02 Jun 2014

Urbanization and Spatial Patterns of Internal Migration in India

With an urbanization level of 31.16 percent in 2011, India is the least urbanized country among the top 10 economies of the world. In addition, unlike other countries, the transition of workforce out...

by Ajay Sharma | On 26 May 2014

Higher Education in Asia: Expanding Out, Expanding Up

This report presents data and analysis to better understand the factors driving the expansion in undergraduate and graduate education across Asia. By looking at the system as a whole, the authors eval...

by David W. Chapman | On 16 May 2014

Report on the State of Food Insecurity In Urban India

The concept of food insecurity is multidimensional in nature and is determined by a whole range of issues such as domestic production of food, import and export of food, purchasing power of people to...

by V. B. Athreya | On 03 Apr 2014

Short-term Migration and Consumption Expenditure of Households in Rural India

In 2007-08, short-term migrants constituted 4.35 per cent of the rural workforce. A total of 9.25 million households in rural India had short-term migrants.Using a nationally representative data for...

by S. Chandrasekhar | On 27 Mar 2014

Education For All Global Monitoring Report 2013/4

This edition of the Education for All (EFA) Global Monitoring Report demonstrates the reasons why education is pivotal for development in a rapidly changing world. It explains how investing wisely in...

by UNESCO UNESCO | On 30 Jan 2014

Productivity Response to a Contract Change

This paper studies the productivity impact of a contract change. The setting is a tea plantation in India. The activity in question is tea-plucking, the output from which is measurable and contractib...

by Rajshri Jayaraman | On 24 Jan 2014

Sino-Indian Panchsheel and Japan’s overture to India

With 2014 designated as the “Year of Friendly Exchanges between India and China”, the two mega-state Asian neighbours will commemorate later this year the 60th anniversary of the enunciation of Five P...

by P S Suryanarayana | On 22 Jan 2014

The Way Forward for Northeast India

This paper seeks to explain the idea of linking Northeast India to Southeast Asia, which gained popular imagination following the release of the North Eastern Region Vision 2020 document in 2008. Howe...

by Laldinkima Sailo | On 22 Jan 2014

Financing Infrastructure in Bangladesh – Some Options

This paper seeks to outline the infrastructure needs of Bangladesh with respect to domestic sources of finance. While infrastructure encompasses energy, transportation, telecommunications, water and...

by Ishraq Ahmed | On 22 Jan 2014

A Turbulent Pakistan: India’s Choices in Response

The fate and future of Pakistan has been an issue of considerable concern and anxiety not only inside Pakistan but in the world at large and South Asia in particular. The Fund for Peace project on the...

by S.D. Muni | On 22 Jan 2014

Gender Equality and Women’s Empowerment Operational Plan, 2013–2020

Gender equity is one of the five drivers of change in the Asian Development Bank(ADB) Strategy 2020. ADB recognizes that without harnessing the talents, human capital and economics potential of women,...

by Asian Development Bank Institute | On 20 Jan 2014

How to Evaluate Rural Development Schemes

In 2000-01, almost Rs 10,000 crore was spent on rural development schemes. The central government has almost a dozen major schemes in operation. But how is the success or failure of these schemes to b...

by Arpita Bedekar | On 31 Dec 2013

Political Stability and Economic Growth in Asia

This paper has investigated the effects of various factors of political instability on economic growth in selected ten Asian economies during 1990-2005. The empirical findings show a close relationshi...

by Muhammad Younis | On 28 Nov 2013

Regional Comprehensive Economic Partnership: Reform Challenges and Key Tasks for the Philippines

The paper calls the attention of policymakers to address critical constraints affecting the effective utilization of free trade agreements, growth, trade facilitation and customs administration, servi...

by Gilberto M. Llanto | On 15 Nov 2013

Measuring International Remittances in India: Concepts and Empirics

India is the top remittance receiving nation in the world. The international remittance receipts in India have grown at an impressive rate of 300 per cent during the past decade. Understanding the tru...

by Puja Guha | On 13 Sep 2013

Statement by Dr. Raghuram Rajan

Statement by Dr. Raghuram Rajan on taking office on September 4, 2013. [RBI Press release].

by Sabeeta Badkar | On 05 Sep 2013

Five Years of Leading the Reserve Bank: Looking Ahead by Looking Back

This Tenth Nani A. Palkhivala Memorial lecture lecture centres around the role and responsibility of a central bank in a democratic structure. Central banks make macroeconomic policy that influences t...

by Duvvuri Subbarao | On 30 Aug 2013

Historical Changes in Relations Between China and Neighboring Countries (1949–2012)

In China’s foreign affairs and security studies, the concept of the ‘neighborhood’ (zhoubian) has a special meaning that has changed gradually over time. As China has developed, its leadership has be...

by Zhang Chi | On 12 Aug 2013

For Love or Money? Motivating Workers

An analysis of the ability of employers to provide care and attention as a way to motivate their employees is done. Workers not only compare their wages, as pointed out in previous literature, but als...

by Saima Naeem | On 09 Aug 2013

The Benefits of Breastfeeding Across the Early Years of Childhood

The choice to breastfeed rather than formula-feed an infant as well as the duration of doing so has been scrutinized in more recent times. Yet, key identification issues remain to be resolved, includi...

by Clive Belfield | On 08 Aug 2013

Perils of the Drug Trade: Implications and Challenges of Central Asia’s “Northern Route”

The international trade in Afghan drugs is one of the most significant transnational threats emanating from Central Asia. Exacerbated by weak border management, corruption, and lack of income-generat...

by Lars-Erik Lundin | On 26 Jul 2013

Draft National Sports Development Bill, 2013

To provide for promotion and development of sports and welfare measures for sportspersons, promotion of ethical practices in sports (including elimination of doping practices, fraud of age and sexual...

by Ministry of Youth and Sports Affairs YAS | On 12 Jul 2013

An Observer

An Observer portrays the plight of inter state migrants in India. Dreams are limns of reality that sometimes remain shattered, which also signifies the fact that life is a beautiful 'bitter fruit'. ...

by Raghu Raman | On 04 Jun 2013

Media monitoring on Corruption in Indian print Media

To explore how much coverage is given by Leading Indian newspaper to 2G Scam and Common Wealth Games during the period of study. To explore what kind of image of India is famed by all four newspape...

by Daniel Drache | On 25 Apr 2013

The Political Economy of Food Pricing Policy in China

The overall goal of this paper is to analyse the political economy of food price policies in China during the global food crisis. The results show that given China’s unique economic and political co...

by Jikun Huang | On 18 Apr 2013

The Securities and Exchange Board of India (Amendment) Bill, 2013

A bill further to amend the Securities and Exchange Board of India Act, 1992. [PRS]. URL:[http://www.prsindia.org/uploads/media//SEBI%20(A)%20Bill,%202013/The%20Securities%20and%20Exchange%20Board%20...

by Parliamentary Research Service PRS | On 19 Mar 2013

The Lancang-Mekong River Basin: Reflections on Cooperation Mechanisms Pertaining to a Shared Watercourse

The ambitious development plans for the Lancang-Mekong River Basin (LMRB) could have serious environmental, social, cultural and even geopolitical ramifications that could in turn destabilise the Meko...

by Apichai Sunchindah | On 15 Mar 2013

Nine years later…

Is the Finance Minister going to do a salvage operation? [BS week end ruminations].

by T.N. Ninan | On 27 Feb 2013

Historical Sources of Institutional Trajectories in Economic Development: China, Japan, and Korea Compared

This essay provides a game-theoretic, endogenous view of institutions, and then applies the idea to identify the sources of institutional trajectories of economic development in China, Japan, and Kore...

by Masahiko Aoki | On 22 Feb 2013

Indian Special Economic Zones: The Difficulties of Repeating China’s Triumph

New Delhi launched its SEZ revolution in April 2000 to secure the country a two digit growth rate, copying from China what during the previous two decades proved to be an excellent strategy, this pa...

by Claudia Astarita | On 21 Feb 2013

Connecting the Dots: The Urban Informal Sector and Climate Vulnerabilities in Southeast Asia’s Megacities

In the megacities of developing Southeast Asia, the informal sector plays an important role in supporting economic development. Yet, in discussions of the ramifications of climaterelated natural haz...

by Sofiah Jamil | On 13 Feb 2013

The Companies Bill, 2011

A bill to consolidate and amend the law relating to companies. [PRS]. URL:[http://www.prsindia.org/uploads/media/Company/companies%20bill%202011.pdf].

by Parliamentary Research Service PRS | On 11 Feb 2013

How to Tackle Food Insecurity in Asia

Review of the book Food Security in Asia, by Amitava Mukherjee Sage Publications India 2011 pp. xix+392, Rs 895/-.

by Rudra Narayan Mishra | On 04 Jan 2013

The Real Exchange Rate and Export Growth: Are Services Different?

The determinants of exports of services, distinguishing between modern and traditional services are considered. The growth of export volumes and so-called export surges – periods of rapid sustained...

by Barry Eichengreen | On 02 Jan 2013

The Intellectual Origins of the New Asia

Essayist, journalist and novelist Pankaj Mishra was at Canada's International Development Research Centre (IDRC) September 19, 2012, to discuss his new book From the Ruins of Empire: The Revolt Agains...

by Pankaj Mishra | On 07 Dec 2012

It’s a Boy! Women and Non-Monetary Benefits from a Son in India

Son preference is widespread in a number of developing countries. Anecdotal evidence suggests that women may contribute to the persistence of this phenomenon because they derive substantial long-run...

by Laura Zimmermann | On 19 Nov 2012

Why was the Participation of Indian States in the Growth Turnaround so Patchy? Some Evidence Based on Robustness Analysis

In Ghate & Wright Journal of Development Economics, vol. 99 (2012) pp 58–67, it was noted that there was considerable variation in the extent to which different Indian states participated in the Gr...

by Chetan Ghate | On 02 Nov 2012

Energy Savings Potential and Policy for Energy Conservation in Selected Indian Manufacturing Industries

This paper focuses on the assessment of energy savings potential in seven highly energy consuming industries. The paper estimates the energy savings potential for each of these industries using unit l...

by Manish Gupta | On 17 Sep 2012

Japan’s Post-Triple-Disaster Growth Strategy

This paper discusses the scope of the many challenges and sets out a long-term strategy for overcoming them and putting the Japanese economy on a stable growth path. [Working Paper No. 376]. URL:[http...

by Masahiro Kawai | On 24 Aug 2012

Nationalist Sentiments Run High in Asian Territorial Disputes

Spot fire disputes have sparked across Asia, with the winds of nationalism spurring them on. If one flares up it could ignite a region. Escalating tensions should have mediators vigilant and with pai...

by Elliot Brennan | On 24 Aug 2012

2012 London Olympics, 2 Silver and 4 Bronze Medals

India won 2 silver and 4 bronze medals at the 2012 London Olympics. [YAS]. URL:[http://www.yas.nic.in/writereaddata/linkimages/3037530130.pdf].

by Ministry of Youth and Sports Affairs YAS | On 20 Aug 2012

The Group of Twenty: Input and Output Legitimacy, Reforms, and Agenda

The paper examines the debates and makes specific policy recommendations by which regionalism, the engagement of small states (through the role of Singapore and the 3-G coalition), and the expansion o...

by Andrew F Cooper | On 09 Aug 2012

Pilot Intervention of Improved Cook Stoves in Rural Areas: Assessment of Effects on Fuel Use, Smoke Emission and Health

This study aims to explore the impact of improved cook stoves (ICS) on fuel expenditure (consumption), smoke emission, and health of women (cook) in rural households of Bangladesh. In the follow-up...

by Nepal C. Dey | On 06 Aug 2012

Has India Emerged? Business Cycle Stylized Facts from a Transitioning Economy

A comprehense documentation - using both annual and quarterly data - an exhaustive set of stylized facts for the Indian business cycle in the pre and post reform period, the data is used to report...

by Chetan Ghate | On 19 Jun 2012

The Impact of 1998 and 2008 Financial Crises on Profitability of Islamic Banks

The paper investigates the profitability of 78 Islamic banks in 25 countries for the period of 1992-2009. The Fixed Effect Model (FEM) used to analyse profitability shows that profit efficiency is pos...

by NOR HAYATI BT AHMAD | On 24 May 2012

Myths and Realities of Long-run Development: A Look at Deeper Determinants

This paper reviews the debate surrounding the “deeper determinants” of economic performance. It reviews the work of Institutional School and Geography School and their interpretation of the long-r...

by Lubna Hasan | On 24 May 2012

The Cost of Unserved Energy: Evidence from Selected Industrial Cities of Pakistan

This study is an attempt to explore the cost of unserved energy due to power outages in Pakistan that started in 2007. The study is based on a survey conducted for four major industrial cities of Pu...

by Rehana Siddiqui | On 24 May 2012

Black Money

The objective of this paper is to place in the public domain various facets and dimensions of black money and its complex relationship with the policy and administrative regime in the country. The pa...

by Ministry of Finance | On 22 May 2012

The Mind Game: Invisible Cheating and Inferable Intentions

This paper presents a novel cheating game or mind game, in which subjects can cheat purely in their minds so that it is invisible. However, since the mind game is a game of chance, the probability o...

by Ting Jiang | On 09 May 2012

Trans-boundary River Basins in South Asia: Options for Conflict Resolution

India's trans-boundary riparian policies affect four countries - Pakistan, Nepal, Bhutan and Bangladesh - on three river systems - the Indus, the Ganga and the Brahmaputra-Mehgna. China's riparian pol...

by Gopal Siwakoti Chintan | On 25 Apr 2012

Philippine Economy: Sluggish in 2011, Bullish in 2012?

The Philippine domestic economy shrunk to 3.7 percent in 2011, after a growth of 7.6 per cent in 2010. Outlook for 2012 is relatively sanguine with the government hinging its optimism on robust ...

by Senate Economic Planning Office SEPO | On 20 Apr 2012

Measuring and Explaining the Asymmetry of Liquidity

This paper examines transactions costs in buying versus selling using a large database of snapshots of the limit order book. On the equity spot market, there is clear evidence of asymmetry in liquid...

by Rajat Tayal | On 19 Apr 2012

The BRICS Report: A Study of Brazil, Russia, India, China, and South Africa with Special Focus on Synergies and Complementarities

Th is study, which is supported by the ministries of fi nance and the central banks of the BRICS, focuses on synergies and complementarities between the economies, highlighting their role as growth ...

by Ministry of Finance | On 18 Apr 2012

Innovative Approaches to Managing Longevity Risk in Asia: Lessons from the West

This paper discusses what is longevity risk, why it is important, approaches used by the West to manage longevity risk and what lessons can be learnt by Asian countries from the experiences of the Wes...

by Amlan Roy | On 18 Apr 2012

Brides for Sale: Cross-Border Marriages and Female Immigration

Every year, a large number of women immigrate as brides from developing countries to developed countries in East Asia. This phenomenon virtually did not exist in the early 1990s, but foreign brides...

by Daiji Kawaguchi | On 16 Apr 2012

The Great Depression and the Great Recession: What have we Learned?

