Books reviewed: Michael Borowitz, Elizabeth Wiley, Fadia Saadah and Enis Baris, Addressing HIV/AIDS in East Asia and the Pacific Paul Glewwe, Nisha Agrawal and David Dollar (eds), Economic Growth, Poverty, and Household Welfare in Vietnam Will Martin and Mari Pangestu, Options for Global Trade...

Over the last decade the global economy has been on a dynamic path with ever-increasing US current account deficits financed by emerging market surpluses. This report argues that the forces driving this development are now abating and might even reverse soon, forcing an adjustment in asset...

This paper analyzes the behavior of closed-end country fond discounts, including evidence from the Mexican and East Asian crises. We find that the ratio of fund prices to their fundamental value increases dramatically during a crisis, an anomaly that we denote the quot;closed-end country fund...

With interest rates at zero where they are expected to remain for a long time, and with the main risk being that inflation is too low, fiscal policy must be active and contribute to cyclical stabilisation