“The effect of great and sudden wealth on the tiny desert states of the (…) Gulf has been remarkable", says P. Mansfield. In the kingdom of Saudi Arabia it has produced one of the most extraordinary phenomena of the twentieth century. It is not only that a state which was one of poorest on...

The prospects and value of economic integration and regionalism in Asia are increasingly evident in what could turn out to be ‘the Asian Century’. It is within this context that this important book explores the critical economic issues, security concerns and political themes pertinent to...

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...