country-studies on China, India, Indonesia and Vietnam, and sub-region studies on East Asia, Southeast Asia and South Asia …

It is arguable that the most important event in the world economy in recent decades has been the rise of China, from … being on a par with Sub Sahara Africa at the start of economic reform to being an economic superpower today. That rise … nationally representative China Household Income Project (CHIP) surveys, conducted for the years 1988, 1995, 2002, 2007, 2013 …

that macroeconomic stabilization, structural reform, and reduction of government expenditures are key to achieving … sustainable growth. Although the initial effect of reforms on output may be negative, over time the best growth performances are … in those countries with the greatest progress in implementing reforms. The analysis also confirms that although adverse …

, highlights the nature of the challenges ahead, and draws implications for the next phase of reforms. The authors conclude that …

were ones that supported financial stabilization and structural reforms in key areas such as private sector development …