Introduction / lNDERJIT KAUR AND NIRVIKAR SINGH -- PART I THE NATURAL WORLD: HISTORY, CLIMATE, AND RISKS -- The History of Biological Exploitation on the Pacific Rim / ERIC JONES -- Climate Risk and Response in the Pacific Rim / DAVID ROLAND-HOLST -- Natural Disasters and Economic Policy for the Pacific Rim / lLAN NOY -- PART II PEOPLE: MIGRATION, DEMOGRAPHICS, AND HUMAN CAPITAL -- International Labor Migration in the Pacific Rim / PHILIP MARTIN -- Age Compositional Shifts and Changing Intergenerational Transfers in Selected Asian Countries / NAOHIRO OGAWA -- Human Capital Trends in the Pacific Rim / ANNE GOUJON -- PART III PERSPECTIVES ON ECONOMIC GROWTH AND DEVELOPMENT -- Economic Growth and Performance on the Pacific Rim / BARRY BOSWORTH AND SUSAN M. COLLINS -- The New Structural Economics and Strategies for Sustained Economic Development in the Pacific Island Countries / HINH T. DINH AND JUSTIN YIFU LIN -- The Evolution of Fiscal Developments and Policies in the Pacific Rim / MANMOHAN SINGH KUMAR, NIRVIKAR SINGH, AND JAEJOON WOO -- PART IV REGIONAL GOVERNANCE AND TRADE LINKAGES -- Asia in Global Economic Governance / WENDY DOBSON AND PETER A. PETRI -- Geoeconomics versus Geopolitics: Implications for Asia / DEVESH KAPUR AND MANIK SURI -- The Political Economy of Asia-Pacific Trade Agreements / JOHN RAVENHILL -- Global Production Sharing and Trade Patterns in East Asia / PREMA-CHANDRA ATHUKORALA -- Foreign Trade of the Pacific-Rim Economies / KAR-YIU WONG -- PART V INDUSTRY, POLICY, AND INNOVATION -- Are the Geese Still Flying? Catch-up Industrialization in a Changing International Economic Environment / lNDERJIT KAUR -- Multinational Enterprises, Foreign Direct Investment, and the East Asian Economic Integration / Tzu-HAN YANG AND DENG-SHING HUANG -- The Impact of Industrial Policy on Asian Growth: An Example from Taiwan / HOWARD PACK -- Creative Industries: Socio-Economic Transformation as the New Face of Innovation / F. TED TSCHANG -- The Road to Innovation in East Asia / SHAHID YUSUF -- PART VI MACROECONOMICS AND FINANCE -- Asian Financial Crises / ANNE O. KRUEGER -- The "Impossible Trinity, " the International Monetary Framework, and the Pacific Rim / JOSHUA AIZENMAN AND HIRO ITO -- Rethinking Capital Account Liberalization / MARIA SOCORRO GOCHOCO-BAUTISTA AND NOLI R. SOTOCINAL -- Asian Currencies in the Global Imbalance and Global Financial Crisis / EIJI OGAWA AND CHIKAFUMI NAKAMURA -- Rebalancing of the World Economy and Asia / MENZIE D. CHINN AND Hrno ITO -- China’s Financial Openness and Asset Return Linkages in East Asia / REUVEN GLICK AND MICHAEL HUTCHISON -- The Offshore RMB Market in Hong Kong and RMB Internationalization / YIN-WONG CHEUNG AND HUI MIAO