Search

Focuses on the lessons of the East Asian crisis for financial sector regulation particularly in the context of developing economies. Role of the financial system in the development process and the functions it performs in facilitating efficient resource use and economic growth; Causes of financial distress; Failures in prudential regulation and supervision in East Asia.

Supply chain internationalization is promoting a new cascade of agglomeration and dispersion. Headquarter tasks agglomerate in major cities in developed countries, whereas labour-intensive tasks are shed to developing countries where off-shored tasks are geographical concentrated. The entire international supply chain is productivity and welfare-enhancing, raising the efficiency of human resource use. An international supply chain can also be a route for inclusive globalization. Such benefits are offset by potential risk of volatility deriving from idiosyncratic supply shocks triggered by powerful natural disasters and other reasons and from final demand shocks. This case study of East Asia illustrates these points. [ABSTRACT FROM AUTHOR]