{"title":"Evaluating the Impact of Remittances on Human Capital Investment in the Kyrgyz Republic","authors":"Xin Gao, Aiko Kikkawa, J. Kang","doi":"10.22617/WPS210189-2","DOIUrl":"https://doi.org/10.22617/WPS210189-2","url":null,"abstract":"Remittances from overseas can encourage human capital investment, but empirical studies have shown mixed evidence. This paper uses a 5-year panel dataset in the Kyrgyz Republic to examine the impact of remittances on the human capital formation of school-age children. After correcting for endogeneities with instrumental variables, the study finds that remittances have negative impacts on educational achievement. Extended hours of farm labor by children and increased expenditure on durable goods are identified among recipient households. To mitigate negative effects of remittances on children’s learning, the findings call for actions such as financial literacy education and better monitoring of farm labor hours of school-age children.","PeriodicalId":303938,"journal":{"name":"Asian Development Bank Economics Research Paper Series","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122105379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ana Kristel Lapid, Rogelio V. Mercado, Peter Rosenkranz
{"title":"Concentration in Asia’s Cross-Border Banking: Determinants and Impacts","authors":"Ana Kristel Lapid, Rogelio V. Mercado, Peter Rosenkranz","doi":"10.2139/ssrn.3848799","DOIUrl":"https://doi.org/10.2139/ssrn.3848799","url":null,"abstract":"Regional banking systems in Asia and the Pacific are not only increasingly integrated but also tend to be concentrated to a few counterparties only, exposing the region to financial risk and policy spillovers. This study assesses the determinants and impacts of the region’s cross-border banking concentration. It constructs and analyzes cross-border bank concentration measures for 47 economies in Asia and the Pacific from 2000 to 2019. Results suggest that higher capital account, trade openness, and per capita income are significantly associated with lower cross-border bank concentration. Moreover, elevated cross-border bank concentration tends to lower domestic credit growth and nonperforming loans.","PeriodicalId":303938,"journal":{"name":"Asian Development Bank Economics Research Paper Series","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130523937","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of United States Tax Policies on Sectoral Foreign Direct Investment to Asia","authors":"Valerie Mercer-Blackman, Sheila Camingue","doi":"10.2139/ssrn.3785109","DOIUrl":"https://doi.org/10.2139/ssrn.3785109","url":null,"abstract":"Using panel data at the country and sector level spanning almost 15 years, this paper shows that the corporate income tax rate does not affect the United States’ inward foreign direct investment once market size, costs, openness, and the business environment, are taken into account. This is true for United States foreign direct investment bound to developing Asia and across most sectors.","PeriodicalId":303938,"journal":{"name":"Asian Development Bank Economics Research Paper Series","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128154209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Evidence from Measuring Community Flood Resilience in Asia","authors":"F. Laurien, A. Keating","doi":"10.2139/ssrn.3590244","DOIUrl":"https://doi.org/10.2139/ssrn.3590244","url":null,"abstract":"Disaster risk and subsequent loss and damage in Asia are increasing at an alarming rate, threatening socioeconomic gains. Arresting this rapid increase in exposure requires risk-informed development and urban planning—a challenging proposition complicated by multiple economic and political incentives. To reduce these risks, action at the national and regional levels must be complemented by action at the community level. Measuring community disaster resilience can help lead to novel and systemic investments that build community resilience. Our analysis of community flood resilience data finds deficiencies and potential for substantial improvements in community flood resilience investment across the region, with different recommendations for urban, peri-urban, and rural locations. Our evidence from case studies shows that interventions prioritized by the measurementinformed process are more likely to succeed and be sustainable and have co-benefits for community development.","PeriodicalId":303938,"journal":{"name":"Asian Development Bank Economics Research Paper Series","volume":"177 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133454424","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A New Index of Globalization: Measuring Impacts of Integration on Economic Growth and Income Inequality","authors":"Hyeon‐seung Huh, Cyn‐Young Park","doi":"10.2139/ssrn.3590186","DOIUrl":"https://doi.org/10.2139/ssrn.3590186","url":null,"abstract":"The purpose of this study is twofold. The first is to develop a new composite index of globalization based on data on 158 economies over the period 2006–2014. The second intention is to use the new index to evaluate empirically the possible effects of globalization on economic growth and income inequality. The index comprises 25 indicators that represent the key socioeconomic components of global integration. Principal component analysis is used to weight each component and construct an aggregate measure. Unlike previous composite indexes, this study separates the contributions of intraregional and extraregional integration in the construction of the globalization index. The results show that although globalization promotes economic growth, it may worsen income inequality. High-income countries benefit most in that the positive effect of globalization on economic growth is strongest among them than on other income groups, and they experience a less pronounced widening of income inequality. Between the two drivers of global economic integration, intraregional integration is far more important than extraregional integration. The analysis also finds extraregional integration to be mainly responsible for the rise in income inequality that has accompanied globalization.","PeriodicalId":303938,"journal":{"name":"Asian Development Bank