The past few decades have seen an increasing amount of debate concerning economic integration within East Asia1, with the backdrop of rapidly growing economies in Asia2. The economic integration in Asia has, it seems, progressed in terms of the evolution of the international division of labor amongst such countries as China, Japan, South Korea, and other ASEAN countries, along with increases in...

This paper suggests, first, that a simple theoretical framework is useful in explaining financial crises in emerging economies. Second, it reviews the East Asian financial crises of 1997-98 . Third, the paper examines the origins of Argentina’s crisis of 2001-02. Fourth, it presents a comparative analysis of both crises, highlighting their similarities and differences. Finally, the conclusions ...

In this paper, an examination is made of the linkage between foreign direct investment and productivity in eight East Asian economies–China, Hong Kong SAR, Indonesia, Malaysia, Republic of Korea, Singapore, Taiwan Province of China and Thailand. The Granger causality test and the Toda-Yamamoto version of the Granger causality test are used to test if inflows of foreign direct investment “cause”...

We analyse cross-country trends in several aspects of technological progress during 1980-2011 by examining the US patent citations data. Our estimation results on patent quality and citation lags relative to the US reveal the following. The emerging Asian economies of Korea, Taiwan and China have achieved substantial catch-up. In the case of Korea and Taiwan, progress has been made in both pate...

Over the past four decades the High Performing Asian Economies (HPAE) have followed a development strategy based on the exposure of their local markets to the presence of foreign competition and on an outward oriented production. In contrast, Latin American (LATAM) economies began taking steps in this direction only in the late eighties and early nineties, but before this period these countries...

We are living in an age of remarkable technological change that is forcing us to think very hard about the linkages between technology and economic development. The harder we think about it, the more we realize that technological innovation is almost certainly the key driver of long-term economic growth. We further realize that the innovation process must be supported by a complex set of social...

The economic ramifications of the creation of a knowledge-based economy (KBE) are that it would increase the competitiveness of a country and at the same time increase its stock of knowledge for future economic innovations. Economists have now shifted their focus to the creation and diffusion of knowledge to explain the varying levels of this economic growth and development. In the last couple ...

Over the past four decades the High Performing Asian Economies (HPAE) have followed a development strategy based on the exposure of their local markets to the presence of foreign competition and on an outward oriented production. In contrast, Latin American Economies (LATAM) began taking steps in this direction only in the late eighties and early nineties, but before this period these countries...

In the summer of 1997, when the Federal Reserve Bank of Boston selected the topic for its forty-second annual economic conference, many pundits were asking: “Is the business cycle dead, or at least permanently dampened?” By the time the Bank’s conference convened in June 1998, the same pundits queried: “What caused the massive recessions in Asia?” and “Can the United States remain ‘an oasis of ...

When comparisons in terms of industrial policy lessons to be learned have taken place, it has tended to be solely vis-a-vis the ‘development state’ East Asian experience. This paper broadens the analysis and considers lessons which 1 From a poem by William Blake (1757–1827). African countries can learn fro other so-called ‘tiger’ economies including Ireland and the East and South Asian countrie...