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CONTENTS About the Editor Contributors Preface Acknowledgments PART I: INTRODUCTION Chapter 1. East Asian Economic Performance in Retrospect 3 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 xi 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 59 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 73 Vincent Dropsy 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 103 in the Home Furnishings Industry Kennita Kind 103 Introduction Purpose Part I Part II Implications for Future Research 125 Chapter 7. Trade and Environment Issues in APEC Antonina Ivanova Manuel Angeles 125 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 126 of Environmental Policy Toward Common Principles in APEC¿s Environmental 137 Agenda Conclusion 140 146 Chapter 8. Financial Resource Flows, the Exchange Rate, 153 and Trade: Recent East Asian Experience Glenville Rawlins Chandana Chakraborty 153 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 179 PART III: INTERNATIONAL FINANCE Chapter 9. Emerging Trends in Asian Financial Markets: 181 Evidences from Malaysia Rajesh Mohnot Wan Fadzilah Wan Yusoff 181 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 205 Economic Performance Liberalization Process Globalization Impact Chapter 11. The Exchange Rate of Chinese Yuan: 231 Before and After WTO Entry Robin H. Luo Yunhua Liu 231 Introduction Approaches to Measuring Equilibrium Real Exchange Rate (ERER) Misalignment of ChineseYuan and China¿s Trade Balance Forecast and Conclusion Chapter 12. Trade Elasticities of the Export-Oriented Household Electrical Appliances Industry of Hong Kong 261 To-Ming Ho Introduction The Model Estimation and Results Trade Elasticities and Interpretation Summary and Conclusion Chapter 13. A Multifactor Stock Valuation Model: An Empirical Application to the Thai Telecommunications 273 Sector Sethapong Watanapalachaikul Sardar M. N. Islam Nicholas Billington Introduction StockValuation Characteristics of the Financial Market in Developing 273 274 275 Countries Financial Characteristics in the Thai Telecommunications Sector ANewModel forValuation of Stocks Data Results Implications of the Results for StockValuation The Need for Other Approaches forValuation Conclusion 277 PART IV: INDUSTRY-SPECIFIC STUDIES 289 AND FUTURE RESEARCH Chapter 14. Implications for the Vietnamese Textile and Apparel Industry in Light of Abolishing the Multifiber Arrangement and the U.S.-Vietnam Bilateral Investment Treaty 291 Joseph Pelzman 291 292 303 309 Introduction TheVietnamese Textile and Apparel Industry TheVietnam-U.S. Textile Agreement Debate Concluding Remarks Chapter 15. Competition for Market Share: A Markov 313 Analysis of U.S. Apparel Imports Kathleen Rees 313 316 318 324 Introduction Methodology Findings Conclusions Chapter 16. Globalization and Future Research Interests 341 On East Asia M. Raquib Zaman 341 Introduction Continuation of the Past and Current Trend Future Direction of Research Index 345
Library of Congress Subject Headings for this publication:
East Asia -- Economic conditions -- Congresses.
East Asia -- Economic policy -- Congresses.
Globalization -- Economic aspects -- East Asia -- Congresses.
East Asia -- Foreign economic relations.