Commentaries

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Senior Fellows/Fellows, 2020, Pandemic

Mitigating COVID-19 Risks to Sustain Growth

Neng WANG, Jinqiang YANG, Harrison HONG
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Annual Conference

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Investment Finance

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May 2019

Mispricing in the Global Market: A New Perspective

Hong ZHANG, Massimo MASSA, Yang (Gloria) YU
The determination of asset prices and the identification of related economic grounds are considerately more intricate in the global market due to the potential market segmentation and frictions. In this paper, we propose and test a novel intuition that cross-country mispricing can be identified when...
Keywords: Massimo MASSA, Yang Gloria YU, Hong ZHANG
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Annual Conference

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Economic Transformation of Asia

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May 2017

Misallocation due to Inefficient Exits: Evidence from India

Nirupama KULKARNI
An efficient market economy requires firm exits so that resources are lured or forced away from unproductive uses. Creditors’ ability to seize defaulters’ assets is an important aspect of making the process of exit of firms efficient. I examine the implications of suppressing the normal competit...
Keywords: Misallocation, Access to credit, Bank Credit, financial institutions, firm performance
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Senior Fellows/Fellows

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Senior Fellows/Fellows

Microfinance and Entrepreneurship at the Base of the Pyramid

Pushan DUTT, Jasjit SINGH
There continues to be substantial debate on whether and how providing inclusive access to finance through microcredit promotes entrepreneurship-led development at the base of the pyramid. We contribute to this literature by examining differences in household-level outcomes associated with microfinan...
Keywords: Necessity Entrepreneurship, Microenterprise, Microfinance, Microcredit, Base of the Pyramid (BOP), Emerging Economies, economic development, Access to Finance
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Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Dec 2021

Merger Analysis in the App Economy: An Empirical Model of Ad-Sponsored Media

Kohei KAWAGUCHI, Toshifumi KURODA, Susumu SATO
In the mobile app market, multiple monetizing policies such as paid and free ad-sponsored models co-exist. This paper proposes a novel model of ad-sponsored media with endogenous business model choice, that is applicable to the mobile app industry. The model defines an equilibrium over consumers’ ...
Keywords: Merger simulation, market definition, SSNIP, antitrust policy, ad-sponsored media, platform transaction fee, app economy, distributed word representation.
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