Asia’s economic success over the past four decades has been built on a strategy of export promotion coupled with trade opening. Poverty rates throughout the region have fallen dramatically, especially in countries that have succeeded in integrating into regional or global value chains....

Asia’s economic success over the past four decades has been built on a strategy of export promotion coupled with trade opening. Poverty rates throughout the region have fallen dramatically, especially in countries that have succeeded in integrating into regional or global value chains....

Management of capital inflows has unexpectedly become a major challenge in transition economies. These countries were expected to have an insatiable demand for foreign capital, and an excess demand for capital inflows was, therefore, predicted by most observers. Foreign investors are also known...