Two big questions from 20 years ago look somewhat different today. First, would the long-term trend of globalization continue? Contrary to all predictions, trade growth has slowed markedly since the Global Financial Crisis of 2008-09. But the feared increase in protectionism did not materialize,...

Estimates of growth equations have found a role for openness, particularly in explaining rapid growth among East Asian countries. But major concerns of simultaneous causality between growth and trade have been expressed. This study aims to deal with the endogeneity of trade by using as...

New regional initiatives abound, both outside Asia and within. Free Trade Areas in the West - notably NAFTA, its possible enlargement into an FTA of the Americas, and the European Union - have implications for Asia. Asian manufacturers will experience trade diversion, especially in textiles and...