The Financial Crisis of 2007-2008 and the Great Recession of 2007-2009 are now in the past. Again there was the debt crisis of 2010-11. During the worst of the recent financial crisis/Great Recession...

by Michael D Bordo | On 13 Apr 2012

Monetary Transmission in Pakistan: The Balance Sheet Channel

Using data of non-financial listed firms over a period of 1999-2010, this paper investigates the effectiveness of balance sheet channel in monetary transmission mechanism in Pakistan. By classifying f...

by Safia Shabbir | On 09 Apr 2012

A Competitive Genetic Algorithm for Single Row Facility Layout

The single row facility layout is the NP-Hard problem of arranging facilities with given lengths on a line, so as to minimize the weighted sum of the distances between all pairs of facilities. Owing t...

by Uma Kothari | On 09 Apr 2012

Comparative Rating Index for Sovereigns (CRIS): A Report Based on “The Relativity of Sovereigns: A New Index of Sovereign Credit Ratings and an Analysis of How Nations Fared over the Last Six Years”

Major credit rating agencies give out the sovereign credit rating of each nation as an absolute grade. How other nations fare over the period under consideration does not matter in a particular nation...

by Kaushik Basu | On 02 Apr 2012

Price and Income Elasticity of Imports: The Case of Pakistan

The paper estimates the elasticity of Imports with respect to relative prices and income for Pakistan from 1971 to 2009. What distinguishes this paper from the earlier studies is the use of robust est...

by Khurram Ashfaq Baluch | On 30 Mar 2012

Myanmar’s Ethnic Insurgents: UWSA, KNU and KIO

Since the elections of 2010, Myanmar’s political landscape has changed significantly; the old military junta has officially been dissolved and a new civilian government, led by President Thein Sein,...

by Christopher O’Hara | On 27 Mar 2012

Health Care Financing Reforms in India

The transfer system in India is discussed and analyses expenditure needs of States to provide essential health infrastructure. It also analyzes the fiscal space for health care in terms of stimulati...

by M Govinda Rao | On 19 Mar 2012

Close Eye or Closed Eye: The Case of Export Misinvoicing in Bangladesh

The effect of export subsidies on the under-invoicing of exports in Bangladesh is analyzed. In a framework that allows for unobserved heterogeneity among importing countries and product specificities,...

by Pranav Kumar Gupta | On 16 Mar 2012

Federal Budget of Pakistan-2011-12

BUDGET SPEECH 2011-2012 by DR. ABDUL HAFEEZ SHAIKH, Minister for Finance, Revenue, Economic Affairs, Statistics and Planning & Development.

by Minister of Finance Pakistan | On 12 Mar 2012

The Age Distribution of Missing Women in India

Relative to developed countries, there are far fewer women than men in India. Estimates suggest that more than 25 million women are "missing". Sex selection at birth and the mistreatment of young g...

by Siwan Anderson | On 09 Mar 2012

Time Poverty, Work Status and Gender: The Case of Pakistan

Time is an important economic resource that can be spent in a variety of ways. Diverse demands on a person’s time may reach a point where the individual may be categorized as time poor. Time poverty...

by Najam us Saqib | On 09 Mar 2012

Theft and Loss of Electricity in an Indian State

Utilizing data from the power corporation of Uttar Pradesh, India’s most populous state, the politics of electricity theft over a ten year period (2000–09) is studied. It is seen that electricity the...

by Miriam Golden | On 06 Mar 2012

The End of the “Liberal Theory of History”? Dissecting the U.S. Congress’ Discourse on China’s Currency Policy

In the last ten years, economic issues related to currency policy have become the major ongoing dispute between China and the U.S. Especially the U.S. Congress is stridently demanding a tougher poli...

by Nicola Nymalm | On 01 Mar 2012

Capital Accumulation and Convergence in a Small Open Economy

Outward-oriented economies seem to grow faster than inward-looking ones. Does the literature on convergence have anything to say on this? In the dynamic Heckscher-Ohlin-Samuelson model, with factor-pr...

by Partha Sen | On 28 Feb 2012

Terms of Trade and Its Implications: Bangladesh Perspective

This paper explores the key reasons behind the movements in the terms of trade and the real net gain and loss from trade in the long run. Like some selected Asian countries (Vietnam, China and South...

by Mohammad Masuduzzaman | On 23 Feb 2012

Regional and Global Monetary Cooperation

The increasing occurrence of national, regional, and global financial crises, together with their rising costs and complexity, have increased calls for greater regional and global monetary cooperation...

by Mario Lamberte | On 21 Feb 2012

Foundations of Collective Action in Asia: Theory and Practice of Regional Cooperation

This paper argues that the collective action in Asia by its regional organizations has historically suffered from a “capability–legitimacy gap”: a disjuncture between the capability (in terms of mat...

by Amitav Acharya | On 17 Feb 2012

Estimating Standard Error of Inflation in Pakistan: A Stochastic Approach

Standard errors (S.Es.) of month on month and year on year inflation in Pakistan are estimated based on data for the period of July 2001 to June 2010 using stochastic approach as well as extended s...

by Javed Iqbal | On 15 Feb 2012

Myanmar Economy: A Comparative View

A stated objective of Myanmar is to become a modern developed nation that will stand shoulder to shoulder – proud, dignified and tall – with the countries of the world. How far has Myanmar come in a...

by U Myint | On 15 Feb 2012

From REDD to Green: A Global Incentive System to Stop Tropical Forest Clearing

A prototype incentive system is developed for promoting rapid reduction of forest clearing in tropical countries. The proposed Tropical Forest Protection Fund (TFPF) is a cash-on-delivery system that...

by David Wheeler | On 09 Feb 2012

The Euro Zone Crisis and its Dimensions and Implications

The sovereign debt problems in the peripheral economies of the euro zone has started to pose a serious threat to the main economies of the Europe and perhaps to the future of the 'euro‘ itself. Such a...

by M R Anand | On 06 Feb 2012

Stability and Policy Rules in Emerging Markets

Stability results for an open economy DSGE adapted to an emerging market (SOEME) with a dualistic structure have the same structure as in the original model, but those derived for the simulated versi...

by Ashima Goyal | On 02 Feb 2012

Inflation in Nepal

A large number of studies in Nepal have been conducted to identify the factors responsible for inflation based on the different theories of inflation. Although these studies provide insight into the...

by Nepal Rastra Bank Research Department NRB | On 02 Feb 2012

The Complexity of Immigrant Generations: Implications for Assessing the Socioeconomic Integration of Hispanics and Asians

Much of the socioeconomic mobility achieved by U.S. immigrant families takes place across rather than within generations. When assessing the long-term integration of immigrants, it is therefore impo...

by Brian Duncan | On 31 Jan 2012

Fiscal Policy in India: Trends and Trajectory

This essay examines the trajectory of India?s fiscal policy with a focus on historical trends, fiscal discipline frameworks, fiscal responses to the global financial crisis and subsequent return to a...

by Supriyo De | On 31 Jan 2012

“Reserve Bank of India Post-Policy Conference Call”

RBI Governor D. Subbarao answering to researchers after publishing the monetary policy. [RBI]. URL:[http://rbidocs.rbi.org.in/rdocs/Content/PDFs/RBIRA27012012.pdf]

by Reserve Bank of India RBI | On 30 Jan 2012

Toward a Framework for Implementation of Climate Change Treaty through Self-enforcing Mechanisms

The paper discusses the pros and cons of the already proposed international cooperative mechanisms toward climate change mitigation and highlights the problem of information revelation, particularly...

by Meeta Keswani Mehra | On 27 Jan 2012

Third Quarter Review of Monetary Policy 2011-12

This policy review is set in the context of a highly uncertain global environment and a delicately poised domestic balance between growth and inflation. It should be read and understood together...

by Duvvuri Subbarao | On 25 Jan 2012

Macroeconomic and Monetary Developments Third Quarter Review 2011-12

The Growth outlook has weakened as a result of adverse global and domestic factors that have been mentioned above. Business and consumer confidence has been impacted. Professional forecasters now...

by Reserve Bank of India RBI | On 25 Jan 2012

The Relationship between Inflation and Relative Price Variability in Pakistan

This paper explores the relationship between inflation and relative price variability (RPV) by using disaggregated CPI data for Pakistan. Three methods have been used to assess the functional form and...

by Muhammad Akmal | On 25 Jan 2012

Building World Class Businesses for the Long Term

This report identifies some of the factors complicating the debate on role of the company in society. It focuses particularly on the changing models of ownership and differing time horizons and on how...

by Gillian Lee | On 23 Jan 2012

Banks, Policy and Risks

This paper assesses the sources of risk for Indian banks in the context of their history, structure, level of development, and policy environment and draws out implications for global and domestic pol...

by Ashima Goyal | On 18 Jan 2012

Challenges in IMS Reforms: A Global and Emerging Markets Perspective

The current global financial crisis has reopened an old debate on the international monetary system by baring weaknesses and flaws that have long been known. The debate is centred on both stability an...

by Alok Sheel | On 10 Jan 2012

Strengthening Banking Regulation: Amending the BSP Charter

This Policy Brief discusses the proposed amendments to Republic Act No. 7653 (RA 7653). The first part briefly presents the mandate of the Bangko Sentral ng Pilipinas (BSP). It then describes the fi...

by Senate Economic Planning Office SEPO | On 29 Dec 2011

Economic Dynamics and Forest Clearing: A Spatial Econometric Analysis for Indonesia

This paper uses a large panel database to investigate the determinants of forest clearing in Indonesian kabupatens since 2005. The study incorporates short-run changes in prices and demand for palm...

by David Wheeler | On 28 Dec 2011

The Evolving Dynamics of Global Economic Power in the Post-crisis World: Revelations from a New Index of Government Economic Power

This paper develops an index for measuring the economic power of governments viewed as entities in themselves. The basic idea is to encapsulate the economic representative power of a nation’s governme...

by Kaushik Basu | On 27 Dec 2011

Monetary Neutrality in the Nepalese Economy during 1975-2008

One of the methods of measuring the effectiveness of monetary policies is via inspection of monetary neutrality in the economy. It is a concept from classical economics and it suggests that changes...

by Mukesh Khanal | On 16 Dec 2011

Union Power November 2011

The three year journey of the G-20 Heads of Government Summit from Washington in 2008 to Paris this November is signified by two markers of the depth of the global capitalist crisis. First, that the c...

by Louise Ross | On 14 Dec 2011

China’s Financial Integration into the World Economy: Scrutinising China‘s International Investment Position

Possible scenarios for China and the world economy until 2015 is looked at. In all of them, China will continue to accumulate FX reserves, so that reserve assets will remain the largest component of...

by Catherine Shu Ling Tan | On 08 Dec 2011

Indigenous Communities, Cooperation, and Communication: Taking Experiments to the Field

A series of common-pool-resource field experiments were conducted in eight indigenous communities in India that have very long traditions of shared norms and mutual trust. Two experimental designs a...

by Rucha Ghate | On 02 Dec 2011

Monetary and Fiscal Policy in the Presence of Informal Labour Markets

How does informality in emerging economies affect the conduct of monetary and fiscal policy? To answer this question two-sector, formal-informal new Keynesian closed-economy is constructed. The inf...

by Nicoletta Batini | On 02 Dec 2011

How to Improve the Fight Against Doping A perspective from the German Sport University and the Institute of Biochemistry

A review of the progress in controlling of doping in sports and the current state of research in the field.

by Parliamentary Research Service PRS | On 01 Dec 2011

Adverse Analyzing - A European Study on the Reporting Practices and the Efficacy of Drug Testing Athletes

Analysing data on reporting and discovery of doping in sports in Euroean countries, the author makes a case for the following:Balance Infringements and Effectiveness; Set system on solid legal basis;...

by Jonas Hoffmann | On 01 Dec 2011

An Estimated DSGE Model of the Indian Economy

A closed model DSGE model of the Indian economy is developed and it is estimated by Bayesian Maximum Likelihood methods using Dynare. A model is build up in stages to with a number of features impo...

by Vasco Gabriel | On 28 Nov 2011

The Challenge of Food Inflation

The trends in food inflation over the past 60 years are given. Having thus set the context, the factors driving structural food inflation, which should give us a perspective of the underlying dynam...

by Duvvuri Subbarao | On 24 Nov 2011

Geographical Agglomeration of Indian and Chinese Multinationals in Europe: A Comparative Analysis (Preliminary version)

The outward FDI from emerging economies to developed countries is of great interest to international business researchers and policy makers, also with regard to their location and sectoral patterns....

by Haiyan Zhang | On 21 Nov 2011

In Search of Growth

With deep crisis weakening potential output growth, the need for an explicit growth policy is emerging most starkly in Japan, the EU and the US. If properly shaped, this will help to consolidate bud...

by Klaus Deutsch | On 21 Nov 2011

Juveniles of Jammu and Kashmir: Unequal Before the Law and Denied Justice in Custody

While the arrests of dozens of juveniles during the mass uprising in the Kashmir valley from June to September 2010 brought the abuse of the Public Safety Act against the children in conflict with the...

by Asian Centre for Human Rights ACHR | On 16 Nov 2011

The Impossible Trinity and Capital Flows in East Asia

The Impossible Trinity doctrine still holds a powerful sway over policymakers, advisors (particularly the International Monetary Fund [IMF]) and academia. In East Asia over the past decade, however,...

by Stephen Grenville | On 15 Nov 2011

Financing Infrastructure for Connectivity: Policy Implications for Asia

This paper discusses Asia’s infrastructure needs and its corresponding financing needs and challenges. It proposes ways to address financing gaps by identifying potential financing sources and instr...

by Biswa Nath Bhattacharyay | On 09 Nov 2011

Monetary Operating Procedures: Principles and the Indian process

As markets deepen and interest elasticities increase it is optimal for emerging markets to shift towards an interest rate instrument since continuing monetization of the economy implies money demand...

by Ashima Goyal | On 04 Nov 2011

The Financial Accelerator: An Emerging Market Story

In support of the financial-accelerator theory, evidence is found on countercyclical price-cost banking margins possibly explaining the amplifications of business cycles in Pakistan. [WP 41]. URL:[ht...

by Shah Hussein | On 03 Nov 2011

Unilateral Carbon Border Measures: Key Legal Issues

Parties to the United Nations Framework Convention on Climate Change (UNFCCC) have been engaged in discussions on the future of the climate change regime. While the principle of “common but differenti...

by Anuradha R. V. | On 01 Nov 2011

The Pricing Problem of Public Transport in Kerala

The mainstay of the public transport system in Kerala is the private stage carriages (PSC), the economics of operation of which is the subject of this paper. The long run sustainability of the secto...

by Narayana D | On 28 Oct 2011

Macro-Economic Policy Outcomes and Agriculture Relation between Fiscal Deficits and Investment in Agriculture

In an earlier paper (Alagh, Munish, 2011) it was shown that macro economics matters in agriculture. The relevance of understanding the impact of macro-economic policy on agriculture was outlined. A...

by Munish Alagh | On 24 Oct 2011

Kakkanadan: the Oracle of Strength in Malayalam

Born on 23rd April, 1935, Kakkanadan, a Malayalam language short story writer and novelist from Kerala state, South India passed away on 19th October 2011. He is often credited with laying the foundat...

by Alex George | On 24 Oct 2011

Report of the Expert Group to Review the Methodology for Estimation of Poverty

There has been a growing concern on the official estimates of poverty released by the Planning commission. The official poverty estimates have been severely criticised on various counts. In view of...

by Planning Commission | On 21 Oct 2011

Gender, Governance and Women’s Rights in South Asia

This study focuses on gender equality and democratic governance in the five largest states of the South Asian region, namely, India, Pakistan, Bangladesh, Sri Lanka and Nepal. Beginning with a general...

by Seema Kazi | On 20 Oct 2011

Recent Global Crisis and the Demand for Gold by Central Banks: An Analytical Perspective

When India purchased 200 tonnes of gold under the International Monetary Fund's limited gold sales programme, it was interpreted inter alia that it may further inflate the gold price when the price...

by Karunagaran A | On 17 Oct 2011

Draft of the Proposed National Sports Legislation

A bill to provide for development of sports in India, coordination of national teams for participation in international events, fair and transparent functioning of autonomous sports bodies and welf...

by Ministry of Youth and Sports Affairs YAS | On 17 Oct 2011

An Empirical Analysis of Monetary and Fiscal Policy Interaction in India

This study analyses the behaviour of monetary and fiscal policies interaction in India using quarterly data for 2000Q2 to 2010Q1. It finds that, even after the elimination of automatic monetisation...

