Economic emergence of the People's Republic of China (PRC) and India has fundamentally altered the economic landscape of Asia and its relation to the global economy. Using the new dynamic global model, we present forecasts for Asian expansion over 2025. These baseline growth forecasts elucidate...

Throughout human history, technology has proven its ability to contribute to higher material living standards, yet the work of poverty alleviation is far from complete. We believe that in the modern age, biotechnology holds remarkable potential for reducing poverty and its attendant adversities....

Trade policies can promote aggregate efficiency, but the ensuing structural adjustments generally create both winners and losers. From an incomes perspective, trade liberalization can raise GDP per capita, but rates of emergence from poverty depend upon individual household characteristics of...

Trade policies can promote aggregate efficiency, but the ensuing structural adjustments generally create both winners and losers. From an incomes perspective, trade liberalization can raise gross domestic product per capita, but rates of emergence from poverty depend on individual household...

In a series of recent papers, Neary and others have established the importance of trade in factor services, especially capital, in determining the welfare effects of import restrictions by tariffs, QRs, and VERs. In the absence of induced terms-of-trade changes and rental rate effects, Neary...

Madagascar's weak administrative system and complex tax structure (with many exemptions) have led to tax evasion and smuggling. The authors compare Madagascar's fiscal system with that of other low-income countries, noting its greater reliance on distortionary taxes. Using a 10-sector model and...

This paper sets out to test the robustness of Balassa's recommendation of neutral incentives to domestic and export sales in a setting where some sectors have domestic market power. This paper shows analytically that the welfare effects of trade policy are more complex than they are in a setting...

Drawing on evidence about industrial organization and market structure, the authors develop a computable general equilibrium model in selected industrial sectors with increasing returns to scale. They use this model to estimate the welfare gains Korea would realize from abolishing the import...