Using cutting-edge innovations in the theory of international economics and new empirical applications, this book explores international economic links from a variety of perspectives.

From global policy simulations and models of economic policy reform to direct estimation of trade and investment links in the global economy, it offers new insights into a number of novel and perennial questions in international economics, as well as providing a comprehensive review of trends and new developments in the economics, business, and political-economy literature.

Part I: Theoretical and Empirical Studies. International externalities in the use of policies for income redistribution (A.V. Deardorff). Competition policy and the future of international trade (P. Lloyd, M. Richardson). Exports and direct foreign investment links: a three country comparison (M.E. Kreinin et al.). Quantitative analysis of APEC liberalization using CGE modelling (Hiro Lee et al.). The cost of regulation in the Japanese service industry (Hiroki Kawai, Shujiro Urata). The usual suspects? Productivity and demand shocks and Asia Pacific real exchange rates (M.D. Chinn). Part II: Policy Studies. On the dynamics of trade policy reforms (R. McCulloch). Economic policy reform: a Latin American perspective (Shoji Nishijima, R. McCleery). Globalization and linkage to 2020: challenges and opportunities (U. Hiemenz et al.). The Big Bang: deregulation of Japan's financial services sector (Shigeyuki Abe). A note on international cooperation and the Japanese economy (Yoichi Shinkai).