Using an early warning system model, this paper provides empirical evidence on the causes of the 1997 Asian financial crisis, with a view to shedding light on policy lessons. The model shows that there were warning signals of heightened economic and financial vulnerabilities in each of the five...

The authors examine trends in foreign capital resources in the Asian developing countries and assess their contribution to economic growth and impact on economic efficiency. They also consider measures that might be adopted by the countries concerned to sustain inflows of market-oriented private...

This paper provides a quantitative analysis of how the changing dual economic structure and urbanization affect inequality in Asia. Focusing on data for four countries-the Peoples’ Republic of China, India, Indonesia, and the Philippines-the paper asks three questions. First, how much of the...

There are significant income and nonincome development gaps around theworld. Closing these gaps will require not only increasing and sustainingeconomic growth in low-income regions, but also policies that closenonincome development gaps directly. Governments need to support privateinvestment and...