During the first three decades following the Second World War, an increasingly open international trading system led to unprecedented economic growth throughout the world. But in recent years, that openness has been threatened by increased protectionism, regional trading arrangements—Europe...

The international flow of long-term private capital has increased dramatically in the 1990s. In fact, many policymakers now consider private foreign capital to be an essential resource for the acceleration of economic growth. This volume focuses attention on the microeconomic determinants and...

There is no doubt that the open multilateral trading system after World War II was a key ingredient in the rapid economic development of the entire world. Especially in Hong Kong, Korea, Singapore, and Taiwan, exports increased dramatically both in absolute terms and as a percentage of GNP. In...