The global economic crisis has revealed that growth in East Asia is highly vulnerable to slowdown in exports to major advanced economies. This paper shows that in precrisis years, at least one third of growth in the Peoples Republic of China was due to exports, and this proportion was even...

Previous empirical work on the effect of government intervention on economic performance has used government spending as a proxy for intervention. This proxy is imperfect as many East Asian economies have low levels of government spending but high levels of government intervention. This paper...