We estimate the response of Asian stock market prices to exogenous monetary policy shocks using a vector error correction model. In our paper, monetary policy transmits to stock market price through three routes: money by itself, exchange rate, and inflation. Our result points to the fact that...

Certificates are widely used as a signaling mechanism to mitigate adverse selection when information is asymmetric. To reduce information asymmetry between lenders and borrowers, Chinese peer-to-peer (P2P) lending platforms encourage borrowers to obtain various kinds of credit certificates. As...

Tajikistan's outlook for small and medium-sized enterprises (SMEs) remains challenging as it continues to recover from economic downturn. The SME sector is small but steadily growing in terms of value addition and share of total employment, although access to finance remains poor and financial...

This paper investigates the role of punctuation in the peer-to-peer (P2P) lending market. Using data from Renrendai, one of the largest P2P lending platforms in the People’s Republic of China, we investigate how the amount of punctuation used in loan descriptions influences the funding...

This study examines the recently revived credit guarantee fund (KGF) mechanism in Turkey from a comparative historical perspective and identifies the structural features of the Turkish economy that complicate access to finance for SMEs. The banking-based financial system in Turkey, state banks...

Asia faces very large infrastructure funding demands, estimated at around US$750 billion per year for energy, transport, telecommunications, water, and sanitation during 2010-2020 (ADB/ADBI 2009). Asia has large savings, significant international reserves, and rapid accumulations of funds that...

Confronted by the current global economic crisis, Taipei, China's economy has suffered much like its neighbors. However, Taipei, China is different from other East Asia economies in several aspects. First, Taipei, China's industrial organization is dominated by small and medium-sized enterprises...

This paper discusses the financial landscape of the Association of Southeast Asian Nations (ASEAN), a region engaged in building an economic community (a "single market and production base") by 2015. In particular, it reviews where ASEAN's financial markets and institutions now stand and...

This study assesses the impact of the COVID-19 pandemic on micro, small, and medium-sized enterprises (MSMEs) and the role of Fintech, in particular mobile financial services (MFS), in their recovery from COVID-induced losses. The study uses data from a survey of 216 MSMEs from Bangladesh Small...

This study examines the role and effectiveness of the several modes of financial inclusion and technology for uninterrupted economic and business activities during the COVID-19 pandemic. The study is based on empirical analysis through statistical estimation of four mathematical equations. The...