Initially, the intention of this book's work, was to take a fresh look at East Asia's regional experience during the 1990s, and to expand, and revise as necessary the findings of the World Bank's "East Asian Miracle", (published in 1993). However, while work began in 1997 - when the East Asian...

Globalization has many dimensions, mostly familiar to many such as trade, capital, labor, and knowledge. We distinguish between short-term and longterm capital flows, and between foreign direct investment and short-term capital flows. In terms of labor, we are not only interested in the flows of...

Changes in the role of collective action at the international level, in the international economic environment, and, most importantly, our better understanding of economics in general require that we rethink the role of international financial institutions (IFIs). For multilateral development...

Industrial policies have played an important role in successful development. Through these policies, governments intervene in the market's sectoral allocation of resources and choice of technologies. Earlier industrial policies had a narrow remit and made use of a limited number of instruments....

Success in development over the past half-century was based on manufacturing-led export growth. Because the share of global employment in manufacturing will decline, manufacturing won't play the same role in the coming decades. An increase in manufacturing employment won't suffice to meet the...