The East Asian countries achieved extraordinarily fast economic growth during the last four decades. Indeed, it would be no exaggeration to say that they represented the most successful case of rapid industrialisation and sustained economic growth in the history of mankind. An economy like South...

Abstract Although in the post-World War II period as a whole, developing countries have made substantial economic and industrial progress, during the last decade or so, many of them, particularly in Latin America and Africa, have been in an acute economic crisis . As a consequence, these...

Abstract East Asian countries have been catching up with the West for most of the post-war period. Indeed, during the last 15 years, developing East and South East Asia have emerged as the most dynamic region of the world economy. This paper attempts to make analytical sense of this...

This paper is concerned essentially with the question, how does financial globalisation affect welfare? Orthodox theory suggests that because of greater risk-sharing between countries that financial liberalisation entails, there should be no welfare losses. Greater risk sharing should lead to...

This paper comprises the long introduction to the symposium of five papers on financial globalisation published in the Cambridge Journal of Economics, volume 34, no 2. The paper discusses the impact of financial globalisation in a variety of spheres and shows how the five papers link together to...

ABSTRACT This paper is concerned essentially with the question, how does financial globalisation affect economic welfare? Orthodox theory suggests that because of greater risk-sharing between countries that financial liberalisation entails, there should be no welfare losses. Greater risk sharing...