Recent Discussion Papers

Integrated Financial Supervision: An Institutional Perspective for the Philippines
Author: Melanie Milo

This paper looks at the issue of reforming financial regulatory structures from the New Institutional Economics perspective. The author argues that the state of financial conglomerates in the Philippines does not warrant a shift toward integrated financial supervision.

Read Discussion Paper 81.

Foreign Ownership, Technological Capabilities, and Clothing Exports in Sri Lanka
Author: Ganeshan Wignaraja

Drawing on recent developments in applied international trade and innovation and learning in developing countries, this paper examines the links between firm-level export performance, foreign ownership, and the acquisition of technological capabilities in a sample of 205 clothing enterprises in Sri Lanka. Econometric analysis indicates that foreign ownership, firm size, human capital, technological capabilities, and geographical location are all positively associated with export shares.

Read Discussion Paper 82.

Building an Integrated Capital Market in East Asia
Author: Robert McCauley

This paper takes stock of the state of financial integration in East Asia. It contrasts the international integration of equity markets, the regional integration of the markets for bonds and syndicated loans denominated in US dollars, and the insularity of most local currency bond markets.

Read Discussion Paper 83.