This technical paper presents the complete technical specification of the current version of the RE-GEM (<I>R</I>egional and <I>E</I>nvironmental <I>G</I>eneral <I>E</I>quilibrium <I>M</I>odel) for India. The document lists all the key structural and behavioural equations, providing a justification for the chosen model...</i></i></i></i></i>

This technical paper presents the complete technical specification of the current version of the RE-GEM (Regional and Environmental General Equilibrium Model) for India. The document lists all the key structural and behavioural equations, providing a justification for the chosen model...

Latin American sovereign bonds represent a significant share of the emerging debt class (50 per cent by early 2001) and so have considerably shaped the dynamics of this market. Recent financial turmoil, contagion episodes and investors’ renewed concerns with debt default call for a better...

During the 1990s, China has experienced a surge in imports of services, particularly those of communication, insurance and other business services, despite the fact that the authorities have maintained a plethora of restrictive measures limiting access to the service sector. Not only does this...

This paper discusses major policy issues related to commodity dependence and export diversification in low-income countries. Contrary to some widely-held view, it argues that natural resources are not necessarily a “curse” — that they do not condemn low-income countries to underdevelopment...

In this paper we aim to answer the following two questions: <I>1) has the Common Monetary Area in Southern Africa (henceforth CMA) ever been an optimal currency area (OCA)? 2) What are the costs and benefits of the CMA for its participating countries?</I> In order to answer these questions, we carry...</i>

China is emerging as a leading Pacific economy in the 1990s. This paper examines the implications of China's entry into the world market for the OECD countries as well as for the regional economies of Asia and the Pacific. It argues that the shares of Asian countries in the OECD countries'...

Three novel macroeconomic policy challenges are discussed in this paper: the macroeconomic implications of China’s emergence; the implications of intensifying financial integration; and the interaction of Asia’s foreign exchange regime with monetary policy in the OECD area. First, China may...

The present paper examines the trade development of Pacific-Asian economies during the past decade from the perspective of regional integration. Its main focus is on the development of intra-regional and intra-industry trade. It provides some statistical evidence for the often-heard argument...