The statute of the Council of Mutual Economic Assistance (CMEA) assigns to the institutions of the council the task to promote the process of specialization and cooperation in the production sector of the national economies. The development of the relations between the member countries indicates...

We show that in a fully integrated economy, in which there is free mobility of goods and factors, each member’s share of total output will equal its shares of total stocks of productive factors (i.e., physical and human capital). We label this result the equal-share relationship. This...

After two generations of economic growth, the next phase of structural transformation for Asia will have several salient features. Our results suggest that no single policy orientation, pathway, or even destination will apply to all economies. The main driver for each economy's structural change...