by Janak Raj | On 11 Oct 2011

ASEAN Auto Market Growing in the Shadow of China and India

The automobile industry in the ASEAN countries has expanded rapidly over the last few years. The growth potential of the ASEAN auto market and its now very major absolute importance for the industr...

by Eric Heymann | On 03 Oct 2011

Openness, Economic Growth and Labour Migration in times of Global Downturn: with Special Reference to Asian Examples

This paper starts by examining some of the variables that have been considered important determinants of openness and how views of these have changed over the last twenty years. It then considers th...

by Kenneth E Jackson | On 29 Sep 2011

Global Production Networks in Electronics and Intra-Asian Trade

The growth of East Asia’s intra-regional trade is driven largely by increased component trade within global electronics production networks. Data on both electronics trade and production elucidate a...

by Byron Gangnes | On 29 Sep 2011

Understanding Inflation and Controlling It

Inflation management is one of the hardest tasks an economic policymaker has to undertake. It appears, at first sight, that one can rely entirely on commonsense to carry out this task. But that will b...

by Kaushik Basu | On 28 Sep 2011

Monetary Policy Dilemmas: Some RBI Perspectives

Over the last decade, the profile of central banks has gone up. First, we had the Great Moderation - a period of extraordinary benign macroeconomic environment globally, characterized by steady growth...

by Duvvuri Subbarao | On 27 Sep 2011

National Policy for Senior Citizens: 2011

The foundation of the new policy, known as the “National Policy for Senior Citizens 2011” is based on several factors. These include the demographic explosion among the elderly, the changing economy a...

by Ministry of Social Justice and Empowerment GOI | On 19 Sep 2011

History of Monetary Policy in India since Independence

An SIIO paradigm, based on structure and ideas that become engraved in institutions and affect outcomes, is developed to examine and assesses monetary policy in India after independence. Narrative h...

by Ashima Goyal | On 16 Sep 2011

Opening India’s Garments Sector to South Asia

This paper examines the competitiveness of the Indian garments industry vis-à-vis the other South Asian countries Bangladesh, Pakistan and Sri Lanka. Under the SAFTA agreement, many of the garment i...

by Saon Ray | On 16 Sep 2011

Pakistan: 10 Year Banking Strategy Paper for the Banking Sector Reforms

This paper maps out a strategy for banking sector reforms over the next decade. It is formulated by the State Bank of Pakistan (SBP) and is centered on reforms involving the SBP. But the Banking Secto...

by State Bank of Pakistan SBP | On 15 Sep 2011

Report of the Expert Committee on Licensing New Urban Co-operative Banks

With a view to increasing the coverage of banking services amongst local communities, it was proposed in the Annual Policy Statement for the year 2010-11 to set up a Committee comprising of all stakeh...

by Reserve Bank of India RBI | On 15 Sep 2011

The Role of Macroeconomic Policy in Rebalancing Growth

The aftermath of the global financial crisis of 2007–2009 has called the export-led growth model of Asian economies into question. This paper describes the contribution that macroeconomic policy can m...

by Peter Morgan | On 23 Aug 2011

EU-Asia Free Trade Areas? Economic and Policy Considerations

This paper analyses key aspects of the changing economic relationship between the European Union (EU) and Asia, and explored the potential economic ramifications of deeper EU-Asian economic cooperatio...

by Michael Plummer | On 22 Aug 2011

From Economic Meltdown to Social Crunch – Impact of the Global Economic Recession on Social Capital Building in Developing Countries and What We still Don't Know!

This paper draws on the experiences of the Far East Economic Crisis in 1998 and argues that: (1) the poor depended heavily on bonding social capital during the Crisis, but the crunch-point beyond wh...

by Sam Wong | On 22 Aug 2011

Bond Market Development in Asia: An Empirical Analysis of Major Determinants

This study attempts to identity the major determinants of bond market development in Asian economies, through examining its relationship with selected key financial and economic factors, and to provid...

by Biswa Nath Bhattacharyay | On 10 Aug 2011

Audit Report on XIXth Common Wealth Games 2010

The current audit builds on the recommendations of the Stuy Report of 2009. It covers the period of May 2003 to December 2010 after the conclusion of the Games. It also covers hosting of the Games dev...

by Parliamentary Research Service PRS | On 09 Aug 2011

Global Financial Crisis: Implications for Trade and Industrial Restructuring in India

This study investigates the impact of global crisis shocks on India’s trade and industry. Both panel data modeling and vector autoregression techniques are used to understand the dynamic effects of gl...

by Prabir De | On 22 Jul 2011

Shocks, Economic Growth and the Indian Economy

This paper analyses the impact of domestic and external shocks on the Indian economy. A macro-modelling framework is developed that evaluates the impact of two domestic shocks (rainfall shortfall an...

by B B Bhattacharya | On 15 Jul 2011

Speed of Adjustment and Inflation – Unemployment Tradeoff in Developing Countries – Case of India

This paper estimates the short-run aggregate supply curve for the Indian economy over the period 1950-51 to 2008-09. Methodological improvements in this paper include the technique of estimating adapt...

by Ravindra H Dholakia | On 14 Jul 2011

Improving Reading Skills by Encouraging Children to Read: A Randomized Evaluation of the Sa Aklat Sisikat Reading Program in the Philippines

An evaluation of a program that aims to improve children’s reading skills by providing classes with age‐appropriate reading material and incentivizing children to read through a 31 day readR...

by Ama Baafra Abeberese | On 12 Jul 2011

Mutual Funds and Market Development in India

A brief description of the role of Mutual Funds in money markets and government securities makets are provided. Some of the regulatory issues that arise are discussed. The role of Mutual Funds in fina...

by Subir Gokarn | On 08 Jul 2011

Detection and Forecasting of Islamic Calendar Effects in Time Series Data: Revisited

This paper is an attempt to revisit the pioneering work of Riazuddin and Khan (2002). A complete business cycle has been elapsed (2002-2010) since their study, so there is need to review the results ...

by Syed Kalim Hyder Bukhari | On 05 Jul 2011

India’s Experience in Navigating the Trilemma: Do Capital Controls Help?

Managing capital flows is the key policy challenge for emerging economies like India in the aftermath of the crisis. In contrast to other emerging markets who are levying capital controls, India‘s mac...

by R. Kohli | On 04 Jul 2011

The Effect of Exchange Rate Changes on Trade in East Asia

This paper considers how exchange rates affect East Asian trade. The evidence indicates that exports produced within regional production networks depend on exchange rates throughout the region while l...

by Willem Thorbecke | On 01 Jul 2011

A De Facto Asian-Currency Unit Bloc in East Asia: It Has Been There but We Did Not Look for It

Pegging in a coordinated way to a regional basket currency is considered by many as optimal for east-Asian countries. By contrast, according to existing empirical studies, these countries have most of...

by Eric Girardin | On 29 Jun 2011

The Electric Energy-Water Nexus: Managing the Seasonal Linkages of Fresh Water Use in Energy Sector for Sustainable Future

The fast growing demand for fresh water-coupled with the need to protect the environment has made many areas of India and the rest of the World vulnerable to water shortages for various uses of the ...

by Perini Praveena Sri | On 29 Jun 2011

On Graham’s Theory of Multicountry Multicommodity Trade

Mathematical formulations of Frank D. Graham’s theory of multicountry multicommodity trade have not provided numerical methods for finding the world trade equilibrium. Graham was in possession of su...

by Rajas Parchure | On 27 Jun 2011

Getting to a “Grand Bargain” for Aid Reform: The Basic Framework for U.S. Foreign Assistance

In this paper, the author focuses on understanding why long-term development is often subjugated to other objectives in the day-to-day planning processes of the U.S. government. She proposes one way t...

by Jean Arkedis | On 21 Jun 2011

The Wide Angle: The End of Population Growth

The the population dynamics of the 21st century is shown here.

by Sanjeev Sanyal | On 21 Jun 2011

Frontier Issues on the Global Agenda- Emerging Economy Perspective

The article is a report of RBI Minister Duvvuri Subbarao on issuesing concerning the G-20 countries and also issues effecting all the countries collectively.

by Duvvuri Subbarao | On 13 Jun 2011

Challenges in Implementation of Large-scale IT Projects

Most governments experience problems when implementing large-scale IT projects. Budgets are exceeded, deadlines are over-run and the quality of the infrastructure is often below the agreed standard. T...

by iGovernment. in | On 09 Jun 2011

Captured by Cotton: Exploited Dalit Girls Produce Garments in India for European and US Markets

In this report, the widespread use of the Sumangali Scheme in Tamil Nadu is illustrated by four case studies of such vertically integrated enterprises of which the European and US buyers were identif...

by HAQ Centre for Child Rights HAQCRC | On 08 Jun 2011

The Mobile Communications Services Industry in India: Has it Led to India Becoming a Manufacturing Hub for Telecommunication Equipments

The paper is an analysis of the growth in services leading to the emergence of a manufacturing industry. Although the industry is dominated by MNCs, domestic firms have started making an entry into do...

by Sunil Mani | On 07 Jun 2011

Globalization Crises, Trade, and Development in Vietnam

Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises—the 1997-98 Asian financial crisis and the 2008-09 great...

by Philip Abbott | On 02 Jun 2011

Hong Kong’s Linked Exchange Rate System

Hong Kong has had a linked exchange rate regime of one kind or another for most of its history as a trading and financial centre. In 1863 the Hong Kong Government declared the silver dollar – then a...

by Hong Kong Monetary Authority | On 27 May 2011

Monetary Policy and Credit Demand in India and Some EMEs

Impact of changes in policy rate of interest on demand for bank credit is examined for seven emerging market economies including India for the period 2002 to 2010. Panel data techniques are used after...

by B L Pandit | On 24 May 2011

Trends in Wage Goods Prices and Cost of Living of Casual Workers in Shillong

The present study aims at an investigation into the prices of wage goods and the cost of living of casual wageworkers in Shillong, the capital city of Meghalaya, India. Labourers are defined as a...

by S.K. Mishra | On 16 May 2011

Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities

The limited supply of government securities in some industrial countries has important ramifications for the operating techniques used by central banks to implement monetary policy, provide credit to...

by Mark Zelmer | On 16 May 2011

A Floating versus Managed Exchange Rate Regime in a DSGE Model of India

In this paper the authors first develop a two-bloc model of an emerging open economy interacting with the rest of the world calibrated using Indian and US data. The model features a fina...

by Nicoletta Batini | On 11 May 2011

Socio-economic Exclusion of Different Religious Communities in Meghalaya

Meghalaya is one of the prosperous states in the North Eastern region of India. Before Meghalaya was separated from Assam in the early 1970’s, its leading city, Shillong, was the capital of the er...

by S.K. Mishra | On 10 May 2011

Statement Delivered by Secretary of the Ministry of Finance

This paper presents the Statement Delivered by Mr. Krishna Hari Baskota, Secretary of the Ministry of Finance in the 44th Annual Meeting of the Board of Governors of the Asian Development in the capa...

by Ministry of Finance, Government of Nepal | On 09 May 2011

Book Review: Distance Education: A Growing Sector in Asia

Review of Policy and Practice in Asian Distance Edited by Belawati Tiawati and Baggaley Jon Education, Sage, Publications, India 2010, 260 pages, Rs. 650/-

by Madhu Parhar | On 06 May 2011

How to Measure inflation in India?

What is the best inflation measure in India? What inflation measure is most relevant for monetary policy making in India? Questions of timeliness, weights in the price index, accuracy of food price m...

by Ila Patnaik | On 06 May 2011

Who Cares about the Chinese Yuan?

The rise of China in the world economy and in international trade has raised the possibility of a rise of the Yuan as an international currency, particularly after the Chinese authorities have under...

by Vimal Balasubramaniam | On 05 May 2011

Ethical Concerns in Clinical Trials in India: An Investigation

This report is the product of a journalistic investigation on clinical trials. It set out to identify ethical concerns in clinical trials that were conducted in India and used for approval of new...

by S. Srinivasan | On 04 May 2011

Nepal and the Pax Indianus

In May 2009, the Asian Centre for Human Rights (ACHR) warned of growing threats to sustainable peace in Nepal. Since that time, Nepal’s politics have continued to polarize. Nepal still has two ar...

by Asian Centre for Human Rights | On 04 May 2011

Monetary Policy Statement 2011-12

This Statement sets out the Reserve Bank’s assessment of the current macroeconomic situation and projections. URL:[http://rbidocs.rbi.org.in/rdocs/notification/PDFs/APS030511F.pdf].

by Duvvuri Subbarao | On 03 May 2011

Deregulation of Savings Bank Deposit Interest Rate: A Discussion Paper

The paper is an attempt to deal with pros and cons of deregulating savings deposit interest rate and take on board the suggestions of various stakeholders for either maintaining the status quo or dere...

by Reserve Bank of India RBI | On 02 May 2011

Find Me the Money: Financing Climate and Other Global Public Goods

In this paper, four categories of existing resource-mobilization options are examined, including (1) transportation levies; (2) currency and financial transaction taxes; (3) capitalization of IMF S...

by Nancy Birdsall | On 21 Apr 2011

Did the Indian Capital Controls Work as a Tool of Macroeconomic Policy?

In 2010 and 2011, there has been a fresh wave of interest in cap- ital controls. India is one of the few large countries with a complex system of capital controls, and hence others an opportunity to...

by Ila Patnaik | On 21 Apr 2011

Statement by Governor, RBI

There have been significant developments in the global economy since we met in the fall of 2010. The IMF too has moved on several fronts under its mandate which has strengthened its position in a chan...

by Duvvuri Subbarao | On 20 Apr 2011

Short Duration Migration in India: An Appraisal from Census 2001

This paper tries to focus on the method to assess the magnitude of short/seasonal migration based on its broad characteristics. It attempts to analyse the contrasting characteristics of short durat...

by Vijay Korra | On 18 Apr 2011

Financial Transactions Taxes

This paper attempts to address both theoretical and practical considerations for a tax such as financial transactions taxes (FTT). It includes examples of FTT in the wider context, for example, on sto...

by Parthasarathi Shome | On 18 Apr 2011

Financial Regulatory Harmonization in East Asia: Balancing Domestic and International Pressures for Corporate Governance Reforms

Focusing on corporate governance, which many see as a critical part of the 1997 Asian financial crisis, and which is also seen as unresponsive to calls for change, this paper argues that such harmoniz...

by Richard W Carney | On 12 Apr 2011

Liquidity Considerations in Estimating Implied Volatility

Some option series in the market are far less liquid than others. Market illiquidity can reduce the informativeness of option prices. In this paper, an alternative schemes are proposed to estimate im...

by Rohini Grover | On 09 Apr 2011

Presentation - Managing Foreign Exchange Reserves During and After the Crisis

This presentation was given at the Managing Foreign Exchange Reserves in the Crisis and After Seminar by Robert N. McCauley, which was held in Tokyo, Japan on 15 March 2011. URL: [http://www.adbi.org/...

by Robert N. McCauley | On 06 Apr 2011

Organic Crops or Energy Crops? Options for Rural Development in Cambodia and the Lao People’s Democratic Republic

The agricultural sectors of developing Asian countries are experiencing two important new developments: the growth of organic agriculture (OA) and the increasing use of land to grow energy crops...

by Anil Markandya | On 01 Apr 2011

Budget 2011-12, Delhi

Budget speech by finance minister. URL: [http://delhi.gov.in/wps/wcm/connect/21d1f280463783518436871b84a2a7b0/CM+Speech+-+PRINT.pdf?MOD=AJPERES].

by Government of Delhi | On 30 Mar 2011

Delhi Fails to Protect its Children

Can Delhi really hold its head high when it cannot even protect its own children? URL: [http://www.haqcrc.org/sites/default/files/Delhi%20Fails%20to%20Protect%20its%20Children_BfC%202011-12(2).pdf]

by HAQ Centre for Child Rights HAQCRC | On 30 Mar 2011

Assessing East-Asian Export Performance

For decades until the crisis hit in mid-1997, East Asian economies led the developing world in achieving high rates of economic growth, accomplishing what had come to be known as the East Asian Mira...

by Asian Development Bank Institute | On 30 Mar 2011

Rural Development & Energy Policy: Lessons from Agricultural Mechanisation in South Asia

The purpose of this paper is to reopen policy debates on the role of agricultural mechanisation in rural development. The paper examines very different and diverse patterns of agricultural mechani...

by Stephen Biggs | On 29 Mar 2011

Potential Role in Corporate Governance by Employees of Asian Enterprises

Large publicly-held corporations or business groups in developing Asian economies are typically controlled (and managed) by families, and tend to suffer from poor corporate governance. Even though s...

by Sang-Woo Nam | On 29 Mar 2011

Employees in Asian Enterprises:Their Potential Role in Corporate Governance

Large publicly-held corporations or business groups in developing Asian economies are typically controlled (and managed) by families, and tend to suffer from poor corporate governance. Even though s...

by Sang-Woo Nam | On 24 Mar 2011

Union-Firm Bargaining Under Alternative Pay Schemes: Does Performance Related Pay Fair Better?

