Institutional Innovation by the Asian Infrastructure Investment Bank

Multimodal Infrastructure Investment Decision Making: An Institutional and Funding Perspective

Effect of Institutional Configuration on Innovation Activities in East Asian Firms: A Study of the Institutional Diversity of Asian Economies

The past few decades have seen an increasing amount of debate concerning economic integration within East Asia1, with the backdrop of rapidly growing economies in Asia2. The economic integration in Asia has, it seems, progressed in terms of the evolution of the international division of labor amongst such countries as China, Japan, South Korea, and other ASEAN countries, along with increases in...

Stochastic Herding by Institutional Investment Managers

This paper demonstrates that the behavior of institutional investors around the downturn of the U.S. equity markets in 2007 is consistent with stochastic herding in attempts to time the market. We consider a model of large number of institutional investment managers who simultaneously decide whether to remain invested in an assets or liquidate their positions. Each fund manager receives imperfe...

Firm Investment, Liquidity, and Bank Health: A Panel Study of Asian Firms in the 2000s

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The Relevance of Institutional Infrastructure

The contribution of the ‘new economy’ to economic growth in developing countries has so far been minimal. Despite the recent hype, the ‘old economy’ will for long be the fundamental force behind economic growth in transition economies. Nonetheless, in the longer run the ‘new economy’ offers great potential for faster economic growth in postsocialist economies. Realizing this potential is howeve...