Asian Development Bank

Displaying 1-40 of 66 results

  • White Papers // May 2011

    Effects Of Financial Market Imperfections On Indian Firms' Exporting Behavior

    Using data from more than 6,000 manufacturing firms in India for 1996-2008, the authors investigate the impact of financial constraints on the exporting behavior of Indian manufacturing firms while also focusing on the link between exchange rate movement and exports. They find that there is a strong degree of persistency...

    Provided By Asian Development Bank

  • White Papers // Mar 2011

    Impact Of International Financial Shocks On Small Open Economies: The Case Of Four ASEAN Countries

    A more integrated global financial system has implications on the economic volatility of small open economies. This paper simulates the impact of a short-term shock originating from the global financial system on small open economies in the Association of SouthEast Asian Nations (ASEAN). The simulation is conducted by means of...

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  • White Papers // May 2011

    Financial Integration In Emerging Asia: Challenges And Prospects

    Using both quantity- and price-based measures of financial integration, this paper shows an increasing degree of financial openness and integration in emerging Asian markets. This paper also assesses the impact of a regional shock relative to a global shock on local equity and bond markets. The findings of this paper...

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  • White Papers // Dec 2010

    Monetary Policy Discipline And Macroeconomic Performance: The Case Of Indonesia

    Lax monetary policy in the United States has been pointed out as one of the responsible factors behind the recent global crisis. Similar loose monetary conditions also prevailed in many European countries before the crisis and were argued to be among the accommodating factors behind the run-up in asset prices...

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  • White Papers // Nov 2010

    Financial Development And Economic Growth In Developing Asia

    Economic theory suggests that sound and efficient financial systems - banks, equity markets, and bond markets - which channel capital to its most productive uses are beneficial for economic growth. Sound and efficient financial systems are especially important for sustaining growth in developing Asia because efficiency of investment will overshadow...

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  • White Papers // Nov 2010

    Institutional Parameters Of A Region-Wide Economic Agreement In Asia: Examination Of Trans-Pacific Partnership And ASEAN + FTA Approaches

    The future creation of a region-wide economic agreement in Asia has become the hot issue among trade policymakers in the region. The APEC 2010 Summit Statement clearly states that the members should pursue a Free Trade Area of the Asia-Pacific (FTAAP), building on various ongoing regional cooperation formworks including ASEAN+3...

    Provided By Asian Development Bank

  • White Papers // Dec 2009

    The Global Crisis And The Impact On Remittances To Developing Asia

    Remittances to Asia plunged during the 1997 Asian financial crisis, but the drop was temporary as the flows were increasing once again after just 1 year. The current crisis, however, is fundamentally different in that even the countries that send remittances have been adversely affected. The global nature of this...

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  • White Papers // May 2011

    Trade And Investment In The Greater Mekong Subregion: Remaining Challenges And The Unfinished Policy Agenda

    The Greater Mekong Subregion (GMS) is one of the most successful stories of economic transition and integration among developing countries. Strong rates of economic growth since the early 1990s have been fueled by increased trade and Foreign Direct Investment (FDI) in the subregion. This economic progress has translated into marked...

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  • White Papers // Feb 2011

    Cross-Border Mergers And Acquisitions And Financial Development: Evidence From Emerging Asia

    The paper examines the relationship between cross-border Mergers and Acquisitions (M&A) and financial development in emerging Asian economies. Bilateral data of cross-border M&A for nine emerging Asian economies during 2000 - 2009 are analyzed with a sample selection model and panel data model. Estimation results show that the banking sector...

    Provided By Asian Development Bank

  • White Papers // May 2011

    An Analysis Of The Effects Of Financial Market Imperfections On Indian Firms' Exporting Behavior

    Using the data of more than 6,000 manufacturing firms in India for 1996-2008, the authors investigate the impact of financial constraint on the exporting behavior of Indian manufacturing firms while also focusing on the link between the exchange rate movement and exports. They find that there is a strong degree...