This paper compares and contrasts equilibrium outcomes under right-to-manage bargaining (RTM) and efficient bargaining (EB) corresponding to two alternative pay schemes, fixed wage vis-a-vis piece-r...

by Rupayan Pal | On 22 Mar 2011

Social and Economic Policies to Prevent Complex Humanitarian Emergencies Lessons from Experience

In simple language and with numerous concrete examples, this policy brief analyses the impact - among others - of key ex-ante factors such as acute 'horizontal inequality' between social groups in the...

by Jeni Klugman | On 22 Mar 2011

Relationship Banking and Its Role in Corporate Governance

Bank-based systems of corporate governance are certainly an alternative in many Asian economies. In spite of the great efforts directed to strengthening corporate governance along the Anglo- America...

by Sang-Woo Nam | On 18 Mar 2011

Overview of PRC in East Asian Trade

PRC’s economic emergence over the last two decades, and in particular its recent WTO accession initiative, portend a dramatically changed landscape of East Asian trade. This has aroused concern arou...

by David Roland Holst | On 15 Mar 2011

Future Role of Foreign Banks in Asia

Although the Asian Crisis has brought consensus on the necessity of strong domestic financial systems, there is less agreement as to the role of foreign banks in achieving the goals of economic grow...

by Heather Montgomery | On 10 Mar 2011

Survey of Corporate Governance Practices in Indonesia, Thailand and Korea

Poor corporate governance is viewed as one of the structural weaknesses responsible for the outbreak of the Asian crisis in late 1997. Controlling family owners could pursue private interests with r...

by Sang-Woo Nam | On 09 Mar 2011

Budget for Gender Equity

The budgetary policy of the Government has a major role to play in achieving objectives of gender equality and growth through content and direction of Fiscal and Monetary Policies, measures for r...

by Government of India Ministry of Women and Child Development | On 08 Mar 2011

Budget 2011-2012

Budget speech 2011-2012 by Pranab Mukherjee.

by Pranab Mukherjee | On 01 Mar 2011

Economic Survey, 2010-11, Chapter 1

State of the Economy and prospects. URL:[http://www.indiabudget.nic.in/es2010-11/echap-01.pdf].

by Ministry of Finance | On 28 Feb 2011

Central Bank Lessons from the Global Crisis

Nine preliminary lessons from the Great Recession for monetary and financial policies are presented. [3rd P. R. Brahmananda Memorial Lecture].

by Stanley Fischer | On 18 Feb 2011

South Asian Integration Prospects and Lessons from East Asia

In the context of the low levels of regional cooperation among South Asian countries when compared with the successful results from cooperation in East Asia (consisting of South East and East Asian...

by Ramesh Chandra | On 18 Feb 2011

Development in North East People’s Republic of China

Since the government announced the Revitalise the North East policy in 2002 there has been a new focus to regional policy following on from the previous, but continuing, Develop the West policy. For...

by John Weiss | On 17 Feb 2011

Evolving Regional Financial Architecture in East Asia

Ten years have passed since the Asian financial crisis that devastated not only the currency values and the financial systems of Indonesia, the Republic of Korea, Malaysia, and Thailand, but also t...

by Masahiro Kawai | On 16 Feb 2011

Indian Economy: Selected Methodological Advances

This paper develops tools to examine selected major issues in the Indian economy. The study computes the potential growth rate of the economy and the agricultural sector, extends the analysis of fisca...

by Mathew Joseph | On 11 Feb 2011

Key Principles Underlying the New Modes of Aid Governance in Asia

Based on the recent experience of several Asian developing countries and interviews in Vietnam, Indonesia and Laos with aid practitioners from donor institutions and Non Government Organizations (NGOs...

by Caroline Brassard | On 10 Feb 2011

Games the State Plays: A Follow-up Report on the Violations of Workers’ Rights in Commonwealth Games Related Construction Sites

The Commonwealth Games have been an eye opener in several ways. Behind the glitz of fancy stadiums, hotels, and apartments, lies the murky and sensitive death knell of a large majority of people whose...

by People's Union for Democratic Rights PUDR | On 10 Feb 2011

India’s Fiscal and Monetary Framework: Growth in An Opening Economy

Since a crisis is a shock impinging on a system, the response can be used to deduce aspects of the system’s structure. Analysis of the crisis and recovery suggests aggregate supply in India is elasti...

by Ashima Goyal | On 01 Feb 2011

Third Quarter Review of Monetary Policy 2010-11

This statement sets out the Reserve Bank’s assessment of the current macroeconomic situation and forward projections.

by D Subbarao | On 31 Jan 2011

Women's Movements Engagement With the Law: Existing Contradictions and Emerging Challenges

Through over a century-long history, the women’s movement in India has been engaged with law as an instrument with which to negotiate women’s rights. To a great extent this strategy has been successf...

by Centre for Women's Development Studies | On 31 Jan 2011

Singapore's Exchange Rate-Based Monetary Policy: A Critical Evaluation

The exchange rate-based monetary policy followed by the Monetary Authority of Singapore (MAS) is outlined. Possible theoretical frameworks, including a reaction function is outlined. The way the MAS h...

by Partha Sen | On 31 Jan 2011

Poverty Eradication / Alleviation in North East India : An Approach

The NEC Shillong has assigned the National Institute of Rural Development, North Eastern Regional Centre (NIRD-NERC), Guwahati to prepare a report on “Poverty Eradication in the North Eastern Region...

by Ministry for Development of the North East (DONER) | On 28 Jan 2011

Cost-benefit Analysis of CFPR

This paper presents a cost-benefit analysis of the first cohort (2002-03) of selected ultra poor (SUP) households of BRAC’s CFPR. The analysis calculates benefit of the programme using primary data...

by Sanjay Sinha | On 20 Jan 2011

Income-based Measures of Average Well-being

International comparisons of average national incomes omit important information about leisure, home production, health, etc. They are also bedevilled by index number problems. This paper suggests...

by Steve Dowrick | On 17 Jan 2011

Globalization and the Urban Poor

The focus of this paper is the effect of contemporary globalization on poverty and inequality in cities of the ‘global south’. Specifically it addresses the impact of globalization on marginalize...

by Janice E. Perlman | On 13 Jan 2011

Evolution of India’s Exchange Rate Regime

The paper analyzes the changing INR trends over the reform period, in the context of fundamental determinants of exchange rates. [WP-2010-024].

by Ashima Goyal | On 13 Jan 2011

Understanding Alternative Dispute Resolution for the Rural Women in Bangladesh: Some Illustrations from BRAC HRLS Programme

During the last decade, Alternative Disputes Resolution (ADR) gained enormous currency in rural development arena as an informal justice institution in Bangladesh and BRAC’s HRLS Programme has contr...

by Debasish Kumar Kundu | On 11 Jan 2011

Ethnic Minority Poverty in Vietnam

The paper examines various aspects of development of minority in Vietnam.

by Bob Baulch | On 07 Jan 2011

What Accounts for China’sTrade Balance Dynamics?

This paper proposes a structural VAR model which extends the frameworks of Hoffmaister and Roldós (2001) and Prasad (1999). The model is then used to analyse the sources of China’s trade balance flu...

by Yin Zhang | On 07 Jan 2011

Monetary Policy, Capital Flows, and the Exchange Rate

The use of monetary policy in India has been constrained by a loose fiscal policy and capital flows. Capital inflows have the potential to cause a Dutch Disease-type situation. The RBI has carried out...

by Partha Sen | On 06 Jan 2011

Monetary Policy Considerations after the Crisis: Practitioners’ Perspectives

Economic stability can be seen as an essential component of any strategy for inclusive development. To the extent that central banks play a role in providing that stability, the experience of the cris...

by Subir Gokarn | On 21 Dec 2010

Group-Oriented Values, Rules and Cooperation

This paper uses a game-theoretic framework to explain how collectivist values hamper societies’ efforts to elicit cooperation in inter-group games of prisoners’ dilemma (PD) and draws on the resul...

by Ke-young Chu | On 15 Dec 2010

Does Exporting Raise Productivity? Evidence from Korean Microdata

This paper explores a plausible channel through which exporting could have made both a substantial and a persistent contribution to export-oriented economic growth in Korea and by extension other East...

by Sanghoon Ahn | On 10 Dec 2010

Technology and Indonesia’s Industrial Competitiveness

This paper will discuss the major factors, which affect Indonesia’s industrial competitiveness, specifically the determinants of its industrial technology development, which is crucial to raising Indo...

by Thee Kian Wie | On 09 Dec 2010

At Different Speeds: Policy Complementarities and the Recovery from the Asian Crisis

This paper begins with a short review and discussion of the literature on policy complementarities and their implications in terms of (sustainable) growth strategies and the possible emergence of a ne...

by Bruno Rocha | On 09 Dec 2010

Agribusiness in South Asia: A Fact Sheet

Agribusiness is the single largest sector of the economy in many developing countries and is growing fast. The present paper examines the situation of agribusiness in different countries of South Asia...

by Sukhpal Singh | On 09 Dec 2010

Asian Century: A Comparative Analysis of Growth in China, India and other Asian Economies

The paper argues that if the Chinese economy had failed, mainstream economics would have described this as completely predictable, given the extent and nature of involvement of the Chinese state in th...

by Kaushik Basu | On 06 Dec 2010

Free Trade Agreement between People’s Republic of China and India: Likely Impact and Its Implications to Asian Economic Community

Open regionalism and trade cooperation between the world’s two largest developing countries, the People’s Republic of China (PRC) and India, can foster outward-oriented development and intra-regio...

by Swapan K. Bhattacharya | On 06 Dec 2010

Thailand’s Commercial Banks’ Role in Financing Dams in Laos and the Case for Sustainable Banking

This paper puts forward the case for Thailand’s commercial banks to move towards more sustainable banking practices that proactively contribute towards socially and environmentally sustainable and j...

by Carl Middleton | On 25 Nov 2010

Total Factor Productivity Growth and Its Decomposition: An Assessment of the Indian Banking Sector in the True Liberalised Era

Assessments of the performance of Indian commercial banks are not new in the literature. However, most of the earlier studies consider relatively partial measures such as technical efficiency of the...

by Anup Kumar Bhandari | On 17 Nov 2010

Measurement and Explanation of Inequality in Health and Health Care in Low-Income Settings

This paper describes approaches to the measurement and explanation of income-related inequality and inequity in health care financing, health care utilization and health and considers the applicab...

by Eddy van Doorslaer | On 16 Nov 2010

A Social Cost Approach to Choice at Technology in Building Construction

This pager is an attempt to apply the technique of social cost-benefit analysis to the problem of choice of technology in building construction in Kerala. [Working Paper No. 030]

by K. P. Kannan | On 10 Nov 2010

The Asian Development Bank Loan for Kerala (India): The Adverse Implications and Search for Alternatives

The privileging of internal resources over external finance is not only the most democratic but also the most politically desirable option. The implications of the ADB loan for Kerala is situated ag...

by K. Ravi Raman | On 09 Nov 2010

Monetary Policy Strategies in the Asia and Pacific Region: What Way Forward?

Monetary policy frameworks in the Asia and Pacific region have performed well in the past decade as judged by inflation outcomes. We argue that this is due to three principal factors: (i) central bank...

by Andrew Filardo | On 08 Nov 2010

Korea’s Unemployment Insurance in the 1998 Asian Financial Crisis and Adjustments in the 2008 Global Financial Crisis

This paper analyzes the impacts of the 1998 and 2008 financial crises on the Korean labor market. They study the historical background of the Korean Employment Insurance System and the change of labor...

by Sung Teak Kim | On 04 Nov 2010

The Yuan’s Exchange Rates and Pass-through Effects on the Prices of Japanese and US Imports

This paper estimated the pass-through effects of yuan’s exchange rates on prices of the US and Japanese imports from the People’s Republic of China (PRC). Empirical results show that, a 1% nominal app...

by Yuqing Xing | On 04 Nov 2010

Say No!

So, should Delhi bid for the Olympics? Certainly not, if we are to have a repeat of how the Commonwealth Games (CWG) were organised; and of course not, if we are going to try and compete with Beijing...

by T.N. Ninan | On 03 Nov 2010

Incarnating into Cross-Cultural Values: An Effective way to Deliver Experiences

The present paper examines the cultural orientation of foreign students who secured admission in Osmania University (Andhra Pradesh, India) in terms of time orientation and event orientation, dichot...

by S. V. Satyanarayana | On 03 Nov 2010

Rebalancing Growth in the Republic of Korea

The current account surplus of the Republic of Korea (henceforth Korea) increased significantly in the immediate recovery period after the 1997–1998 Asian financial crisis. Since then the surplus has...

by Joonkyung Ha | On 03 Nov 2010

Macroeconomic Impacts of Foreign Exchange Reserve Accumulation: Theory and International Evidence

Recently, a dramatic accumulation in foreign exchange reserves has been widely observed in developing countries. This paper explores the possible long-run impacts of this trend on macroeconomic variab...

by Shin-ichi Fukuda | On 01 Nov 2010

Asset Market Structures and Monetary Policy in a Small Open Economy

This paper sets up a canonical new Keynesian small open economy model with nominal price rigidities to explore the impact of habit persistence and exchange rate pass-through on the welfare ranking of...

by Yongseung Jung | On 01 Nov 2010

Impact of Remittances on Poverty in Developing Countries

Remittances are increasingly becoming an important source of external financing for the developing countries. For some of the developing countries, it forms almost 40-50% of their GDP. Though there is...

by Rashmi Banga | On 29 Oct 2010

Integration of India’s Financial Markets on the Domestic and International Fronts: An Emperical Analysis of the Post-Liberalisation Period. June 2010

Against the backdrop of financial liberalisation, this paper examines India’s financial integration, both on the domestic and international fronts. Preliminary analysis of the secondary data shows ...

by Gargi Sanati | On 29 Oct 2010

ASEAN Open Skies and the Implications for Airport Development Strategy in Malaysia

“Open Skies,” in general, refers to the liberalization of aviation markets that can be pursued on a bilateral, regional, or multilateral basis. At the Association of Southeast Asian Nations (ASEAN)...

by Siew Yean Tham | On 29 Oct 2010

Asia’s Infrastructure Challenges: Issues of Institutional Capacity

The Asian region has experienced substantial growth over the past several decades. Indeed, a quarter of all world exports now come from East Asia. Strong infrastructure underpinnings have often been...

by Susan Stone | On 28 Oct 2010

Global Determinants of Stress and Risk in Public-Private Partnerships (PPP) in Infrastructure

This study analyzes the determinants of stress in public-private partnerships (PPPs) in infrastructure investment. While project failures seldom occur, there are many stresses that hinder success. O...

by Renato E. Reside, Jr. | On 27 Oct 2010

Malaysia and the Global Crisis: Impact, Response, and Rebalancing Strategies

The economic crisis that began in the United States had an effect on the developed world, including the European Union, Japan, and Singapore. The downturn of the economy in the United States, coupled...

by Shankaran Nambiar | On 26 Oct 2010

Reform of the International Financial Architecture: An Asian Perspective

It has taken two crises—the Asian financial crisis of 1997-1998 and the global financial crisis of 2007-2009—for the international community to seriously focus on the reform of the international finan...

by Masahiro Kawai | On 23 Oct 2010

Snafu

For all one knows, the Commonwealth Games may go off without a hitch. How much that will repair the damage already done to Brand India is a matter of guesswork. All that can be said just now is that i...

by T.N. Ninan | On 18 Oct 2010

Impacts of the Global Financial Crisis on Small and Medium Enterprises in the People’s Republic of China

This paper conducts an in-depth analysis of the impacts of the global financial crisis on the People’s Republic of China’s (PRC’s) small and medium enterprises (SMEs). It also provides relevant policy...

by Xiangfeng Liu | On 15 Oct 2010

Liberalization of Capital Inflows and the Real Exchange Rate in India: A VAR Analysis

The East Asian crisis of 1997-98 and the Mexican crisis of 1994 generated much concern among policy analysts regarding the role of macroeconomic policies in the management of capital inflows. A seri...

by Indrani Chakraborty | On 14 Oct 2010

Developing Asian Local Currency Bond Markets: Why and How?

