This study addresses three questions that arise in Asia when formulating, financing, implementing, and maintaining transnational linkages versus purely domestic connections. Firstly, how is optimal economic space to be defined as a useful starting point? Secondly, how can relevant criteria be...

To make Asia more economically sustainable and resilient against external shocks, regional economies need to be rebalanced toward regional demand- and trade-driven growth through increased regional connectivity. The effectiveness of connectivity depends on the quality of hard and soft...

In this paper a fiscal consolidation program for India has been presented based on a policy simulation model that enables us to examine the macroeconomic implications of alternative fiscal strategies, given certain assumptions about other macro policy choices and relevant exogenous factors. The...

This paper examines fiscal policy issues in the Republic of Korea (hereafter Korea) after the 2009 global financial crisis, including the timing of fiscal policy responses, the effectiveness of expansionary measures, and the long-term implications for government debt. In order to evaluate more...

This paper summarizes the conceptual rationale for investment liberalization to fully exploit the potential of regional trading arrangements. It goes on to examine the treatment of investment in emerging FTAs/RTAs in the Asia-Pacific region and the specific investment provisions and their...

There is tremendous momentum for economic and financial integration in East Asia today. Partly inspired by the formation of the European Union and partly as a response to the 1997/98 Asia financial crisis, many East Asian countries are showing greater commitment to regional economic cooperation....

As the spread of SARS had shown last year, the longer-term goal of an East Asian Community (ASEAN, China, Japan and South Korea) may already be crystallizing much faster than was initially thought, thanks to increasing people-to-people contacts and the freer movement of goods, services, tourists...

Managing capital flows is the key policy challenge for emerging economies like India in the aftermath of the crisis. In contrast to other emerging markets who are levying capital controls, India‘s macro-monetary framework is distinguished by significant restrictions that help manage...

Managing capital flows is the key policy challenge for emerging economies like India in the aftermath of the crisis. In contrast to other emerging markets who are levying capital controls, India‘s macro-monetary framework is distinguished by significant restrictions that help manage...

Managing capital flows is the key policy challenge for emerging economies like India in the aftermath of the crisis. In contrast to other emerging markets who are levying capital controls, India‘s macro-monetary framework is distinguished by significant restrictions that help manage...