The authors investigate the origins of the East Asian crisis and its contagion, examine the channels of contagion, and discuss policy recommendationsThey make detailed recommendations in the context of nine general lessons learned from the East Asian crisis. 1) Preventing crises and contagion:...

This paper shows that East Asian trade pattern exhibits a dynamic shift in the regional value chain. Several developing Asian economies including China notably gained comparative advantage in the production and exporting of medium-and-high technology products. Japan and the NIEs further deepened...

Japan can meet domestic and international challenges to its aid policies by developing a coherent national strategy for official development assistance, broadly designed to enhance partnership, effectiveness, accountability, and transparency.Japan remains the world's largest national donor of...

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