    Provided By Asian Development Bank

  • White Papers // Sep 2010

    Asia And The Global Crisis: Recovery Prospects And The Future

    The global crisis of 2007-09 affected developing Asia largely through a decline in exports to the developed countries and a slowdown in remittances. This happened very quickly, and by 2009 there were already signs of recovery (except on the employment front). This recovery was led by China's impressive performance, aided...

    Provided By Asian Development Bank

  • White Papers // Feb 2011

    The Global Financial Crisis: Impact On Asia And Emerging Consensus

    The financial crisis, initially traced to subprime mortgage market in the United States (US) and the resulting deleveraging process by global financial institutions involved in highly complex financial transactions, marks the first global financial crisis of the 21st century. Few countries linked to the global financial markets and international trades...

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  • White Papers // Feb 2010

    The Impact Of The Global Crisis On South Asia

    The financial crisis that began with problems in the sub-prime mortgage market in the United States (US) and spread around the world in September 2008 marked the first global financial crisis of the 21st century. Indeed, what appeared initially to be a difficult, yet seemingly contained problem, turned into a...

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  • White Papers // Oct 2010

    Impact Of Global Financial Crisis On IDB Member Countries: The Case Of Gulf Cooperation Council And Sub-Saharan Africa

    The year 2008 witnessed three major crises (food, energy, global financial and economic crises) and their impacts were increasingly felt worldwide. Since the eruption of global financial crisis from September 2008, international financial markets have become more turbulent, and the global economic slowdown is expected to deepen further. Virtually no...

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  • White Papers // Nov 2009

    US International Trade And The Global Economic Crisis

    The contraction is on a scale not seen since the global recession following the second oil shock of 1979 - 1980. The United States (US) is at the epicenter of the crisis and is a major source of external demand for developing Asia and Pacific economies. US import and export...

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  • White Papers // Jun 2010

    ADB?s Contribution To Inclusive Growth In Transport And Energy Projects

    The long-term strategic framework, Strategy 2020, of the Asian Development Bank (ADB) has three pillars, of which inclusive growth is one. However, unlike for environmental sustainability and regional cooperation, the inclusive growth pillar does not have targets or indicators to measure ADB's contribution. Furthermore, the concept of inclusive growth is...

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  • White Papers // Nov 2010

    Infrastructure And Growth In Developing Asia

    This paper presents the state of infrastructure in developing Asian countries. It applies two distinct approaches (growth regressions and growth accounting) to analyze the link between infrastructure, growth, and productivity. The main conclusion is that a number of countries in developing Asia have significantly improved their basic infrastructure endowments in...

    Provided By Asian Development Bank

  • White Papers // Dec 2009

    The Decline Of Investment In East Asia Since The Asian Financial Crisis: An Overview And Empirical Examination

    A key legacy of the Asian financial crisis of 1997-1998 is a sustained drop-off in the investment rates of East Asian countries that were hardest hit by the crisis. The authors first review the stylized facts of investment in those countries, and then explore and evaluate the various possible explanations...

    Provided By Asian Development Bank

  • White Papers // Jul 2009

    Ageing Asia's Looming Pension Crisis

    Due to population ageing, weakening of family-based support, and other factors, old-age income support is becoming an issue of growing importance throughout Asia. This is especially true in East Asia and Southeast Asia where the demographic transition is already well under way. This paper provides a broad overview of the...

    Provided By Asian Development Bank

  • White Papers // Dec 2009

    Fast And Effective Change Management

    When embarking on a change initiative, one should rapidly implement change that results in the higher levels of performance that were envisioned when the decision to make the changes was made. To make this happen, organizations must first overcome the resistance to change and then secure as much discretionary effort...

    Provided By Asian Development Bank

  • White Papers // Sep 2009

    Learning In Strategic Alliances

    The resource-based view of the firm that gained currency in the mid-1980s considered that the competitive advantage of an organization rests on the application of the strategic resources at its disposal. These days, orthodoxy recognizes the merits of the dynamic, knowledge-based capabilities underpinning the positions organizations occupy in a sector...

