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Rapid population ageing and economic transformation in Asia underline the policy challenges associated with ensuring income security in old age. This article examines the potential role of social pensions in securing old-age income security in Asia. It assesses the main policy trade-offs associated with adopting alternative social pension designs, especially around two critical policy points: the comparative advantages of social assistance and social pensions; and the integration of non-contributory transfers within advanced contributory pension schemes. [ABSTRACT FROM AUTHOR]

The current crisis in Asia has seen the case for more open economic policy come under attack in the developing world. In this article Michael Chui, Paul Levine, Mansoob Murshed, and Joseph Pearlman argue that any reversal of the trend towards globalisation would be a great mistake for policymakers. The association of openness with higher growth is one of the most robust empirical results in economics. Here we explore the mechanisms that explain this result. We argue that current high growth rates in Asia are unsustainable and there is a long-term as well as a short-term problem of 'over-investment' in Asia. However, we report research findings that show how international knowledge spillovers and free trade can enable the world economy to grow, the developing countries to progress, and the developed countries to benefit. [ABSTRACT FROM AUTHOR]