Economics Research Paper Series","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132299630","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Links between Climate Change, Disasters, Migration, and Social Resilience in Asia: A Literature Review","authors":"Kayly Ober","doi":"10.2139/ssrn.3590184","DOIUrl":"https://doi.org/10.2139/ssrn.3590184","url":null,"abstract":"This working paper was written as input for the Asian Development Outlook 2019. It reviews the literature at the intersection of disasters and migration in Asia and details the story of how disasters may affect mobility, from displacement to voluntary migration to “trapped populations.” It also provides an overview of the “migration as adaptation” literature, which shows that planned and sustained movement may help individuals weather shocks and diversify income in the face of disaster, as well as the uneven outcomes of disaster-related remittances in Asia. In addition, it gives insight into predicted impacts on mobility because of climate-related disasters and delves into the likely trends. Ultimately, it aims to show the diverse ways in which disaster-related migration may affect economic growth and social resilience in Asia.","PeriodicalId":303938,"journal":{"name":"Asian Development Bank Economics Research Paper Series","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131147298","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of Typhoons on Economic Activity in the Philippines: Evidence from Nightlight Intensity","authors":"E. Strobl","doi":"10.2139/ssrn.3590202","DOIUrl":"https://doi.org/10.2139/ssrn.3590202","url":null,"abstract":"We quantify the economic impact of typhoons in the Philippines. To this end we construct a panel data set of local economic activity derived from nightlight intensity satellite images and a cell level measure of typhoon damage constructed from storm track data, a wind field model, and a stylized damage function. Our econometric results reveal that there is a statistically and potentially economically significant, albeit short- lived, impact of typhoon destruction on local economic activity. Constructing risk profiles from a 60-year historical set of storms suggests that (near) future losses in economic activity for frequent (5-year return period) and rare (50-year return period) events are likely to range from between 1.0% and 2.5%.","PeriodicalId":303938,"journal":{"name":"Asian Development Bank Economics Research Paper Series","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130481245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ma. Laurice Jamero, M. Esteban, Christopher Chadwick, M. Onuki
{"title":"Rethinking the Limits of Climate Change Adaptation","authors":"Ma. Laurice Jamero, M. Esteban, Christopher Chadwick, M. Onuki","doi":"10.2139/ssrn.3590177","DOIUrl":"https://doi.org/10.2139/ssrn.3590177","url":null,"abstract":"This paper considers the potential extent of adaptation to sea level rise by examining the adaptation of communities in low-lying Philippine islands that flood during spring tides. Sea level rise poses a serious threat to small island developing states. Although communities at risk are already implementing various strategies to address it, a lack of case studies prevents them from understanding the potential extent of adaptation. This paper tackles this gap by examining the case of low-lying islands in the Philippines that become flooded during spring tides as a result of earthquake-induced land subsidence. Its findings show that, while development problems constrain communities’ adaptive capacity, people’s outlook on their future may ultimately determine the limits of adaptation.","PeriodicalId":303938,"journal":{"name":"Asian Development Bank Economics Research Paper Series","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126058722","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Financial Shocks and Exchange Market Pressure","authors":"I. Patnaik, Madhavi Pundit","doi":"10.22617/WPS190161-2","DOIUrl":"https://doi.org/10.22617/WPS190161-2","url":null,"abstract":"The taper tantrum episode induced a sudden outflow of capital from emerging markets back to the United States. This paper analyzes exchange market pressure in 93 developing and emerging market economies during this episode, drawing on recent methodological improvements in measuring exchange market pressure. We find that all economies in the sample that were integrated with global capital markets were heavily hit. Although popular discourse suggested that the extent of an economy’s fragility depended on its macroeconomic fundamentals, we find these fundamentals did not have much of a role in determining the level of pressure on a currency.","PeriodicalId":303938,"journal":{"name":"Asian Development Bank Economics Research Paper Series","volume":"30 14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125816704","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Macroprudential Policy in Asian Economies","authors":"Soyoung Kim","doi":"10.22617/WPS190114-2","DOIUrl":"https://doi.org/10.22617/WPS190114-2","url":null,"abstract":"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 ratios and required reserve ratios even before the global financial crisis. India and the People’s Republic of China are the most frequent users of macroprudential policy tools. Since 2000, tightening actions have been more frequent than loosening in the 11 economies. Most took tightening actions more frequently after the global financial crisis than before it. In most of these economies, macroprudential policy tends to be tightened when credit expands. The main empirical results from the analysis, which uses panel vector autoregression models, are that contractionary macroprudential policy has significant negative effects on credit and output; and that these effects are qualitatively similar to those of monetary policy. This suggests that policy authorities may experience potential policy conflicts when credit conditions are excessive and the economy is in recession.","PeriodicalId":303938,"journal":{"name":"Asian Development Bank Economics Research Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129835396","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}