This paper examines the progress made in four Asian transition economies China, Lao P.D.R., Vietnam, and Mongolia to market-based systems. Overall, these economies appear to have had a more favorable experience with inflation stabilization and output growth than that of transition economies...

During 2001-07, increases in mature market volatility were associated with declines in forex returns for East Asian countries, consistent with an overall quot;flight to safetyquot; effect. Estimates from GARCH models suggest that a 5 percentage point increase in mature market equity volatility...

Since the Asian crisis of the late 1990s, many well-documented trends have irrevocably altered the global economy-the rise of China, the relative decline of Japan, and the consumption boom in the United States that culminated in the global financial crisis beginning in 2008. Behind these trends...