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  • White Papers // May 2010

    Corporate Governance And Foreign Direct Investment

    Merger and acquisition (M&A) activity is motivated by increasing shareholder value through improved corporate governance. Therefore, stronger corporate governance can reduce the returns from M&A activity, including M&A foreign direct investment (FDI). This, in turn, can reduce the returns from non-M&A FDI in light of the complementary relationship between M&S...

    Provided By Asian Development Bank

  • White Papers // Dec 2009

    Outward Foreign Direct Investment And The Financial Crisis In Developing East Asia

    This paper examines two issues that are central to the rise of the dynamic East Asian economies and the management of globalization during a period of large external shocks. First, the paper examines the rise of developing East Asian economies (i.e., East and Southeast Asia excluding Japan) as significant sources...

    Provided By Asian Development Bank

  • White Papers // Feb 2010

    A Primer On Talent Management

    Globalization, the process by which economies, societies, and cultures are fast integrating through a globe-spanning network of communication and trade, drives both collaboration and competition. And so, in an age when those who possess knowledge - not land, labor, or capital goods - own the new means of production, it...

    Provided By Asian Development Bank

  • White Papers // Oct 2009

    Exchange Rate Regimes In The Asia-Pacific Region And The Global Financial Crisis

    Rising economic integration in Asia and periodic volatility in global and national financial markets raise the issue of the optimal degree and form of monetary cooperation among Asian economies. There is a large literature on the benefits and costs of monetary cooperation, however, less can be found with a specific...

    Provided By Asian Development Bank

  • White Papers // Mar 2010

    A Macroprudential Framework For Monitoring And Examining Financial Soundness

    This paper describes concepts and tools behind macro prudential monitoring, and the growing importance of macro prudential tools for assessing the stability of financial systems. This paper also employs a macro prudential approach in examining financial soundness and identifying its determinants. Using data from selected developing economies in Asia, South...

    Provided By Asian Development Bank

  • White Papers // Mar 2010

    A Macroprudential Framework For The Early Detection Of Banking Problems In Emerging Economies

    This paper develops an analytical framework that can be used to anticipate problems in the banking system and enable supervisors to take mitigating actions at an early stage. This paper has two components. First, it develops an early warning indicator that is intended to capture a number of the systemic...

    Provided By Asian Development Bank

  • White Papers // Apr 2010

    The 2008 Financial Crisis And Potential Output In Asia: Impact And Policy Implications

    Monitoring the behavior of potential output helps policymakers implement appropriate policies in response to an economic crisis. In the short-run, estimates of the output gap can guide the timing of the implementation and withdrawal of stimulus measures. In the medium-to long-term, these estimates can also provide the basis for gauging...

    Provided By Asian Development Bank

  • White Papers // Apr 2010

    Do Hub-And-Spoke Free Trade Agreements Increase Trade? A Panel Data Analysis

    The authors use panel data consisting of 96 countries and covering the period 1960 - 2000 to investigate the effects of Free Trade Agreements (FTAs) and hub-and-spoke systems of FTAs on exports. The empirical results imply an annual growth rate of 5.57% in exports, leading to a doubling of exports...

    Provided By Asian Development Bank

  • White Papers // Apr 2010

    Crises In Asia: Recovery And Policy Responses

    This paper is to provide stylized facts on recovery from economic downturns and to evaluate the role of macroeconomic policies in promoting recovery. In particular, the authors examine Gross Domestic Product (GDP) recessions and financial downturns (credit contractions and stock price declines) using data from 21 Organization for Economic Cooperation...

    Provided By Asian Development Bank

  • White Papers // May 2010

    A New Multi-Dimensional Framework For Analyzing Regional Integration: Regional Integration Evaluation (RIE) Methodology

    Theories of regional integration typically analyze the regional integration process from the perspective of a single discipline, usually economics. However, such one-dimensional analytical frameworks cannot fully capture the richness and complexity of the inherently multi-dimensional regional integration process. To address the problem, the authors propose the Regional Integration Evaluation (RIE)...

