The information and communication technology (ICT) revolution of the past 3 decades has transformed the world into an integrated marketplace. Today, producers and consumers alike are able to compare the prices of local businesses and worldwide sellers. For an increasing number of tradable goods,...

This paper revisits the issue of exchange rate regimes in emerging Asia. It is divided into two main parts. The first part compares de jure and de facto exchange rate regimes in Asia over the decade 1999-2009. It finds that while Asia is home to a wide array of exchange rate regimes, there are...

This paper examines how an appreciation of the currency of the People's Republic of China (PRC) - renminbi - affects the country's exports in the context of production fragmentation, using a panel data set of the PRC's trade for 1992/93-2008/09. It constructs two exchange rates for renminbi: one...

This paper examines the prospect of realizing regional economic integration via the mechanism of a Free Trade Area of the Asia-Pacific (FTAAP). The FTAAP initiative represents a politically ambitious, high potential benefit option for achieving Asian regional integration. Among its desirable...

The People's Republic of China (PRC)'s current account surplus, its growing foreign exchange reserves, and its shifting policies on exchange rate adjustment have become a central preoccupation of United States (US) trade policy. The paper considers the evolving political economy of the US policy...

This paper revisits the issue of exchange rate regimes in emerging Asia. It is divided into two main parts. The first part compares de jure and de facto exchange rate regimes in Asia over the decade 1999–2009. The second part focuses on the sustained stockpiling of reserves in developing and...

This paper tests the hypothesis that the links and leadership/dependency relationships between the People's Republic of China (PRC), the United States (US), and the other large Asian economies have changed over the past 20 years with the industrialization of the PRC economy. We use time-varying...

This paper tests the hypothesis that the links and leadership/dependency relationships between the People's Republic of China (PRC), the United States (US), and the other large Asian economies have changed over the past 20 years with the industrialization of the PRC economy. We use time-varying...

This paper studies how East Asia's trade composition and orientation have changed over the past decade and analyzes the implications for the region and beyond. Over the last 2 decades we have witnessed the emergence of regional and global supply chains, in which production is divided into...

Pacific economies are confronted with several structural constraints that limit their economic growth, most importantly their small size and remoteness from major world markets. In this paper we study the importance of transport connectivity for Pacific economies when participating in the world...