One of the most significant recent developments in world trade has been the entry of China into the World Trade Organization (WTO). This paper examines the implications of China's WTO accession for India's trade, using both econometrics and computable general equilibrium (CGE) models. The paper...

This Selected Issues paper assesses the impact of Vietnam’s World Trade Organization (WTO) accession. It describes the main terms of Vietnam’s accession as regards trade in goods and services, and uses a partial equilibrium simulation model to estimate the likely impact of WTO...

Austria’s recession had limited effects on unemployment. Investment declined sharply but consumption helped cushion the recession, supported by tax cuts and various labor market measures together with large increases in real wages. Austria’s fiscal position has weakened...

This note is on Korea’s transition to a knowledge-based economy, the prospects and challenges ahead, and the development of its financial sector. Assessment of recent government initiatives to develop capital markets has been presented. The note discusses restrictions on Chaebol ownership...

This 2009 Article IV Consultation highlights that the global financial crisis, which began to affect the economy of San Marino in the second half of 2008, is likely to continue to do so in 2009–10. Short-term vulnerabilities in the financial sector have risen owing to exposure of the...

This paper develops a model merging the monetary approach to the balance of payments and a neoclassical growth model into a unified framework in which inflation, growth, and the balance of payments are simultaneously determined. The empirical part of the paper presents estimates of the key...