Ensuring stable growth in the postcrisis world economy will require a rebalancing of economic activity in several countries. In Asia's export-dependent economies, this entails relying more on private domestic demand as a driver of growth. While some countries need to raise consumption, several...

This paper studies structural changes underlying China's remarkable and unprecedented growth in recent years. While patterns of structural transformation across China's provinces are broadly in line with international experience, one important difference is in labor productivity differentials...