Preface by Jean Bonvin, Dong-Se Cha and Rolf Luders -- Introduction by Ulrich Hiemenz -- Prespectives for an Integrating World Economy: Implications for Reform and Development by Helen Hughes -- Technological Change, Globalisation of Production and the Role of Multinationals by Charles Oman -- Financing Economic Reform: Mobilising Domestic Resources and Attracting the Right Kind of External Resources by Maxwell J. Fry -- Employment Generation and Poverty Alleviation in Developing Countries by Gary S. Fields -- Stabilisation with Growth: Implications for Emerging Economies by Kiichiro Fukasaku and Lisbeth Hellvin -- Institutions and Economic Development by Chung H. Lee -- Challenges to the Newly Emerging Economies: A Reinterpretation of the Growth Experience of Asian NICs by Jungho Yoo -- Anatomy of Reform in Two Large Developing Countries: China and India by Sumner J. La Croix, Shelley M. Mark and Wing Thye Woo -- List of Participants

The integration of the newly emerging economies (NEEs) into the global economy not only raises major challenges for OECD Member countries, which must adapt to new sources of competition, it also forces emerging economies to equip themselves with the policies and structures necessary to operate successfully in the global marketplace. That these challenges have still not been adequately taken up has been amply demonstrated by the financial crisis which struck Asian NEEs in mid 1997. Hence the need for more dialogue, on both the domestic and international levels, to reform policies and to avoid policy failures and crises in emerging economies, with ensuing impact on the industrialised countries. This book moves in that direction by dealing with issues as varied and complementary as: the perspectives for an integrating world economy; the financing of economic reform; employment generation and poverty alleviation; or the role of institutions in economic development. These themes are tackled in the light of the experience of Asian newly industrialised countries, namely Korea, China and India. This publication offers a stimulating, well-informed tour of the issues which policy makers will have to resolve if the integration of the NEEs into the world economy is to be facilitated. [This book brings together the presentations made during a conference organised jointly in Seoul by the OECD Development Centre, the Korean Development Institute and the International Center for Economic Growth.]