Managing Globalization in the Asian Century : Essays in Honour of Prema-Chandra Athukorala

The global centre of gravity continues to shift to the Asia-Pacific, the most dynamic region in the world. These economies have generally grown faster for longer periods of time than any other major region in world history. Their embrace of globalization has been a central feature, and driver, of their dynamism. The management of Asia-Pacific economic integration and globalization is crucial not only for the countries themselves but also for the state of the global economy, including importantly latecomer developing economies who look to the region for analytical and development policy lessons. Twenty-eight leading international authorities in the field, drawn from nine countries, provide a comprehensive examination of the causes, consequences and challenges of globalization, in a volume that celebrates the distinguished career of Professor Prema-Chandra Athukorala. Among the major issues examined are the region’s distinctive approach to trade liberalization, the effects of economic growth on poverty reduction and the labour market, the special challenges of by-passed regions, the role of ideas in influencing policy making, the modalities of connecting to global production networks, and the importance of remittances in economic development. Several country case studies provide in-depth analyses of development processes and outcomes. These include episodes in economic development, the challenges faced by transition economies, the macroeconomics of adjusting to slower growth and rising debt in advanced economies, and the so-called middle-income trap phenomenon. The global centre of gravity continues to shift to the Asia-Pacific, the most dynamic region in the world. These economies have generally grown faster for longer periods of time than any other major region in world history. Their embrace of globalization has been a central feature, and driver, of their dynamism. The management of Asia-Pacific economic integration and globalization is crucial not only for the countries themselves but also for the state of the global economy, including importantly latecomer developing economies who look to the region for analytical and development policy lessons. Twenty-seven leading international authorities in the field, drawn from nine countries, provide a comprehensive examination of the causes, consequences and challenges of globalization, in a volume that celebrates the distinguished career of Professor Prema-Chandra Athukorala. Among the major issues examined are the region's distinctive approach to trade liberalization, the effects of economic growth on poverty reduction and the labour market, the special challenges of by-passed regions, the role of ideas in influencing policy making, the modalities of connecting to global production networks, and the importance of remittances in economic development. Several country case studies provide in-depth analyses of development processes and outcomes. These include episodes in economic development, the challenges faced by transition economies, the macroeconomics of adjusting to slower growth and rising debt in advanced economies, and the so-called middle-income trap phenomenon Contents Tables Figures Contributors 1. Introduction PART 1. SPECIAL TOPICS 2. ACGE Decomposition Approach to Identifying the Effects of Trade Reform: NAFTA and the U.S. Economy Between 1992 and 1998 3. Economic Analysis versus Business Rent-seeking: The Eclipse of Analysis in Australia 4. Growth Slowdown and the Middle Income Trap in Asia 5. Workers’ Remittances, Capital Inflows, and Economic Growth in Developing Asia and the Pacific Countries 6. Development in Southeast Asia’s Lagging Regions 7. A Comparative Study of Global Production Sharing in the Automotive Industry in China and India 8. La Pesadilla Neoliberal: Why East Asia Did Not Experience a “Neo-liberal Nightmare” While Latin America Did? 9. Housing Prices, Graduates, and Income Inequality: The Case of Singapore 10. The Role of Trade in Fostering Inclusive Growth in the Asia-Pacific 11. The TPP Unveiled: The Good, the Bad, and the Ugly PART 2. COUNTRY STUDIES 12. The Japanese Macroeconomic Mystery 13. Myanmar’s Opening to the World Economy 14. Trade Policy and Industrialization in India Since the 1991 Reforms 15. Policies toward Globalization in Sri Lanka, 1960–2012: Change and Continuity 16. The Political Economy of the Rajapaksa Decade in Sri Lanka, 2005–14: Policy Contradictions and Mal-governance 17. Has Indonesia Passed the Lewis Turning Point and Does It Matter? 18. Half a Century of Indonesian Economic Development: Continuity and Change Index The global centre of gravity continues to shift to the Asia-Pacific, the most dynamic region in the world. Twenty-seven leading international authorities in the field, drawn from nine countries, provide a comprehensive examination of the causes, consequences and challenges of globalization to the region, in a volume that celebrates the distinguished career of Professor Prema-Chandra Athukorala.

Volume 18 in the Collected Works of Erasmus series covers the period from 1 April 1531 to 30 March 1532. The most persistent theme in the letters is the fear, to which Erasmus had long been prey, that the religious strife in Germany and Switzerland would eventually lead to armed conflict.