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  • White Papers // May 2010

    Regional Surveillance For East Asia: How Can It Be Designed To Complement Global Surveillance?

    This paper discusses conceptual and operational issues related to regional surveillance for East Asia, which is a topic that has assumed considerable prominence in recent months. The need for regional surveillance is both immediate and evolving. For the immediate need, a surveillance mechanism must cover the operational requirements of the...

    Provided By Asian Development Bank

  • White Papers // Sep 2009

    Beyond The Crisis: Financial Regulatory Reform In Emerging Asia

    This paper is to suggest reform measures to address the gaps and weaknesses in emerging Asia's financial regulatory and supervisory systems, on the basis of lessons drawn from the global crisis. For emerging Asia, the direct impact of the global financial crisis has been limited, thus generating substantially less pressure...

    Provided By Asian Development Bank

  • White Papers // Oct 2009

    Regional Economic Impacts Of Cross-Border Infrastructure: A General Equilibrium Application To Thailand And Lao PDR

    A general equilibrium framework is used in this paper to study the regional economic effects of infrastructure improvements designed to reduce the costs of cross-border inter-regional trade. The analysis focuses on the economic benefits from the Second Mekong International Bridge between Mukdahan Province in Thailand and Savannakhet Province in the...

    Provided By Asian Development Bank

  • White Papers // Nov 2009

    Roads For Asian Integration: Measuring ADB?s Contribution To The Asian Highway Network

    Against the backdrop of growing momentum for Regional Cooperation and Integration (RCI) in Asia, this paper examines the link between regional roads and Asian Development Bank (ADB) support between 1966 and 2008. The novel methodology used in this paper includes an Asia-wide definition of regional roads that fall on the...

    Provided By Asian Development Bank

  • White Papers // Nov 2009

    Complements Or Substitutes? Preferential And Multilateral Trade Liberalization At The Sectoral Level

    This paper explores the relationship between preferential and multilateral trade liberalization at the sectoral level using a unique dataset that includes data on Most Favored Nation (MFN) and bilateral preferential tariffs at the 4-digit ISIC level for 11 Latin American countries over the period 1985 - 2005. The authors find...

    Provided By Asian Development Bank

  • White Papers // Nov 2009

    The Financial Crisis And Money Markets In Emerging Asia

    Asian money markets entered the financial crisis in better shape than markets in other regions due to a substantial build-up of savings and liquidity in their banking systems, as well as a greater domestic focus in most of the region's markets. However, despite the higher liquidity and lower levels of...

    Provided By Asian Development Bank

  • White Papers // Jan 2010

    Regulatory Reforms For Improving The Business Environment In Selected Asian Economies? How Monitoring And Comparative Benchmarking Can Provide Incentive For Reform

    This paper also identifies areas where reform has taken place and where further efforts are needed, such as addressing policy uncertainties, the quality of governance and legal and institutional frameworks, and inadequate regulatory capacity. Attending to these shortcomings will require policymakers to implement structural reforms that improve efficiency and competitiveness...

    Provided By Asian Development Bank

  • White Papers // Jan 2010

    Global Production Sharing, Trade Patterns, And Determinants Of Trade Flows In East Asia

    Global production sharing - the breakup of a production process into vertically separated stages that are carried out in different countries - has become one of the defining characteristics of world trade over the past few decades. Any analysis of trade patterns or its determinants that ignores this phenomenon, and...

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  • White Papers // Feb 2010

    Regionalism Cycle In Asia (-Pacific): A Game Theory Approach To The Rise And Fall Of Asian Regional Institutions

    Despite a commonplace view that Asian regionalism lacks institutions, Asia, in fact, is full of regional institutions and frameworks in various forms. The rise and fall of regional institutions in Asia is an extremely dynamic process. Using a game theory approach, this paper hypothesizes that the dynamic nature of Asian...

    Provided By Asian Development Bank