This study compares actual dicrections of structural adjustment in the Russian Far East since the collapse of the former Soviet Union with estimated directions of adjustment that would be predicted to follow an opening of the region to the world market.

This study compares actual dicrections of structural adjustment in the Russian Far East since the collapse of the former Soviet Union with estimated directions of adjustment that would be predicted to follow an opening of the region to the world market.

This note tests the rational expectations-permanent income hypothesis for the six ASEAN countries using the methodology developed by Hall and Flavin. The statistical evidence rejects the hypothesis for each country except Singapore.