East Asia is characterized by intricate production and distribution networks that allow fragmented production blocks to be allocated across countries based on comparative advantage. These networks have produced enormous efficiency gains. Exchange rate volatility, by increasing uncertainty, may...

This paper traces the effects of the “East Asian Miracle,†the 1997–1998 Asian Crisis, the recovery, and the 2008–2009 global financial crisis on ASEAN countries. It also considers how ASEAN countries can sustain growth by leveraging production networks to facilitate...

Trade Protection in the United States analyzes the history of US trade policy to explain why interest groups are able to foster protectionist policies despite the advantages which free trade offers consumers. The authors also explain why the principles of managed trade – as epitomized in the...

This paper investigates import demand in East Asia. Estimating exchange rate elasticities for countries in the region is difficult because many imports are used to produce goods for re-export. An exchange rate appreciation that reduces East Asian exports will also reduce the demand for imported...

This paper traces the effects of the “East Asian Miracle,†the 1997–1998 Asian Crisis, the recovery, and the 2008–2009 global financial crisis on ASEAN countries. It also considers how ASEAN countries can sustain growth by leveraging production networks to...