Abstract
Thirteen papers analyze long-term implications of Asia's increased influence in global markets and emergence as a center of global economic growth. Papers discuss technology policy for sustained Asian dynamism; whether demographic change will undermine Asia's growth prospects; alternative growth strategies in Asia--liberalization, deregulation, and structural reform; regional trade agreements in integrating Asia; governance and financial integration in East Asia; patterns and determinants of financial integration in Asia; the move from crisis to crisis--changing capital flows and foreign exchange reserves in Asia; monetary policy and exchange rate stability in East Asia; perceptions of economic interdependence--the view of Asian opinion leaders; how Asia can benefit from the European experience; South Asian integration--prospects and lessons from East Asia; Asia in global economic governance--a case for decentralized institutions; and deepening Asian integration and the architecture for regional cooperation. Kawai is Dean and CEO of the Asian Development Bank Institute. Lee is Professor in the Economics Department of Korea University. Petri is Carl J. Shapiro Professor of International Finance at the Brandeis International Business School and Senior Fellow of the East-West Center, Honolulu. Index.