The spread of free trade agreements (FTAs) in East Asia amidst slow progress in the WTO Doha negotiations has stimulated a debate over the way forward. This paper examines the region's evolving trade architecture, characteristics of FTAs and welfare implications of alternative FTA scenarios. It...

Japan’s “two lost decades” perhaps represent an extreme example of a weak recovery from a financial crisis, and are now referred to as “Japanization.” More recently, widespread stagnation in advanced economies in the wake of the global financial crisis led to fears that Japanization...

Chapter 1. The Political Economy of Asian Regionalism: Issues and Challenges (Giovanni Capannelli and Masahiro Kawai) -- Chapter 2. Foundations of Collective Action in Asia: Theory and Practice of Regional Cooperation (Amitav Acharya) -- Chapter 3. Asian Regionalism after the Global Financial...

Aggarwal, Vinod K.: Analyzing Japanese firms' market and nonmarket strategies in Asia Urata. Shujiro: Japan's foreign direct investment and trade in Asia Kawai, Masahiro ; Ozeki, Yuzuru ; Tokumaru, Hiroshi: Banking on East Asia : expansion and retrenchment of Japanese firms Taketomi, Tametsugu:...

This paper first reviews recent developments in exchange rate regimes, capital account liberalization, interest rate liberalization, and monetary policymaking in the People's Republic of China (PRC). It then observes that the PRC's monetary policy autonomy may have been reduced with falling...

This paper assesses the impact of unconventional United States (US) and Japanese monetary policies on emerging economies, and explores policy coordination issues to promote macroeconomic and financial stability in developed and emerging economies. The paper first considers a theoretical...

The Japanese government's response to the financial crisis in the 1990s was late, unprepared and insufficient; it failed to recognize the severity of the crisis, which developed slowly; faced no major domestic or external constraints; and lacked an adequate legal framework for bank resolution....