This paper examines the motivation for, and the success of, regional efforts in Asia to promote local currency bond markets. The analysis demonstrates that Asian local currency bond markets made sub...

by Mark M. Spiegel | On 14 Oct 2010

On Some Monetarist Arithmetic

The paper improves upon the original Sargent-Wallace (SW) version which had to resort to numerical simulations to prove this point It is also shown that incorporating the Mundeil-Tobin and Darby-Tanzi...

by M J Manohar Rao | On 13 Oct 2010

Financial Crisis, Trade Finance, and SMEs: Case of Central Asia

This paper surveys studies of the importance of Central Asian small- and medium-sized enterprises (SME) in the economy and their experience during the Russian financial crisis. It also uses survey dat...

by Gloria O. Pasadilla | On 13 Oct 2010

The Financial Crisis: A Wake-Up Call for Strengthening Regional Monitoring of Financial Markets and Regional Coordination of Financial Sector Policies?

How much can regional monitoring of financial markets and coordination of financial sector policies contribute to preventing and mitigating financial crises? This paper reviews and compares the experi...

by Adalbert Winkler | On 13 Oct 2010

The Role of State Intervention in the Financial Sector: Crisis Prevention, Containment, and Resolution

This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises...

by Yoon Je Cho | On 12 Oct 2010

Applying the Lessons of Asia: The IMF’s Crisis Management Strategy in 2008

The paper examines the recent European crisis management programs of the International Monetary Fund (IMF) to see how the lessons of Asia were applied. Compared to the Asian programs of 1997, the Euro...

by Shinji Takagi | On 11 Oct 2010

Trade and Investment Policies and Regional Economic Integration in East Asia

The global economic crisis has affected the East Asian economies via trade and investment. The export-led model which had been responsible for the “East Asian Miracle” now must redirect the basis of g...

by Siow Yue Chia | On 08 Oct 2010

Asian Property Markets: No Significant Bubbles-Yet!

After house price bubbles burst in many OECD countries, investors are keeping a very watchful eye for price developments on asset markets that signal a bubble.

by Steffen Dyck | On 08 Oct 2010

Fiscal Policy Coordination in Asia: East Asian Infrastructure Investment Fund

East Asian countries were seriously affected by the 2008 global crisis through a steep fall in exports. This experience exposed the vulnerability of the East Asian growth model and emphasized the impo...

by Mahani Zainal Abidin | On 05 Oct 2010

Asia’s Role in the Global Financial Architecture

The global economic and financial landscape has been transformed over the past decade by the growing economic size and financial power of emerging economies. The new G20 summit process, which includes...

by Masahiro Kawai | On 05 Oct 2010

In the Name of National Pride:Blatant Violation of Workers'Rights at CWG Construction sites

On 14 December 2008, a worker died in an accident at the same site. What followed was unprecedented: workers at the site struck work and demanded that his body be released and shown to, them. They als...

by People's Union for Democratic Rights PUDR | On 01 Oct 2010

Games the State Plays: A Follow–up Report on the Violations of Workers' Rights in CWG-related Construction Sites

For the last few years , a massive amount of construction work has been going on in various parts of Delhi for the Commonwealth Games (CWG) to be held in October this year. PUDR tried to conduct a fac...

by People's Union for Democratic Rights PUDR | On 01 Oct 2010

Trends in National and Regional Investors Financing Crossborder Infrastructure Projects in Asia

This study examines a range of crossborder infrastructure development issues related to the Asian countries. Despite active pursuit of private investment in infrastructure by most developing count...

by Prabir De | On 01 Oct 2010

Asian Tigers’ Choices: An Overview

This paper considers the choices facing the Asian tiger economies regarding growth strategies that foster trans-Pacific rebalancing. A review of historical data spanning 2000 to 2008 reveals only...

by Hwee Kwan Chow | On 30 Sep 2010

Sustainable Economic Growth for India: An Exercise in Macroeconomic Scenario Building

Use of Macroeconometric models has by now assumed a measure of universality as an unavoidable aid to forecasting and policy analysis; challenges and controversies spread over more than two decades n...

by V. Pandit | On 29 Sep 2010

Macro-prudential Approach to Regulation - Scope and Issues

It is being acknowledged that a macro prudential perspective is critical in designing and pursuing micro prudential regulation of institutions and markets. Two distinct but highly inter-related constr...

by Shyamala Gopinath | On 28 Sep 2010

Promoting Learning and Industrial Upgrading in ASEAN Countries

This paper traces the effects of the “East Asian Miracle,” the 1997–1998 Asian Crisis, the recovery, and the 2008–2009 global financial crisis on ASEAN countries. It also considers how ASEAN countries...

by Willem Thorbecke | On 28 Sep 2010

India in the Global and Regional Trade: Determinants of Aggregate and Bilateral Trade Flows and Firms’ Decision to Export

This paper contributes to two strands of literature on empirical models of trade flows and trade policy. The first and the older strand is that of gravity models of bilateral trade flows going back...

by T.N. Srinivasan | On 20 Sep 2010

Impact of Remittances on Poverty in Developing Countries

This study undertakes impact analysis of remittances on poverty in developing countries at two levels. Firstly, it estimates the impact of remittances on poverty in 77 developing countries; Secondly,...

by Rashmi Banga | On 17 Sep 2010

Koizumi's Vision of a New Japan

The undersecretary of the Liberal Democratic Party of Japan describes and discusses Koizumi's vision of Japan.

by Nobutaka Machimura | On 13 Sep 2010

Seasonality and Wage-responsiveness in Nonclearing Labour Markets: Evidence from Indian Agriculture

Labour income is often a major source of income not only for landless rural households but also for the 'small' farmers in Asian agriculture. Fluctuations in labour income can be quite marked, owing t...

by Sunil Kanwar | On 10 Sep 2010

Measurement of Inflation in India: Issues and Associated Challenges for the Conduct of Monetary Policy

In India, there is a large divergence between CPI and WPI inflation trends in the past, wide dispersion in inflation across commodity groups within WPI, and significant volatility in headline WPI in...

by Nadhanael G V | On 08 Sep 2010

European Union Foreign Policy And the Challenges of Globalisation

The European Union is a profoundly political project and one which has attempted to achieve important political goals through economic means. Initially through the establishment of a coal and steel ...

by Christopher F. Patten | On 07 Sep 2010

Inspector Raj for Garment Export Business

The export of textiles from India accounts for about one-third of India’s total exports. What is more significant is that textiles as a group, is also the largest net foreign exchange earner in as...

by Avih Rastogi | On 01 Sep 2010

The Potato’s Contribution to Population and Urbanization: Evidence from an Historical Experiment

In this paper regional variation in suitability for cultivating potatoes, together with time variation arising from their introduction to the Old World from the Americas is being exploited, to estim...

by Nathan Nunn | On 26 Aug 2010

Informal Trade in the SAARC region

This paper explores issues relating to informal trade in the SAARC region. It spells out the reasons underpinning illegal trade in the South Asian region. Further it focuses on the estimated size an...

by Nisha Taneja | On 10 Aug 2010

Chinese Mercantilism: Currency Wars and How the East was Lost

The world changed on July 2, 1997 when Thailand floated the baht. Explanations abound on the origins of the crisis - indeed it is a growth industry. This study is part of that explosion. It has seve...

by Surjit S. Bhalla | On 10 Aug 2010

Earth Tube Heat Exchangers for Environmental Control of Farm Buildings in Semi-arid Northwest India

This paper presents the experience of using systems such as Earth Tube Heat Exchangers for environmental control in dwellings of zoo animals, and greenhouse in arid area of Kutch. Mention has also bee...

by Girja Sharan | On 04 Aug 2010

FDI and Human Capital Development

This paper explains importance of human capital skilling, the relation between the FDI and Human Capital development besides the experiences of these two in different regions of the world i.e., Asian...

by P. Srinivas Subbarao | On 04 Aug 2010

Asia and the IMF

This lecture series begins with a discussion of the reforms that have undertaken in the IMF since the mid-1990s, and particularly since the start of the Asian economic crisis. It concludes with a disc...

by Stanley Fischer | On 04 Aug 2010

1951 redux

A sports extravaganza is supposed to be a “coming out” party for the host country. Tokyo hosted the Olympic Games in 1964, timing it with the introduction of that new wonder of the world, the Shinkans...

by T.N. Ninan | On 03 Aug 2010

Exchange Rate Arrangements For East Asia Post-Crisis: Examining The Case For Open Economy Inflation Targeting

The infeasibility of a monetary union for East Asia in the near future, as well as the limitations of other forms of super fixes, appears to leave a flexible regime as the only viable policy option....

by Tony Cavoli | On 30 Jul 2010

European Views on Asia and Europe-Asian Relations

This paper examines in its first part, the views of leading European academics, politicians, lobbyists and opinion-makers on the issue of relations with Asia. The second part of this paper looks at...

by Venil Ramiah | On 29 Jul 2010

The Japanese Economy and Economic Policy in Light of the East Asian Financial Crisis

The depth and breadth of the East Asian financial crisis has added a sense of acute urgency for some concrete and credible measures by policy-makers to revitalise the Japanese economy. While steps...

by Ramkishen Rajan | On 23 Jul 2010

Regional Responses To The Southeast Asian Economic Crisis: A Case Of Self-Help Or No Help?

The currency crises of the 1990s, particularly the one that hit Southeast Asia since the devaluation of the Thai baht on July 2, 1997, are suggestive of the relevance and pervasiveness of contagion...

by Chang Li Lin | On 21 Jul 2010

Environmental Control in Greenhouse and Animal Houses with Earth-Tube-Heat-Exchangers in Hot Semi-arid North-West India

This paper explores the process of Environmental Control in Greenhouse and Animal Houses with Earth-Tube-Heat-Exchangers in hot semi-arid north-west India. [Working Paper No. 2009-11-04]

by Girja Sharan | On 20 Jul 2010

Examining The Case For Reserve Pooling In East Asia: Empirical Analysis

Two features of East Asia’s recovery from the financial turmoil of 1997- 98 appear to be rather paradoxical. First, the regional economies (except Hong Kong, China and Malaysia) have allowed a relat...

by Ramkishen S. Rajan | On 20 Jul 2010

Cutting the costs of attrition: Results from the Indonesia Family Life Survey

Attrition is the Achilles heel of longitudinal surveys. Drawing on our experience in the Indonesia Family Life Survey, we describe survey design and field strategies that contributed to minimizing a...

by Duncan Thomas | On 13 Jul 2010

Institutions for Asian Connectivity

To make Asia more economically sustainable and resilient against external shocks, regional economies need to be rebalanced toward regional demand- and trade-driven growth through increased regional co...

by Biswa N Bhattacharyay | On 09 Jul 2010

How Would an Appreciation of the Yuan Affect the People's Republic of China's Surplus in Processing Trade?

Enormous trade surpluses are problematic for the People’s Republic of China (PRC) and the rest of the world. They primarily stem from processing trade. This paper investigates how exchange rate ch...

by Willem Thorbecke | On 30 Jun 2010

NAMA Tariff Negotiations: What Are South Asia's Best Options?

This paper looks at the possible impact of ongoing tariff negotiations on South Asian countries, namely Bangladesh, India, Nepal, Pakistan and Sri Lanka, at an aggregate level or at the Multilateral T...

by Prabhash Ranjan | On 21 Jun 2010

The Exchange Rate Regime in Asia: From Crisis to Crisis

Prior to the Asian financial crisis, most Asian exchange rates were de facto pegged to the US Dollar. In the crisis, many economies experienced a brief period of extreme flexibility. A `fear of float...

by Ila Patnaik | On 18 Jun 2010

Exchange Rate Regimes and Macroeconomic Performance in South Asia

Stylized facts for South Asia show the dominance of supply shocks, amplified by macroeconomic policies and procyclical current accounts. Interest and exchange rate volatility rose initially on libera...

by Ashima Goyal | On 09 Jun 2010

Affordability to Finance Poverty Reduction Programmes

This paper addresses the question of affordability to finance poverty reduction programs in a dynamic context. In doing so, it stresses the need for approaching the problem from a human rights perspec...

by Omar Haider Chowdhury | On 04 Jun 2010

OTC Derivatives Market in India: Recent Regulatory Initiatives and Open Issues for Market Stability and Development

The paper seeks to prove the point that the Indian OTC derivatives markets, unlike many other jurisdictions, are well regulated. Only contracts where one party to the contract is an RBI regulated e...

by Dayanand Arora | On 03 May 2010

Commonwealth Games 2010: Displacement of Persons

This research paper analyses Government policy with regard to Jhuggi-Jhopri clusters- a particular type of housing present in Delhi. These colonies are perceived to be illegal by the Government. Wit...

by Eshaan Puri | On 13 Apr 2010

Implementation of Monetary Policy in India

How does the Reserve Bank of India implement monetary policy? The objectives and framework of monetary policy, as they have evolved, the operational aspects of monetary policy have been discussed. Th...

by Deepak Mohanty | On 08 Apr 2010

The EU India FTA in Agriculture and Likely Impact on Indian Women

This study attempts to provide an analysis of the gender concerns of the proposed EU India FTA in the field of agriculture and suggest policy changes both in the FTA text as well as in domestic poli...

by Roopam Singh | On 08 Apr 2010

The Impact of the Commonwealth Games 2010 on Urban Development of Delhi -An Analysis with a Historical Perspective from Worldwide Experiences and the 1982 Asian Games

The paper raises some hard questions that need to be answered before one can conclude that events such as Common Wealth Games has a positive effect on the host community. Can the financial requirement...

by Vinayak Uppal | On 23 Mar 2010

The Social Significance of Sports

The sociology of sport has a history of academic marginalisation: for being a sociological study of an activity prioritised for its physical, rather than socio-cultural attributes; and for being a stu...

by Elizabeth C.J. Pike | On 21 Feb 2010

The Current Trade Paradigm and Women's Health Concerns in India: With Special Reference to the Proposed EU-India Free Trade Agreement

India is currently negotiating a Free Trade Agreement with the European Union, which includes not only liberalization of commodity trading, but also a wide range of chapters including deep services ...

by Ranja Sengupta | On 17 Feb 2010

Factor Employment, Sources and Sustainability of Output Growth: Analysis of Indian Manufacturing

The manufacturing sector in India is crucial for two main reasons: It has significant potential to provide modern employment to a growing labour force, especially that of less skilled type and second...

by Arvind Virmani | On 09 Feb 2010

Climate Sensitivity of Indian Agriculture Do Spatial Effects Matter?

