This paper has two main objectives. First, it assesses and measures the gaps inthe stock of human capital across the world. It presents how effectivelydifferent regions are improving their stock of human capital, and how long itwill take for developing countries to catch up with the current...

As Asia consolidates the economic gains and policy lessons of twogenerations, it can look to a bright future of sustained growth. More effectivepolicies will even accelerate this growth, provided they recognize the essentialagents of trade and productivity growth, as well as the importance...

This paper analyzes the impact that terms of trade (TOT) are likely to have onthe growth of the People’s Republic of China's (PRC) neighboring countries.Two scenarios employing a dynamic computable general equilibrium (CGE)framework are considered: (i) a convergence scenario, where historical...

Using a dynamic global general equilibrium model, the paper assesses theshort- and medium-term impacts of the global financial crisis for Asianeconomies and the implications of post-crisis adjustment in East Asia for theworld economy. The analysis suggests that East Asia may not be severely...