Current projections envision Asia’s emerging economies becoming the largest economic group in the world in the next two decades. Yet many observers warn that Asia's growth processes are unsustainable and could be headed for the “middle income trap.” This paper examines past growth engines...

This paper develops a model of foreign direct investment (FDI) in a computable general equilibrium (CGE) framework by distinguishing between the activities of domestic and foreign-owned firms in both production and demand. Using a variant of the Armington assumption, the model is implemented by...

The Regional Comprehensive Economic Partnership (RCEP) agreement, signed in November 2020, comes shortly after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) entered into force and the US-China Trade War escalated. We use a computable general equilibrium model...