Climate change impact studies on agriculture can be broadly divided into those that employ agro-economic approaches and those that employ the Ricardian approach. This study uses the Ricardian approa...

by K S Kavi Kumar | On 05 Feb 2010

Asia Confronts the Impossible Trinity

Capital account openness and exchange rate flexibility in 11 Asian countries are examined. Asia has made slow progress on de jure capital account openness, but has made much more progress on de facto...

by Ila Patnaik | On 04 Feb 2010

Exchange Market Pressure and Monetary Policy

The objective of this study is to examine empirically the impact of monetary policy on exchange market pressure (EMP) in Bangladesh. EMP is measured as the sum of percentage change of international re...

by Sayera Younus | On 29 Jan 2010

Third Quarter Review of Monetary Policy 2009-10

The Reserve Bank has pursued an accommodative monetary policy beginning mid-September 2008 in order to mitigate the adverse impact of the global financial crisis on the Indian economy. The measures ta...

by D Subbarao | On 29 Jan 2010

Towards A Competitive Economy: VAT and Customs Duty Reform

In this paper the issue of indirect tax reform, with a special focus on customs duty reform is examined. [WP]

by Arvind Virmani | On 28 Jan 2010

Where Are India’s International Reserves Invested?

Most standard indicators suggest that India’s reserve stock is more than adequate. The rapid stockpiling of foreign exchange reserves implies that the RBI has been leaning-against-the-wind to keep dow...

by Ramkishen S. Rajan | On 25 Jan 2010

Measures of Inflation in India: Issues and Perspectives

A review of the various primary measures of inflation with a particular reference to the divergence between WPI and CPI. Focus is also given on different secondary (derived) measures of inflation, par...

by Deepak Mohanty | On 21 Jan 2010

Japan’s Foreign Direct Investment Experiences in India: Lessons Learnt from Firm Level Surveys

The paper first gives a brief history and comparison of Japanese foreign direct investment into India and other Asian countries, highlighting the fact that Japanese investment into India is quite lo...

by Srabani Roy Choudhury | On 19 Jan 2010

Harvesting Rainwater: Catch Water Where it Falls!

The paper is a analysis of the rainwater harvesting system in context of Delhi which is suffering from acute water problems.

by Arjun Bhattacharya | On 22 Dec 2009

Climate Change and India-Some Major Issues and Policy Implications

The paper examines the genesis of Climate Change which has been referred to as the defining human development issue of our generation. Also studied is the impact of this problem in the global as well...

by H A C Prasad | On 01 Dec 2009

The Difficulties of the Chinese and Indian Exchange Rate Regimes

China and India have both attempted distorting the exchange rate in order to foster exports-led growth. This is described as the Bretton Woods II framework, where developing countries buy bonds in the...

by Ila Patnaik | On 30 Nov 2009

Agricultural Subsidies and Negotiations: Strategies and Options

The paper points out that some provisions of the framework will allow developed countries to maintain and, in some cases, even increase domestic farm support and still remain WTO-compliant. In most ca...

by Parthapratim Pal | On 25 Nov 2009

Can Public Private Partnership reduce Maternal Mortality? Assessing Efforts Made by the ‘Chiranjeevi’ Scheme in Gujarat

The Chiranjeevi Yojna is considered to be a successful PPP model and has also received a prestigious Asian Innovations Award by the Wall Street Journal. It is a flagship scheme of the Gujarat state mi...

by Akash Acharya | On 13 Nov 2009

Philosophy and Practice of Financial Sector Regulation – Space for Unorthodoxy

Evolution of the financial sector regulation in India, particularly focusing on the elements of the policy framework which have contributed to the broader stability in the financial sector is depicted...

by Shyamala Gopinath | On 05 Nov 2009

Green Technologies Related to Refrigeration and Air Conditioning

This paper presents some such case studies for co-and tri-generating various cold and hot utilities using innovative designs of Matrix and Tube-Tube Heat Exchangers and Multi-Utility Heat Pumps develo...

by Rane M V | On 27 Oct 2009

Learning from Crises

Recollect and recount lessons from crises. The key lessons are how to anticipate and take pre-emptive action and equally important, once you are in the middle of it, how to respond effectively namely,...

by Usha Thorat | On 22 Oct 2009

Warming to Hope

Did you know that there has been no warming of the globe over the past decade?

by T.N. Ninan | On 16 Oct 2009

Emerging Market Concerns: An Indian Perspective

From the perspective of Emerging Market Economies (EMEs) and particularly for that of India, five concerns are expressed. These are: first, timing of exit from the accommodative monetary policy in the...

by D Subbarao | On 15 Oct 2009

How Sapient is Homo Economicus? The Evolutionary Origins of Trade, Ethics and Economic Rationality

The paper argues that economism and, in particular, the individual drive to maximize utility and amass profit are not enough to ensure the efficient functioning of an economy; and that even for elemen...

by Kaushik Basu | On 09 Oct 2009

Emerging Asia's Middle Class-A Force to be Reckoned With

The emergence of a large and dynamic middle class raises Asia’s profile as an attractive market destination for products ranging from consumer goods to financial services. There are even hopes that th...

by Steffen Dyck | On 06 Oct 2009

A Social Cost Approach to Choice at Technology in Building Construction: A Study of Some Alternative Technologies in Kerala

This paper is an attempt to apply the technique of social cost - benefit analysis to the problem of choice of technology in building construction in Kerala. [WP No. 30].

by K P Kannan | On 21 Sep 2009

Monetary Policy, Forex Markets and Feedback Under Uncertainity in an Opening Economy

Options for monetary policy arising from interactions between it and Indian foreign exchange (FX) markets. A brief survey covers recent rapid changes providing a snapshot of current microstructure, ...

by Ashima Goyal | On 14 Sep 2009

What Is the Impact of the Global Financial Crisis on the Banking System in East Asia?

This paper assesses the condition and outlook of the financial sectors—in particular, the banking sector—in the East Asia region in the aftermath of the current global financial crisis. The risks in t...

by Michael Pomerleano | On 07 Sep 2009

Restoring the Asian Silk Route: Toward an Integrated Asia

Lack of full regional connectivity is one of the major constraints hindering regional growth and integration in Asia, as well as with the rest of the world. One of the conclusions of this paper is tha...

by Biswa N Bhattacharyay | On 11 Aug 2009

Assets and Poverty Traps in Rural Bangladesh

This paper applies Carter and Barrett’s theory of assets poverty traps to a unique longitudinal survey from rural Bangladesh. Non-parametric and parametric methods are used to examine the shape of the...

by Agnes Quisumbing | On 06 Aug 2009

A Model of Market Clearing Exchange Rates

This paper formulates a model of exchange rate determination that describes the market processes by which the foreign exchange markets are cleared and international receipts of countries are brought...

by Rajas Parchure | On 06 Aug 2009

Unravelling Khulna Jessore Drainage Project

An analysis of the Asian Development Bank-funded Khulna Jessore Drainage Rehabilitation Project by the Bangladeshi NGO Uttaran.

by Shahidul Islam | On 24 Jul 2009

Impact of Global Financial Crisis on Reserve Bank of India (RBI) as a National Regulator

The multi-dimensional role of RBI and how it reponded to the financial crisis is depicted in the presentation. [Presentation made at the 56th EXCOM Meeting and FinPower CEO Forum organised by APRACA a...

by Usha Thorat | On 15 Jul 2009

Global Financial Architecture: Past and Present Arguments, Advice, Action

In the context of the formation of G-20, the paper points out the absence of reform in the global financial architecture (GFA) after the East Asian crisis, and assesses factors that can improve the ch...

by Ashima Goyal | On 15 Jul 2009

Human Development Index for Andhra Pradesh

The method used to measure Human Development are reviewed in order to measure Human Development Index for rural AP by considering indicators such as economic attainment, longevity and education. The e...

by Jatinder S Bedi | On 07 Jul 2009

Key Features of Budget 2009-2010

Key features of budget presented by the Finance Minister

by Pranab Mukherjee | On 06 Jul 2009

Report of the Internal Working Group on Debt Management

Establishing a debt management office would consolidate all debt management functions in a single agency, and be the catalyst for wider institutional reform and transparency about public debt. It is i...

by Ministry of Finance | On 04 Jul 2009

Emerging Contours of Financial Regulation: Challenges and Dynamics

The paper attempts to analyse the emerging contours of regulation of financial institutions with an emphasis on the emerging challenges and dynamics. [Paper prepared for Financial Stability Review of...

by Rakesh Mohan | On 29 Jun 2009

Inflation and the Poor in Bangladesh

This note analyses the major characteristics of the current inflationary episode in the economy along with its probable impact on different population groups in Bangladesh. The note also draws some po...

by Mustafa. K. Mujeri | On 27 Jun 2009

Inflation in Bangladesh: Does the Changing Consumption Pattern Affect its Measurement ?

The paper analyzes the effects of changes in consumption factor on the calculation of inflation calculation in Bangladesh. This is important as there might exist some volatile and non-trend components...

by Md. Habibour Rahman | On 27 Jun 2009

Measuring Inflationary Pressure in Bangladesh: The P-Star Approach

The paper estimates the P* model for Bangladesh economy and test its forecasting ability through generating recursive forecasts. The empirical result shows that the model performs relatively well and...

by Mustafa. K. Mujeri | On 27 Jun 2009

Relative Effectiveness of Monetary and Fiscal Policies on Output Growth in Bangladesh: A VAR Approach

This paper investigates the relative importance of monetary and fiscal policies in altering real output of Bangladesh. An unrestricted vector auto regression (VAR) framework based on the St. Louis equ...

by Md. Habibur Rahman | On 27 Jun 2009

Sources of FDI Flows to Developing Asia: The Roles of Distance and Time Zones

This paper investigates sources and determinants of foreign direct investment (FDI) flows to developing Asia using bilateral FDI flows for the period 1990-2005. With regard to the determinants of FDI...

by Rabin Hattari | On 27 Jun 2009

Impact of Monetary Policy Changes in a Semi-Global Economy: Evidence from Bangladesh

The study examines the impact of changes in monetary policy in Bangladesh. Specifically, the study examines the impact of domestic and foreign monetary shocks on Bangladesh’s major economic aggregate...

by Sayera Younus | On 22 Jun 2009

Disentangling the Global Financial Crisis: A Review of the Global Response

At this moment, the world is undergoing the worst economic crisis since the Great Depression of 1930s. It is not clear exactly which factors instigated the crisis, but there are many candidates; the f...

by H. N. Thenuwara | On 15 Jun 2009

Financial Development and Velocity of Money in Bangladesh: A Vector Auto- Regression Analysis

The study uses co-integration and vector auto-regression (VAR) techniques to identify the determinants of income velocity of money (VM) in Bangladesh, covering both narrow and broad money. The study o...

by Md. Akhtaruzzaman | On 15 Jun 2009

Employment Promoting Growth in Bangladesh: Monetary and Financial Sector Issues

Although economic growth has improved in recent years in Bangladesh, the better economic performance has not translated into satisfactory poverty reduction. The type of growth that matters Bangladesh...

by Mustafa. K. Mujeri | On 15 Jun 2009

Financing Long Term Investments in Bangladesh: Capital Market Development Issues

There has been an increase in the demand for infrastructure services and opening up of the infrastructure sector for private investment. As a result, a large number of financial intermediaries and pri...

by Mustafa. K. Mujeri | On 15 Jun 2009

Regulatory Structure Under EC Competition Laws: Lessons for India

Competition law is different from other branches of law. It is not about the fairness or morality to be instilled in the actions which mark societal behaviour. Instead the rules of competition reflect...

by Tarun Jain | On 14 Jun 2009

Foreign Exchange Liberalization: Perceptions, Realities and Way Forward

The article focuses on understanding of the economics of the exchange control liberalisation in macroeconomic perspectives and, therefore, the article does not attempt to interpret or explore the lega...

by P Samarasiri | On 12 Jun 2009

Does the Currency Regime Shape Unhedged Currency Exposure?

This paper examines how unhedged currency exposure of firms varies with changes in currency exibility. A sequence of four time-periods with alternating high and low currency volatility in India prov...

by Ila Patnaik | On 11 Jun 2009

A New Debt Crisis? Assessing the Impact of the Financial Crisis on Developing Countries

This report is intended as a wake-up call to anyone who thinks the developing world debt crisis has been resolved. In fact, it assesses fears of a new debt crisis, more serious than before, spreading...

by Sarah Edwards | On 11 Jun 2009

Regulation of Organ Transplantation in Thailand: Does it Work?

End stage organ failure is very distressing condition. Initially, there was only palliativetreatment for end stage organ failure such as hemodialysis or peritoneal dialysis. Later on, the advancement...

by Viroj Tangcharoensathien | On 04 Jun 2009

Archiving the Nation –State in Feminist Praxis: A South Asian Perspective

This essay mainly examines the relationship between feminism and nationalism as a point from which it looks at South Asian feminist scholarship. The historical circumstances in their respective countr...

by Uma Chakravarti | On 03 Jun 2009

EXPORTING THROUGH E-COMMERCE: How Indian Exporters have Harnessed the IT Revolution

This monograph looks at how Indian exporters of goods and services have used e-commerce to promote exports. The second section comes up with explanations for the failure of the Indian garment export...

by Dipankar Sengupta | On 29 May 2009

Measures of Labour Force Participation and Utilization

The choice of the best measures of labour force, work force and unemployment has been the subject of intense debate in the formulation of employment strategies and preparation of plan documents. A new...

by J Krishnamurty | On 28 May 2009

Risk Management Lessons from the Global Financial Crisis

During the global financial turmoil of 2007 and 2008, no major derivative clearing house in the world encountered distress while many banks were pushed to the brink and beyond. An important reason for...

by Jayanth R Varma | On 26 May 2009

Insecurities of the Old and Marginalized: Inflation, Oil Shocks, Financial Crisis and Social Security

The paper examines the impact of recent inflation and financial shocks on the vulnerable, and explores policy design to reduce both future shocks and vulnerability to shocks. Inflation affects the typ...

by Ashima Goyal | On 22 May 2009

Determination of Inflation in an Open Economy Phillips Curve Framework: The Case of Developed and Developing Asian Countries

This paper investigates the determination of inflation in the framework of an open economy forward-looking as well as conventional backward-looking Phillips curve for eight Asian countries- Japan, Ho...

by Pami Dua | On 22 May 2009

Regional Monetary Units for East Asia: Lessons from Europe

This paper reports the European experience with a basket currency, the ECU. The ECU was initially introduced as a reference unit and later became the anchor of the European Monetary System. Public pol...

by Girardin Eric | On 22 May 2009

Summary of the Welcome Remarks by Dr.Bimal Jalan, Governor, at the 11th C.D. Deshmukh Memorial Lecture

Dr. Bimal Jalan, Governor gave a welcome remark to Prof. Charles Goodhart on his 11th C. D. Deshmukh Memorial Lecture on 'Whither Central Banking ?' This paper revolves around Dr. Jalan's summary and...

by Dr Bimal Jalan | On 21 May 2009

Contextualizing The Urban Healthcare System - Methodology for Developing a Geodatabase of Delhi's Healthcare System.

