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Land trust laws as a solution to the land acquisition dilemma for infrastructure development in Asia
Many developing countries struggle with the dichotomy of acquiring land for infrastructure development and balancing landholder interests. Industrialization of rural villages across developing Asia (particularly in India) has created widespread social and political tensions in the recent past. Most of these are attributed to land acquisition (Sarkar 2007). The “right” of sovereignty on land has long been a contested subject. Even in democracies, the exigencies of collective benefit versus individual land rights have been at loggerheads. In the long run, growth dividends from infrastructure development and industrialization are likely to materialize (Paul and Sarma 2017), and acquisition of land to facilitate this process remains one of the main development challenges in many Asian countries.
By Akihide Hirashima. Posted July 11, 2018
Japanese local government bonds or loans are viewed as secure and almost the same as Japanese Government Bonds (JGBs). The Ministry of Internal Affairs and Communications (MIC), which is responsible for matters related to local government finance in Japan, states that even though decentralization reforms have been executed and are still in progress, there are three reasons that assure the financial security of local governments.
By Azar Hasanli. Posted May 2, 2018
After the oil price crunch in mid-2014, Azerbaijan entered into a new stage of economic development. During 2004–2014, thanks to high oil prices, Azerbaijan achieved substantial growth rates, which were accompanied by improved social conditions and macroeconomic stability. Azerbaijan’s average annual growth rate during 2000–2013 of 11.3% played a key role in the improvement of the country’s international economic ranking.
Impact of Retaliatory Trade Enforcement Actions on the World Trade Organization and Trade Governance
By Soo-hyun Lee. Posted April 25, 2018
The international regulatory instruments in international trade boast a remarkable story of evolving sophistication. Their transformation from voluntary export restraint agreements showed that the world trade system was poised to keep pace with rapidly expanding trade ties and diversifying supply chains. To keep the reins on an increasingly dynamic global trade system, the General Agreement on Tariffs and Trade (GATT) sought to formalize instruments that would help keep trade balanced and fair by isolating international trade from government intervention, in alignment with the economic thinking of the period: neoliberal convergence.
By Rajeev K. Goel. Posted March 13, 2018
Foreign direct investment (FDI) is attractive, especially for developing and emerging markets, as it brings new technologies and mitigates the constraints imposed by low domestic capital formation. Lawmakers enact various policies to make such investments attractive for foreigners, and businesses often actively seek foreign collaborators. India, for instance, under the present government, has been aggressive in seeking foreign investments through its “Make in India” campaign.
The People’s Republic of China (PRC) has been liberalizing its financial system for nearly 4 decades. While it now has a comprehensive financial system with a large number of financial institutions and large financial assets, its financial policies are still highly repressive. These repressive financial policies are now a major hindrance to the PRC’s economic growth (Huang and Wang 2011).
Many aspects of motivating innovation are painfully obvious, but much research on the topic is segmented depending on the particular issue of interest and the available data for examining that issue.
It is well recognized that innovation is an important ingredient in generating the competitive advantage and long-run growth of nations, ultimately affecting their economic development. Thus, there is considerable interest in the determinants of innovation, not only in the corporate sector but also among policy makers around the world and in Asia in particular.
In a new paper, Unconventional Monetary Policy in the Asian Financial Crisis: Seeing the Crisis through Post-2008 Eyes, we reassess some of the policies central banks used during the Asian Financial Crisis of 1997–1998 in light of the responses of some advanced-economy central banks to the North Atlantic Financial Crisis of 2008. Public funding of bank recapitalizations in Thailand and the extraordinary purchase of equities in Hong Kong, China have elements of the unconventional monetary policy known as quantitative easing (QE) that has received so much attention in major advanced economies in recent years.
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