This volume offers a rousing defense of pro-free-trade policies and their benefits for developing countries. Through cross-country evidence and detailed case studies, Arvind Panagariya demonstrates the need for trade openness for sustained growth and poverty alleviation.

This paper tests a neo-Schumpeterian model with industry-level data to analyze how Brazil, India, and China are catching up with South Korea’s technological frontier in a globalized world. The paper validates Aghion et al.’s inverted-U hypothesis that industries that are closer to the...

"Economic growth, inflation, and interest rates have declined in Asia. Sustaining Economic Growth in Asia explores the relevance to several Asian economies of the diagnosis known as "secular stagnation." Leading experts discuss the fiscal and monetary policy challenges of reviving growth without...