This paper introduces the setting up of a Geographical Information System on Delhi for studies in the Social Sciences. Through an explaination of their methodological procedure and demonstration of t...

by Pierre Chapelet | On 20 May 2009

Himalayan Journal of Development and Democracy Vol 3:1, 2008

Papers and Proceedings of The Third Annual Himalayan Policy Research ConferenceSession Chairs and Discussants Session 1A: Conflict Resolution and Democratic Transitions Chair: Christopher Can...

by Vijaya R. Sharma | On 19 May 2009

Macroeconometric Policy Modeling for India: A Review of Some Analytical Issues

Macroeconomic modelling is generally motivated by two objectives: forecasting and more significantly, policy analysis. In pursuit of both these objectives, every model must ideally satisfy four crite...

by V. Pandit | On 16 May 2009

Managing Prolonged Low Fertility: The Case of Singapore

This paper analyzes Singapore’s multi-pronged approach to managing prolonged low fertility which has led to population aging, labor force shortages, increasing elderly dependency ratios, and feminizat...

by Mukul. G Asher | On 15 May 2009

Book Review: Indian Neo-realist Cinema

Review of John W. Hood. Beyond the World of Apu: The Films of Satyajit Ray. New Delhi Orient Longman, 2008. xi + 476 pp. $36.95 (paper),

by Sakti Sengupta | On 15 May 2009

Agricultural Impact of Climate Change: A General Equilibrium Analysis with Special Reference to Southeast Asia

Capitalizing on the most recent worldwide estimates of the impacts of climate change on agricultural production, this paper assesses the economic effects of climate change for Southeast Asian countrie...

by Fan Zhai | On 14 May 2009

The Asian “Noodle Bowl”:Is It Serious for Business?

A lively debate is taking place over the impact of free trade agreements (FTAs) on East Asia's business between those who view the agreements as a harmful Asian "noodle bowl"—i.e., overlapping regiona...

by Masahiro Kawai | On 13 May 2009

Environmental Toxicology: The Legacy of Silent Spring

The authors draws the reader’s attention to the twin toxic hazards that is radiation and chemicals linger , the author effectively fused the pre-existent pollution concerns of urban and industrial ref...

by D. A Christie | On 06 May 2009

Gender and Innovation in South Asia

To understand how gender, women’s rights and citizenship intersect with innovation in SouthAsia, one must begin by considering some of the main features of life for South Asian women, about a half of...

by Sujata Byravan | On 06 May 2009

Reporting The Olympic Year

This paper discusses if the Olymipic Games presented a change- not change along the lines of South Koreas leap towards democracy after the Seol Olympics, but some small shift- and how the nature of it...

by Jane Macartney | On 05 May 2009

Globalisation Produces Good Outcomes, Enhance Them: Prof Bhagwati

This paper talks of good outcomes of Globalisation which needs to be further inproved wherein Institutional response mechanisms should be designed to address any problems that may arise in specific ar...

by Jagdish Bhagwati | On 03 May 2009

Global Financial Crisis: Causes, Consequences and India’s Prospects

Presentation shows the global financial crisis, the difference between US, Europe and India, RBI’s policy response and impact, lessons from the crisis, medium-term issues and challenges. [Speech deliv...

by Rakesh Mohan | On 29 Apr 2009

Macroeconomic Effects Of Public Invesment In Infrastructure In India

This paper attempts to build an aggregative, structural,macroeconometric model for India. Investment and output in the model are disaggregated into four sectors namely(a) agriculture including forestr...

by K.N Murty | On 02 Mar 2009

Some Reflections on the Recent Global Financial Turmoil – an Indian Perspective

The speech tries to underline some lessones that be drawn from the financial crisis relevant to regulation, financial markets and the market infrastructure and to reflect on these. [Annual Conference...

by Shyamala Gopinath | On 15 Jan 2009

Reducing Currency and Maturity Mismatch

The main objectives of this report are to identify and propose policies, factors and conditions that could mitigate or avoid double mismatches. policies here means any course of action pursued and ad...

by Khee-Giap Tan | On 19 Dec 2008

Inda's Pharmaceutical Industry on Course for Globalisation

The pharmaceutical industry is expanding worldwide. For some years now, it has been benefiting from the particular dynamics of the Asian economies as both purchasers and producers. It is not only the...

by Uwe Perlitz | On 12 Dec 2008

The Impact of Terrorism and Conflicts on Growth in Asia, 1970–2004

This paper quantifies the impact of terrorism and conflicts on income per capita growth in Asia for 1970–2004. Transnational terrorist attacks had a significant growth-limiting effect. An additional t...

by Khusrav Gaibulloev | On 05 Dec 2008

Controlling Money and Politics – An Exercise in Damage Control

Whether there should be transparency in political finance? Whether there should be a control over the money that the political parties are receiving?

by Marcin Walecki | On 04 Dec 2008

The Role of Fiscal and Monetary Policies in Sustaining Growth with Stability in India

This paper focuses on the role of fiscal and monetary policies in the evolution of the Indian economy over the years, with particular attention being given to the reforms undertaken in these policies...

by Rakesh Mohan | On 28 Nov 2008

Strategies for Improved Servicing of the Customers: Case of Ghaziabad Goods Shed of the Indian Railways

The paper provides a comprehensive description of GZB (Ghaziabad) goods shed, including facilities, traffic flow, customer interface, processes, etc. In this context, the paper raises questions regard...

by G. Raghuram | On 12 Nov 2008

The Role of Intellectual Property Rights in Information and Communication Technologies

The paper starts by recapitulating the basic arguments provided by economic theory to explain the existence of the patent system. The paper then concentrates on the three important ICT industries viz....

by C Niranjan Rao | On 30 Oct 2008

India’s Macroeconomic Performance and Policies Since 2000

The paper reviews India’s macroeconomic performance and policies since 2000. The first section briefly summarizes key macroeconomic developments regarding economic growth, inflation, external balance...

by Shankar Acharya | On 29 Oct 2008

International Financial Regulation : The Quiet Revolution

The author points out that the general directions of change adopted by the financial authorities in countries around the world in response to the market turbulence of 1997 and 1998 are correct. But, e...

by Howard Davies | On 14 Oct 2008

Heterodox Macroeconomics and the Design of Monetary Institutions

Two agendas of the heterodox economics programme; the stock-flow consistent models pioneered by Wynne Godley, and the monetary circuit approach researched in France and Italy are discussed. The object...

by Romar Correa | On 10 Oct 2008

A New Era of World Hunger?- The Global Food Crisis Analyzed

This paper is an account of the main streams discussed in an international conference, held in New York in April 2008, organized by the Friedrich Ebert Foundation and Global Policy Forum, which cons...

by James A. Paul | On 24 Sep 2008

The Natural Interest Rate in Emerging Markets

An optimizing model of a small open emerging market economy (SOEME) with dualistic labour markets and two types of consumers, is used to derive the natural interest rate, terms of trade and potentia...

by Ashima Goyal | On 24 Sep 2008

How Participatory is Participatory Irrigation Management (PIM)? A Study of Water User Associations (WUAs) in Andhra Pradesh

It is argued that the reason for the ills of irrigation management is the alienation of farmers from the process of planning and implementation. Often 'lack of political will' is identified as the ma...

by V. Ratna Reddy | On 23 Sep 2008

Offending, Shocking, Disturbing - A Free Press Right? The Annual Press Freedom Round Table Proceedings

There is a tremendous amount of media freedom problems in the world, and there is also a certain time travel backwards in many parts of the world. It is not only true in the new democracies, where we...

by World Association of Newspapers WAN | On 19 Aug 2008

Fiscal Policy and Economic Reforms

A practitioner’s perspective of fiscal policy, and economic reforms.

by Y V Reddy | On 14 Aug 2008

Banking Sector Reforms and Equity a Sub-Regional Analysis in Andhra Pradesh

In this study an attempt is made to examine the equity aspect due to reforms in the banking sector at sub-regional level in the state of Andhra Pradesh covering the period 1985 to 2004. [CESS WP 68]...

by K S Reddy | On 04 Aug 2008

Macroeconomic and Monetary Developments First Quarter Review 2008-09

The Reserve Bank released the document “Macroeconomic and Monetary Developments: First Quarter Review 2008-09” to serve as a backdrop to the First Quarter Review of Annual Policy Statement for 2008-0...

by Reserve Bank of India | On 28 Jul 2008

Managing Capital Flows: The Case of India

From the early 1990s, India embarked on easing capital controls. Liberalization emphasised openness towards equity flows, both FDI and portfolio flows. In particular, there are few barriers in the fa...

by Ajay Shah | On 24 Jul 2008

The Future Role of the IMF: Asian Perspectives

The financial crisis of 1997 gave the Asian region a very hard lesson on the importance of financial stability. The severity of the crisis and the failure of IMF in assisting these countries became a...

by Titik Anas | On 17 Jul 2008

Sustainable Economic Growth for India

Use of Macroeconometric models has by now assumed a measure of universality as an unavoidable aid to forecasting and policy analysis; challenges and controversies spread over more than two decades not...

by V. Pandit | On 26 Jun 2008

Food Failures and Futures

The paper is an analysis of food aid, rising food prices and its implications.

by Laurrie Garrett | On 31 May 2008

India, Democracy and the Press

The impressive growth of the Indian media is largely taking place outside of the voting classes, ensuring that the media are not playing a significant public service role. Ultimately, the author sugge...

by James Mutti | On 11 Apr 2008

Popular Perceptions of Emerging Influences on Mortality and Longevity in Bangladesh and West Bengal

Although new environmental and pathological threats to human survival and longevity have been documented, relatively little is known about how these threats are perceived in the popular imagination. D...

by Sajida Amin | On 09 Apr 2008

Innovation and Growth: Role of the Financial Sector

A brief overview is provided about India’s long-term growth performance. Then an attempt is made to set out the conditions for successful innovations. To assess the role of innovations in the Indian...

by Rakesh Mohan | On 03 Apr 2008

Budget 2008-09 and Children A First Glance

Budget for Children (BfC) is not a separate budget. It is merely an attempt to disaggregate from the overall budget, the allocations made specifically for programmes that benefit children. From 2000-0...

by HAQ Centre for Child Rights HAQCRC | On 04 Mar 2008

Competitiveness of India's Manufacturing Sector: An Assessment of Related Issues

An analysis of the various parameters of manufacturing competitiveness of the Indian economy is provided. The paper notes that India is one of the leading producers and exporters of a number of commod...

by Lakshmanan L | On 19 Feb 2008

Third Quarter Review of Annual Monetary Policy for the Year 2007-08

Review consists of three sections: I. Assessment of Macroeconomic and Monetary Developments; II. Stance of Monetary Policy; and III. Monetary Measures. An analytical profile of macroeconomic a...

by Y V Reddy | On 30 Jan 2008

Macro-economic Management of the Indian Economy: Capital Flows, Interest Rates and Inflation

The paper lays out a consistent frame work for monetary management in the context of excess capital inflows. There is an urgent need for developing competitive, open and well regulated markets for (...

by Arvind Virmani | On 24 Jan 2008

The Fundamental Equilibrium Real ExchangeRate in India : An Approach to Estimation and Measurement of Misalignment

An estimation of the real equilibrium exchange rate for India for the period in the latter half of the 1990s using fundamental economic variables by decomposing a structural VAR vested with appropriat...

by Himanshu Joshi | On 18 Jan 2008

A Review of the Pharmaceutical Industry of Canada

Three important aspects of the Canadian pharmaceutical industry-viz. compulsory licence, price control on patented drugs and the R&D scenario. Unlike other developed countries, which have adopted the...

by Lalitha N | On 18 Jan 2008

Newsletter on Regional Economy A bi-monthly four-state update from IRIS

A monthly compilation by IRIS.

by IRIS India IRIS | On 11 Jan 2008

Russian Roulette

About different games to see whether the affected player or team to appeal against the wrong decision to a higher authority.

by T.N. Ninan | On 09 Jan 2008

Management of the Capital Account in India: Some Perspectives

Management of capital accounts in the global context and in the Indian context. [Inaugural address delivered by Dr. Y. V. Reddy, Governor, Reserve Bank of India at the Annual Conference of the Indian...

by Y V Reddy | On 08 Jan 2008

PPP at Work

Two years later Delhi will have an airport that can handle 40-50 million passengers-making it one of the 10 largest in the world. And it will have been built in barely half the time that it took Singa...

by T.N. Ninan | On 19 Dec 2007

Determinants of Choosing an Airline by a Traveller -An Analysis from New Zealand Perspective

The important determinants that have influence on travellers to choosing a particular airline are analysed. Data from primary and secondary sources have been used for this paper. A field survey was co...

by Ershad Ali | On 12 Dec 2007

The Growing Importance of Emerging Economies in the Globalised World and its Implications for the International Financial Architecture

The growing importance of India and other emerging economies in the globalized world are given in this lecture. This group of economies is not easy to define. However, some reflections on the implicat...

by Jean-Claude Trichet | On 30 Nov 2007

FEER: The November 2007 Issue

Asia’s Bill of Health: A REVIEW Focus On Health Care Pakistan’s Last Bid for Democracy By Colum Murphy Pakistan: Defusing Pakistan’s Tribal Rebellion By Shaukat Qadir Taiwan: The Father of Tai...

by FEER | On 27 Nov 2007

Fasten Your Seatbelts! Monetary Policy Challenges in Turbulent Times

One of the burning issues at the moment relates to increasing the “voice” or representation of emerging-market economies in international financial institutions such as the IMF and World Bank. There a...

by Mboweni T.T. | On 13 Nov 2007

Monetary Conditions Index for India

The authors attempt to construct a monetary conditions index (MCI) for India in order to take both interest rate and exchange rate channels simultaneously into consideration while evaluating the stanc...

by Kannan R | On 08 Nov 2007

Non Deliverable Foreign Exchange Forward Market: An Overview

Recognising the growing activity in the non deliverable forward (NDF) market in the recent years, the paper attempts to present a detailed analysis of the NDF market with special focus on Indian rupee...

by Sangita Misra | On 22 Oct 2007

Recent Financial Market Developments and Implications for Monetary Policy

The nature of the financial turbulence that happened recently in US and Europe, why it happened, where it happened, and the implications for central banks. Some of the forces that led up to and charac...

by Rakesh Mohan | On 12 Oct 2007

Elements of Effective Central Banking: Theory, Practice, and History

The key elements of effective central banking that account for much of the improvement in monetary policy around the world today are outlined and explained. The past quarter of the century has been a...

by Marvin Goodfriend | On 09 Oct 2007

Human Tragedy in Majuli: Can Anything Be Done?

Majuli was once the largest river islands and the cultural home of the Asomiya community. Today, repeated floods of the Brahmaputra have ensured that the community has lost home and hearth to erosion...

by Apurba K. Baruah | On 07 Oct 2007

Burma: Member States of the UN must Intervene: ACHR Weely Review

Reports have been pouring in that the Burmese soldiers today used baton and tear gas against the Buddhist monks and civilian protesters at Shwedagon pagoda, the holiest Buddhist place in Rangoon. The...

by Asian Centre for Human Rights ACHR | On 26 Sep 2007

Models of Equilibrium Real Exchange Rates Revisited: A Selective Review of the Literature

One of the more important concepts in open macroeconomics is the “equilibrium real exchange rate” (ERER). Real exchange rate misalignments are argued to have been the cause of loss of competitivene...

by Reza Y. Siregar | On 20 Sep 2007

Monetary Policy Developments in India: An Overview

A review of the recent developments in the Indian Economy. Review of the trends in monetary policy challenges globally and for emerging market economies (EMEs) in particular. The monetary policy frame...

by Y V Reddy | On 10 Sep 2007

Report of the Inter-ministerial Task Force on Convergence of Securities and Commodity Derivative Market

With the abolition of prohibition on forward trade in all the commodities at the beginning of 2003, the commodity derivativesmarket has been totally liberalized. The Ramamoorthy Committee set up by SE...

by Ministry for Consumer Affairs,Food and Public Dist MCAFP | On 26 Aug 2007

Contagion Again?

