Traditional export processing zones are fenced-in industrial estates specializing in manufacturing for exports. Modern ones have more flexible rules, such as permitting more liberal domestic sales. They provide a free-trade and liberal regulatory environment for the firms involved. Their primary...

The authors examine the implications of the East Asian currency crisis for exchange rate arrangements in the region's emerging market economies. They focus on the roles of the U.S. dollar, the Japanese yen, and the euro in the emerging East Asian economies'exchange rate policies. They claim that...

The purpose of this paper is to identify the factors which determine the strength of commitment that policymakers choose to back up a fixed exchange rate system. In practice the commitment level is achieved by choosing a particular set of monetary and exchange rate arrangements. The authors...

The salient characteristics of emerging market economies coupled with the increasing adoption of inflation targeting in these countries has stimulated much debate about the role of the exchange rate in inflation targeting regimes. The authors aim at shedding more light on this issue by...

The author uses a simple general equilibrium model to derive a forward-looking linear solution for the premium on the black market for foreign exchange in Sudan. His solution accounts for the long-run fundamentals of the premium that operate through the current account balance. It also accounts...

The significant operational implications underlying the Bank's estimates of per capita GNP, represent important considerations in systematizing the use of official rates in determining the exchange rate to be used in the Atlas methodology. This paper discusses issues and procedures to develop a...

Japanese direct foreign investment (DFI) in developing countries has been export market oriented. Exports were the dominant sales destinations for the affiliates in the primary industries. In manufacturing, although local markets were the dominant sales destinations of the Japanese affiliates,...

The authors critically review the literature on the net domestic (within-country) economic benefits of protecting tropical forests, focusing on hydrological benefits and the production of nontimber forest products. (The review does not consider other important classes of benefits, including...

The objective of this paper is to examine the role of fiscal policy in the management of Indonesia's environment. The aim is to develop a framework that will allow an examination of possible fiscal instruments and their relevance to Indonesia's context. It is important to note that fiscal policy...

The author evaluates the strength of the effect that community pressure and pollution charges have on industrial pollution control in China, and estimates the marginal cost of pollution abatement. He examines a well-documented set of plant-level data, combined with community-level data, to...