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...

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.

There is a widespread perception that the Republic of Korea's service sector lags behind its dynamic world-class manufacturing sector. We empirically analyze the past performance of the Republic of Korea's service sector in order to assess its prospects as an engine of growth. Our analysis...