Globalization and East Asia: Opportunities and Challenges

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Learn to apply the strategies used in East Asia’s phenomenal economic expansion The phenomenal economic growth of many countries in East Asia has no historic parallel. Globalization and East Asia: Opportunities and Challenges examines different aspects of the economic performance of the region over the past three decades, with a focus on what it takes to replicate the experience elsewhere.... Read more

Learn to apply the strategies used in East Asia’s phenomenal economic expansion

The phenomenal economic growth of many countries in East Asia has no historic parallel. Globalization and East Asia: Opportunities and Challenges examines different aspects of the economic performance of the region over the past three decades, with a focus on what it takes to replicate the experience elsewhere. Nineteen of the finest presentations from the 12th International Conference of the International Trade and Finance Association in Bangkok, Thailand, have been carefully selected and revised by their expert authors, providing powerful, practical economic development approaches that can be used to develop other economies.

This comprehensive volume presents an insightful four-part view of the intricate economic workings of East Asia. The first part introduces the distinctive qualities of the policies that sparked economic growth and development. Part two provides comparative studies of different countries and industries in the region and an in-depth study of the East Asian area over the past fifty years. Part three presents sector specific studies within several countries, focusing on international finance. The fourth part spotlights important industry-specific elements and explores the future of globalization in relation to its effects on East Asia. Each chapter is extensively referenced, and several use tables and charts to clearly reinforce crucial points.

Globalization and East Asia includes topics such as:

the characteristics of East Asian economic growth—and how other areas will benefit
the rapid economic growth of the region since the end of World War II
an evaluation of efficiency and leveraging of assets comparing the United States and the Four Dragon (FD) industries
structural weaknesses within Asian countries
trade flows between the United States and Thailand— a bilateral study
the progress of APEC’s environmental cooperation
financial resource flows during the 1990s
Malaysian financial markets and the Asian financial crisis
China’s economic transition and exchange rate policies
the use of dual production theory as a model in the world economy
Thailand’s telecommunications sector—and how it provides illustration for other sector specific industries in developing countries
development of bilateral trade negotiations between the United States and Vietnam
the status of United States apparel imports

Globalization and East Asia is important, insightful reading for researchers, scholars, and professionals specializing in regional economics and economic development. Read less

About the Editor
Contributors
Preface
Part I: Introduction
Part II: Comparative Studies
Part III: International Finance
Part IV: Industry-Specific and Future Research
Acknowledgments
PART I: INTRODUCTION
Chapter 1. East Asian Economic Performance in Retrospect (M. Raquib Zaman)
Introduction
The East Asian “Miracle”
The Financial Crises of 1997 and 1998 and the Aftermath
Lessons from the EAC Model of Economic Development
Chapter 2. East Asia: The Growth Center of the Late Twentieth Century (H. Peter Gray)
Introduction
Borrowed Growth
The Benefits of Open Industrialization in a Macroregion
The Importance of Social Organization
Conclusion
PART II: COMPARATIVE STUDIES
Chapter 3. Comparative Advantage Recycling and Clustered Growth: The Flying-Geese Paradigm of Tandem Catch-Up on the Pacific Rim (Terutomo Ozawa)
Introduction
Hegemon-Led Macroclustering and the Flying-Geese Paradigm
Evolutionary Patterns of Trade and Investment
Theory of Comparative Advantage Recycling
The Krugman and Sachs Puzzles
Final Remarks
Chapter 4. The Relative Efficiencies of U.S. and Pacific Rim Industries: The Case of the Four Dragons (Parviz Asheghian)
Introduction
The Limitations of the Study and the Sample Size
The Testing of Hypotheses
Concluding Remarks
Chapter 5. Asian Structural Differences and Comparative Economic Performance (Vincent Dropsy and Dennis Pollard)
Introduction
Structural Differences in Asia
Methodology
Empirical Results
Conclusions
Chapter 6. The Asian Influence: An Analysis of Trade Flows Between the United States and Thailand in the Home Furnishings Industry (Kennita Kind)
Introduction
Purpose
Part I
Part II
Implications for Future Research
Chapter 7. Trade and Environment Issues in APEC (Antonina Ivanova and Manuel Angeles)
Introduction
Trade Liberalization, Economic Integration, and the Environment
Environmental Costs of Rapid Growth
Evolution of APEC’s Environmental Agenda
The Trade-Environment Interface
Economic Integration and the Harmonization of Environmental Policy
Toward Common Principles in APEC’s Environmental Agenda
Conclusion
Chapter 8. Financial Resource Flows, the Exchange Rate, and Trade: Recent East Asian Experience (Glenville Rawlins and Chandana Chakraborty)
Introduction
The Nature of Capital Flows
The Impact of Capital Inflows and the Policy Response
Causal Link Between FDI, Trade, and Exchange Rate
Empirical Analysis
Conclusion
PART III: INTERNATIONAL FINANCE
Chapter 9. Emerging Trends in Asian Financial Markets: Evidences from Malaysia (Rajesh Mohnot and Wan Fadzilah Wan Yusoff)
Introduction
The Malaysian Financial System Structure
Developments in Financial Markets
Derivative Markets
Financial Markets and Economic Implications
Conclusion
Chapter 10. The Impact of Globalization on Economic Transition in China (Joanna K. Poznanska)
Economic Performance
Liberalization Process
Globalization Impact
Conclusions
Chapter 11. The Exchange Rate of Chinese Yuan: Before and After WTO Entry (Robin H. Luo and Yunhua Liu)
Introduction
Approaches to Measuring Equilibrium Real Exchange Rate (ERER)
Misalignment of Chinese Yuan and China’s Trade Balance
Forecast and Conclusion
Chapter 12. Trade Elasticities of the

Author(s)

Biography

Kaynak, Erdener; Fatemi, Khosrow

Globalization and East Asia Opportunities and Challenges

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Table of Contents

Author(s)

Biography

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