Financial contagion is dangerous because you don’t know where it will hit, and how hard. Every country has to remmber this and make arrangements so that a criris does not repeat as happenend in 1997 (...

by T.N. Ninan | On 13 Aug 2007

ACHR Weekly Review: Pakistan: The Land of Religious Apartheid and Jackboot Justice

On 14 August 2007, the United Nations Committee on the International Convention Elimination of All Forms of Racial Discrimination (CERD Committee) is tentatively scheduled to examine the situation of...

by Asian Centre for Human Rights ACHR | On 11 Aug 2007

Towards a Corporate Response to Climate Change

The recently concluded conclave of Indian corporate leaders in Palampur to discuss the scary situation of climate change in the world left the delegates more bewildered than clear on the strategies to...

by Manu N. Kulkarni | On 10 Aug 2007

First Quarter Review of Monetary Policy: Underlying Macroeconomics

An overview of domestic and global macroeconomic developments [Valedictory address at the High Powered Macroeconomic Workshop organised by the State Bank of India].

by Rakesh Mohan | On 08 Aug 2007

Essays: Monetary Policy: Satisfy China’s Demand for Money

A talk with Nobel economics laureate Robert Mundell on how Beijing can keep the yuan’s value fixed and still avoid inflation. China’s high balance of payments surplus and pressure on the yuan could be...

by Hugo Restall | On 04 Aug 2007

FEER: The June 2007 issue

Satisfuy China's Demand for Money by Hugo Restall Monetary Policy: China’s Last Option: Let the Yuan Soar by Michael Pettis Stop the Specter of a Rising Rupee by Vivek Moorthy Hong Kong’s Arreste...

by FEER | On 04 Aug 2007

First Quarter Review of the Annual Policy Statement on Monetary Policy for the Year 2007-08

*Bank Rate kept unchanged *Cash Reserve Ratio to be increased by 50 basis points to 7.0 per cent with effect from the fortnight beginning August 4, 2007 *GDP growth projection for 2007-08...

by Y V Reddy | On 31 Jul 2007

Foreign Exchange Reserves

The report is a compilation of quantitative information with regard to external reserves, such as, level of foreign exchange reserves, sources of accretion to foreign exchange reserves, external liabi...

by Reserve Bank of India | On 26 Jul 2007

The Rise in Remittances to India: A Closer Look

India has clearly achieved a large sustained level of remittances. Policy initiatives by the government and banking institutions have achieved two significant results. First, most remittances flow tho...

by Muzaffar Chisti | On 11 Jul 2007

The Indian Currency Regime and its Consequences

Since 1993, India’s currency regime is said to be a managed float, a “market determined exchange rate” in the sense that there is a currency market and the exchange rate is not visibly administrativel...

by Ila Patnaik | On 10 Jul 2007

A Water Monetary Standard: An Economic Thesis

In emerging markets and economies with limited supplies of potable water, the current monetary policy governing water distribution has failed or will eventually fail. This paper offers an alternative...

by Michael P. Jackson | On 09 Jul 2007

Book Review: Towards a Relevant Social Science

Review of: Alternative Discourses in Asian Social Science: Responses to Eurocentricism by Syed Farid Alatas; Sage Publications, New Delhi.

by Vedapushpa | On 08 May 2007

China-India and the Global Talent shortage

Economic growth in China and India is exponentially increasing the global demand for skills. In turn, this will cause a severe talent shortage in the world over the next few years. What does this...

by Sanjeev Sanyal | On 02 Apr 2007

WTO Agreements and Indian Agriculture: Retrospection and Prospects

By the end of 1999 World Trade Organization (WTO) will complete its five years of existence. At that time, re-negotiation on Agreement on Agriculture (AOA) will also begin. It is time to take a retros...

by Satish Y Deodhar | On 14 Mar 2007

Cropping in Arid Area Greenhouse

In hot, arid regions, yields are low and unstable, growing season limited to one. Greenhouses can stabilize and improve yields and extend seasons. But their adoption is impeded by the requirement of l...

by Sharan G | On 08 Mar 2007

Outlays Only, Not Outcomes?

The Budget does not sufficiently recognize the need for re-balancing the role of the state and the market, and of the public and the private sectors for managing increasingly complex economic and stra...

by Mukul Asher | On 07 Mar 2007

Assessing the Applicability of Geographical Indications as a Means to Improve Environmental Quality in Affected Ecosystems and the Competitiveness of Agricultural Products

the objective of this report is to analyse the existing and potential links that can be established between current Geographical Indications (GIs) and regional sustainable development. A case study a...

by Mariano Riccheri, | On 24 Feb 2007

What Drives Forward Premia in Indian Forex Market?

This paper explores the behaviour of the forward premia for US$ vis-à-vis INR during the five-year period of September 2000 to September 2005. Indian forex market experienced a peculiar phenomenon i...

by Anil Kumar Sharma | On 10 Jan 2007

Creating Development Friendly Rules of Origin in the EU

The EU Commission argues that radical changes to he origin rules will both simplify processes and make them more development friendly. Will they? There are different opinions on what Rules of Origin s...

by Christopher Stevens | On 06 Jan 2007

Textile and Clothing Trade with European Union: Impact of year-old EU Generalised System of Preferences

Taking into account the latest data of exports of textiles and clothing to the European Union from South Asia and China, a year-end assessment of the impact of the Generalised System of Preferences (...

by C. Satapathy | On 14 Dec 2006

Mahatma Gandhi and the Prisoner’s Dilemma: Strategic Civil Disobedience and Great Britain’s Great Loss of Empire in India

This paper examines the relationship between statutory monopoly and collective action as a multi-person assurance game culminating in an end to British Empire in India. In a simple theoretical model,...

by Chowdhury Irad Ahmed Siddiky | On 27 Nov 2006

The North American Journal of Economics and Finance, October 2006: Asian Regionalism: a Symposium

Introduction: Regional integration in Asia editorial by Ramkishen S. Rajan Production fragmentation and trade integration: East Asia in a global context by Prema-chandra Athukorala and Nobuaki Yamas...

by The North American Journal of Economics and Finance | On 05 Nov 2006

Overview of Bilateral Free Trade and Investment Agreements

A comprehensive inventory of bilateral FTAs on a global scale, with sections on Africa and the Middle East, Asia and the Pacific, and Latin America and the Caribbean. It highlights the key points of e...

by Bilaterals.org | On 03 Nov 2006

Midterm Review of Annual Policy Statement for the year 2006-07

* Repo Rate increased to 7.25 per cent from 7.0 per cent. * The flexibility to conduct overnight repo or longer term repo including the right to accept or reject tender(s) under the LAF, wholl...

by Reserve Bank of India | On 31 Oct 2006

Monetary Regionalism in Asia Revisited

Given the divergence in economic and institutional structures in the region, any attempt to create a common currency absent macroeconomic policy coordination and mechanism for automatic intra-regional...

by Ramkishen S. Rajan | On 30 Oct 2006

Monetary Regionalism in Asia Revisited

Given the divergence in economic and institutional structures in the region, any attempt to create a common currency absent macroeconomic policy coordination and mechanism for automatic intra-regional...

by Ramkishen S. Rajan | On 30 Oct 2006

Post-Autistic Economics Review: Issue no. 38, 1 July 2006

- What Is Neoclassical Economics? Christian Arnsperger (University of Louvain, Belgium) Yanis Varoufakis (University of Athens, Greece) - The Autistic Economist Stanley...

by Post-Autistic Economics Movement | On 16 Jul 2006

Ways of Paying for Global Public-Goods

simple schedule of governmental contributions, of paying for global public-goods and common purposes: use of IMF Special Drawing Rights (SDRs); the United Kingdom’s International Finance Facility (IFF...

by Anthony Clunies-Ross, | On 02 Jun 2006

India Needs to Separate Debt from Monetary Management

The Reserve Bank of India, in its Annual Policy Statement on April 28, 2005, for the year 2005-06, announced its intention to reorient government debt management operations entailing functional separ...

by Charan Singh | On 14 Apr 2006

Media Studies: Turkey--Media Literacy: Why it is So Critical to Democratisation Process in Turkey

Media Studies is an emerging discipline in Asia and is of enormous significance at a time when many of the counties in this region which is witnessing struggles, both within the state apparatus and...

by Yasemin Inceoglu | On 07 Apr 2006

An Emerging Knowledge Economy and a Stagnating Agrarian Economy: Contradictions in Andhra Pradesh under Globalization

This paper presents some features of the contradictions in Andhra Pradesh’s economy today: the fast growth of IT and other technology-intensive industries in Hyderabad, and the alarming levels of dist...

by Jayan Jose Thomas | On 30 Mar 2006

Why is Exchange Rate Pass-through So Low?

Policy makers are particularly concerned about the extent and speed of exchange rate pass-through into domestic prices. However, in recent times there seems to be a growing degree of disconnect betw...

by Amit Ghosh | On 14 Mar 2006

The Extent of Exchange Rate Flexibility in India: Basket Pegger or Closet US Dollar Pegger?

This paper examines the degree of de facto exchange rate flexibility for India over the last two decades. While there is a diversity of methods that measure de facto exchange rate regimes, none indivi...

by Tony Cavoli | On 08 Mar 2006

Sri Lanka: Budget Speech by Finance Minister in Parliament

'Mahinda Chintana' : Towards a New Sri Lanka

by Ministry of Finance and Planning Sri Lanka | On 05 Mar 2006

Sri Lanka: Budget Brief, 2006: Towards a New Sri Lanka

Tax Proposals and Administration Summary of Budget 2006

by Ministry of Finance and Planning Sri Lanka | On 05 Mar 2006

Sri Lanka: Recent Economic Developments: Highlights of 2005 and Prospects for 2006

Economic Review of Developments in 2005 and Prospects for 2006. Presented before the Budget for 2006.

by Ministry of Finance and Planning Sri Lanka | On 05 Mar 2006

Economic Survey 2005-06, Chapter 6

External Sector

by Ministry of Finance | On 27 Feb 2006

Economic Survey 2005-06, Chapter 4

Securities Markets

by Ministry of Finance | On 27 Feb 2006

Financial Integration in East Asia: How Far? How Much Further to Go?

Despite numerous empirical studies examining various facets of the topic, the degree of intraregional financial integration in East Asia remains a matter of vigorous debate. This paper offers a select...

by Tony Cavoli | On 07 Feb 2006

Macroeconomic and Monetary Developments: Third Quarter Review, 2005-06

The robust performance of the Indian economy continued during the second quarter (July-September) of 2005-06. According to the Central Statistical Organisation (CSO), the economy recorded a real GDP...

by Reserve Bank of India | On 02 Feb 2006

The Social Cost of Foreign Exchange Reserves

There has been a very rapid rise since the early 1990s in foreign reserves held by developing countries. These reserves have climbed to almost 30 percent of developing countries' GDP and 8 months of i...

by Dani Rodrik | On 27 Jan 2006

Real Sector Shocks and Monetary Policy Responses in a in a financially vulnerable Emerging Economy

When analyzing the appropriate response for monetary policy during a currency crisis it is important to keep in mind two distinct channels: (a) the impact of raising interest rates on exchange rates...

by Ramkishen S. Rajan | On 27 Jan 2006

Macroeconomic and Monetary Developments: Third Quarter Review 2005-06

Contents I. The Real Economy -- 1 Agricultural Situation Industrial Performance Business Expectations Surveys Services Sector II. Fiscal Situation 14 Combined Government Fi...

by Reserve Bank of India | On 25 Jan 2006

Inflation Targeting Arrangements in Asia: Exploring the rate of the Exchange rate

Since the Asian crisis it has been recognized that exchange rate and monetary policy strategies must involve a “fairly high” element of flexibility rather than a single-minded defense of a particular...

by Ramkishen S. Rajan | On 19 Jan 2006

Taking Stock of Monetary and Financial Regionalism in Asia

Lecture at RIS, New Delhi December 2005

by Ramkishen S. Rajan | On 12 Jan 2006

The Economic Impact of EPAs in SADC Countries

The Cotonou Agreement introduces new fundamental principles with respect to trade between the European Union and African, Caribbean and Pacific countries relative to the Lomé Convention: in particula...

by Alexander Keck | On 19 Dec 2005

Controlled Capital Account Liberalisation: A Proposal

This paper outlines a proposal for a controlled approach to capital account liberalization for economies experiencing large capital inflows. The proposal essentially involves securitizing a portion o...

by Eswar S. Prasad | On 09 Dec 2005

Dictatorship, Democracy and Institutions: Macropolicy in China and India

We explore the hypothesis that macroeconomic polices are influenced by political structure, through a systematic comparison of reform period macroeconomic policy choices and outcomes, in China and Ind...

by Ashima Goyal | On 23 Nov 2005

East Asian Community: Prospects and Challenges

There is a growing need to a more institutionalized economic arrangement in East Asia. East Asia Economic Community might be an ideal form of such institution. However, the road is still long and...

by A Damuri | On 23 Nov 2005

Opportunities and Challenges in Building an East Asian Community

Inherenet weaknesses in AFTA and AEC and the need to counter regionalism in other parets of the world are some of the important reasons for evolving an East Asian Community. However, there are severa...

by Joseph Yap | On 23 Nov 2005

Development of National Infrastructures open to Asia and the Role of Fukuoka

The Asian Age is coming and these are some of the factors aiding it. The reduction of the domestic market (decrease in population, development of service economy and increase in imports); Dissolution...

by Akira Yamasaki | On 22 Nov 2005

Singapore's Role in Building of an East Asian Community

An East Asian community(EAC) is an idea now being seriously pursued in spite of significant challenges. Proliferating bilateral deals in Asia could emerge as building blocks towards the EAC, provided...

by Rahul Sen | On 22 Nov 2005

Realizing The East Asian Community”

The enterprise of building an East Asian Community has already begun. The process will indeed be long-term. Malaysia, from the beginning , has been steadfast in not giving up on the concept. Despite...

by Stephen Leong | On 22 Nov 2005

Asian Reserves and the Dollar: Is Gradual Adjustment Possible?

Large dollar reserves in Asian EMEs accompany large U.S. fiscal and current account deficits. Analysis of strategic sales by Asian EMEs suggests that an attack on the dollar is not certain but is poss...

by Ashima Goyal | On 21 Nov 2005

Has Financial Development Made the World Riskier?

Developments in the financial sector have led to an expansion in its ability to spread risks. The increase in the risk bearing capacity of economies, as well as in actual risk taking, has led to a ran...

by Raghuram G. Rajan | On 16 Nov 2005

East Asian Community, Into Reality

Without trust-building, an East Asian community remains unrealized. The vision of an Asia-Pacific community offers a more attractive and viable option. A sound paradigm is community building and the w...

by David S. Hong | On 08 Nov 2005

Envisioning an East Asian Community--the Eu's Perspective and Role

EU's response to the East Asian community has to take account of several dimensions including Issues and dynamics of East Asian regional cooperation and integration; Scenarios of regional Community-bu...

by Willem vd Geest | On 08 Nov 2005

Agreement On South Asian Free Trade Area (SAFTA)

Motivated by the commitment to strengthen intra-SAARC economic cooperation to maximise the realization of the region's potential for trade and development for the benefit of their people, in a spirit...

by Anonymous | On 13 Aug 2005

SAARC and India: Policy Issues hinge on Security and Democracy

The entire project of SAARC is dependent on India’s capacity to bind the neighbouring states in multiple networks of ties to promote regional cooperation. India not only shares frontiers with all the...

by Rajen Harshe | On 13 Aug 2005