This paper describes some results obtained from simulating a computable general equilibrium model calibrated with 1960 data for Japan. Of the two closures used, the Keynesian type, which assumes unutilized resources, performs better than the neoclassical closure, which assumes full employment of...

The paper explores the pattern of transition of the Vietnamese economy, the policies that were applied, and the reasons for the country's success. In particular, it focuses on output performance; state-owned enterprises; foreign direct investment; determinants of inflation; dollarization and...

This paper examines stabilization policies in Vietnam, Cambodia, and Laos since the late 1980s. Compared with other transition economies, the Indochinese countries avoided an output collapse and moved quickly to strong GDP growth and low inflation. Each adopted a similar mix of policies centered...

Infrastructure investment has high economic returns, especially in ASEAN economies where enhanced connectivity is critical for their continued prosperity. Each member government needs to ensure infrastructure gaps are narrowed through both the government’s own funding and public-private...

The region has been transformed by these developments, changing from a set of countries that rapidly integrated with the world to one that is also aggressively exploiting the sources of dynamism that lie within Asia. But countries in East Asia now face the domestic side-effects of rapid growth...

The risks of falling into the Middle Income Trap have increasingly become a focus of discussions on the long-term economic and social development prospects of developing countries. These risks, and how to minimize them, are being debated at the highest levels of policy making in some of the...