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investment, rose sharply while that of Japan fell. On the supply side, the paper documents the rise of China into a â …€œglobal factory†and the steady shift in regional production and integration from Japan and the United States to China. …, including the United States, to China and ROW. In addition, the share of China in East Asia’s final demand, especially …
Persistent link: https://www.econbiz.de/10008533222
The establishment of the ASEAN Economic Community (AEC) at end-2015 has brought into sharp focus the issue of financial and economic integration in the region. This paper takes stock of ASEAN’s financial integration and prospects. ASEAN integration could accelerate in the years ahead; it...
Persistent link: https://www.econbiz.de/10011242386
The macroeconomic environment is sound, with low inflation and a comfortable external position, although the fiscal position remains a concern for the medium term. The authorities have successfully privatized and liberalized the telecommunications, energy, and transportation sectors. Moreover,...
Persistent link: https://www.econbiz.de/10011244655
This 2008 Article IV Consultation highlights that South Africa’s economic performance has strengthened in the last several years, with real GDP growing by 5–5½ percent in 2005–07, inflation declining to mid-single digits until recently, and employment growing steadily....
Persistent link: https://www.econbiz.de/10011245284
Persistent link: https://www.econbiz.de/10005252526
Central America has received growing attention as a region that is integrating successfully into the global economy. This paper examines—among other things—the macroeconomic and fiscal implications of the Free Trade Agreement with the United States (CAFTA-DR), noting that the...
Persistent link: https://www.econbiz.de/10005252532
This Selected Issues paper and Statistical Appendix on Jordan underlies stabilization and structural transformation of the economy. Current fiscal policy appears to be broadly sustainable and should be sufficient to allow for the continued fall in the debt burden, absent large external...
Persistent link: https://www.econbiz.de/10005252563
Macroeconomic developments in the Central African Economic and Monetary Community (CEMAC) region have been satisfactory, but risks to macroeconomic stability persist. The process of convergence remains slow and needs strengthening, notably through the adoption of a fiscal rule and the...
Persistent link: https://www.econbiz.de/10005252643
This 2004 Article IV Consultation highlights that after a period of prolonged weakness in economic activity, persistent deflation and rising fiscal deficits, the macroeconomic outlook for Hong Kong Special Administrative Region has improved significantly since mid-2003. The recovery has gained...
Persistent link: https://www.econbiz.de/10005252759
We study the performance of the four Western Hemisphere trading blocs during the period 1978-2001. For the North American Free Trade Agreement (NAFTA), trade integration outweighed trade diversion; for MERCOSUR, increased integration and trade diversion went hand in hand; for the Central American...
Persistent link: https://www.econbiz.de/10005263690