CONTENTS -- Preface -- Contributors -- Abbreviations and Acronyms -- 1 What Globalization Means for East Asia -- 2 Hanging Together? On Monetary and Financial Cooperation -- 3 Trade and Foreign Direct Investment: A Role for Regionalism -- 4 New Regional Trading Developments in the Asia-Pacific Region -- 5 Harmonizing Competition Policies -- 6 The Public Sector -- 7 Corporate Governance, Industrial Policy, and the Rule of Law -- 8 Governance and the Internet -- 9 Education for Growth: Deepening or Widening? -- 10 Venture Capital Industries -- Index -- About the Editors -- Figures -- 3.1 Trade Intensity Index: Intraregional, 1980-2001 -- 3.2 Foreign Direct Investment in ASEAN by Source, 1995-2001 -- 3.3 Shares of East Asian Foreign Direct Investment Flows to ASEAN, Asian Newly Industrialized Economies, and China -- 6.1 Public Revenue of General Government, 1950-93 -- 6.2 Total Expenditure of Central Government, 1970-98 -- 6.3 Debt of Central Government, 1970-98 -- 6.4 Budget Balance of Central Government, 1970-98 -- 6.5 Evolution of Public Revenue as an Interaction of Economic Development and Political Regime -- 6.6 Evolution of Subsidies and Transfers as an Interaction of Economic Development and Political Regime -- 8.1 Links to Telephones, 2002 -- 8.2 Internet Usage -- 8.3 Openness to Information -- 9.1 Beginning Monthly Gross Wages in Singapore, 2001 -- Tables -- 2.1 Monthly Nominal Exchange Rate Volatility -- 2.2 Monthly Reserve Volatility -- 2.3 Monthly Interest Rate Volatility -- 2.4 Volatility Ratios -- 3.1 Openness and Global Integration Indicators -- 3.2 Import and Export Shares, 2001 -- 3.3 Trade Shares, Selected Economies and Selected Years -- 3.4 Intraregional Trade: Merchandise Exports within Regional Group -- 3.5 Trade Intensity Index, 2001 -- 3.6 Top Five Trading Partners for East Asian Economies Based on the Trade Intensity Index.

3.7 Distribution of FDI in Selected Developing Countries -- 3.8 Intraregional Foreign Direct Investment Flows in Developing Asia, 1999-2001 -- 3.9 Main Instruments Involving East Asian Countries and Dealing with Foreign Direct Investment, 1948-2003 -- 3.10 Home Countries and Regions of the Top 50 Nonfinancial Multinational Corporations from Developing Economies -- 3.11 Structure of World Trade in Major Product Categories by Region, 1985 and 2000 -- 3.12 Intraregional Imports of the Automobile Industry -- 4.1 Distribution of Imports and Exports of Northeast Asian Economies -- 4.2 Welfare Effects (Equivalent Variation Basis) of Bilateral Preferential Trading Agreements -- 4.3 Welfare Effects (Equivalent Variation Basis) of Steps to an East Asian Trade Bloc and APEC Liberalization -- 4.4 Welfare Effects (Equivalent Variation Basis) of the Free Trade Area of the Americas -- 4.5 Welfare Effects with Agriculture Excluded -- 4.6 East Asian Economies' Value Added by Sector at Market Prices -- 4.7 Production Effects by Sector or East Asian Economies: ASEAN +3 Free Trade Agreement -- 4.8 Production Effects by Sector or East Asian Economies: APEC Most-Favored Nation -- 4.9 Production Effects by Sector or East Asian Economies: APEC Preferential -- 4.10 Production Effects by Sector or East Asian Economies: ASEAN +3 Free Trade Agreement -- 4.11 Production Effects by Sector or East Asian Economies: APEC Most-Favored Nation -- 4.12 Production Effects by Sector or East Asian Economies: APEC Preferential -- 4.13 Estimated Gravity Coefficients for Proposed Regional Trading Agreements: Pooled Data by Sector -- 4.14 Estimated Welfare Effect of Proposed Regional Trading Agreements: Equivalent Variation -- 4A.1 Estimated Gravity Equations:Total Merchandise Trade, 1986-98 (at 3-year Intervals).

4A.2 Estimated Gravity Equations:Manufactures Trade, 1986-98 (at 3-year Intervals) -- 4A.3 Estimated Gravity Equations: Agricultural Trade, 1986-98 (at 3-year Intervals) -- 4A.4 Estimated Gravity Equations: Pooled Data by Sector -- 5.1 Competition Laws: A Functional Overview -- 5.2 Main Conduct Regulated -- 6.1 Distribution of Public Spending in East Asian Countries, 1993-96 -- 6.2 Size of State-Owned Enterprises in East Asian Countries, 1970-96 -- 6.3 Public Revenue of General Government as a Percentage of GDP, 1950-93 -- 6.4 Public Consumption of General Government as a Percentage of GDP, 1960-99 -- 6.5 Total Expenditure of Central Government as a Percentage of GDP, 1970-99 -- 6.6 Nonmilitary Expenditure of Central Government as a Percentage of GDP, 1985-97 -- 6.7 Subsidies and Transfers of Central Government as a Percentage of GDP, 1970-99 -- 6.8 Wages and Salaries of Central Government as a Percentage of GDP, 1970-99 -- 6.9 Effect of Unionization and Income Inequality on the Size of Subsidies and Transfers -- 6.10 Budget Balance of Central Government as a Percentage of GDP, 1970-99 -- 6.11 Size of State-Owned Enterprises as a Percentage of GDP, 1970-85 -- 6.12 Forecasting the East Asian Public Sector -- 7.1 Control of Publicly Traded Companies in East Asia, 1996 -- 7.2 Industrial Concentration Ratios -- 7.3 Business Groups Concentration Ratios: Share of 100 Largest Firms in Total Manufacturing -- 7.4 Alternative Measures of the Rule of Law -- 8.1 Opportunities for Internet Access, 2001 -- 8.2 Contextual Influences on Internet Use -- 8.3 Classifying East Asian Systems of Government -- 8.4 Web Presence of East Asian Governments -- 9.1 University Graduates by Field -- 9.2 East Asian Comparative Indicators, 2000 -- 9.3 Changes in Work Practices Required to Assimilate Computer-Based Production Strategies -- 10.1 National Venture Capital Pools in Asia.

10.2 Sources of Venture Capital Commitments in Asia and the United States, 2000 -- 10.3 Import and Export of Venture Capital for Various Asian Nations, 2000 -- 10.4 New NASDAQ-Like Stock Markets in Asia.