The paper argues that the macro focus of the literature on the Asian crises is not helpful in understanding the causes of the crises. The actual causes lie deeper in the operation of the real, that is, the corporate sector. In this context, the paper analyzes the micro behavior of individual firms.

This paper assesses the social impact of the Asian Financial crisis, drawing on the results of studies in six countries, namely, Indonesia, Republic of Korea, Lao People's Democratic Republic, Malaysia, Philippines, and Thailand. The impacts appear to be less than were anticipated early in the...

This paper surveys the empirical literature on total factor productivity (TFP) and the sources of growth in the East Asian Countries. It raises the queston whether the literature has helped us understand better the factors that have propelled growth in the region. The paper discusses the main...

In this paper a framework of tax reform requirements for Viet Nam is developed based on theories of taxation, particularly Optimal Tax Theory, and International Tax Reform Experience in market and transitional economies. The framework is then used to analyze the structure and system of taxation...

The ninth Round of multilateral trade negotiations (MTNs) is to be launched at the end of November 1999 in Seattle. It is essential for the Asian Economies, particularly those that are known to be sucessful exporters, to participate in this Round skillfully because what transpires tin the Rouns...

This paper outlines an expanded and more challenging role for multilateral development banks (MDBs) in the provision of longer term development finance. The traditional role has to be further refocused and expanded to cover mobilization of private sector resources, both external and internal.

Given its fragile balance of payments position and urgent need to boost industrial production, Pakistan needs to significantly increase its mobilization of foreign resources. However, long-term official assistance will become increasingly scarce, while promoting large portfolio investments is...

The paper analyzes the process of urben-rural transition under way in Vietnam in the context of its transition to a market economy. In managing this process of change, the government will face important choices on the patterns of urban and rural development and the linkages between the two....