After discussing the analyties open-economy adjustment, the authors examine the implications of the open capital account for Indonesia's adjustment, present the empirical estimates of a macroeconomic model and use the model to illustrate the nature of external adjustment necessary to ensure the...

This volume examines the dichotomy between the two faces of South Asia - one poverty stricken and lagging in development, the other highly urbanized and growing rapidly - and tries to find a workable solution to bridge this gap. It looks at the many policy and institutional constraints that...