The purpose of this paper is to show, through two case studies, that the transmision of growth impulses from the export sector to the rest of the economy might be weakened by a number of factors stemming from the initial resource endowment of the economy and the relative elasticities of supply of these resources. The consequences might be described as arrested or abortive growth. The case studies pertain to two countries in Southeast Asia, Thailand and former (French) Indo-China, covering the period of their entrance into world commerce in the second half of the nineteenth century to the Second World War.

The purpose of this paper is to show, through two case studies, that the transmision of growth impulses from the export sector to the rest of the economy might be weakened by a number of factors stemming from the initial resource endowment of the economy and the relative elasticities of supply of these resources. The consequences might be described as arrested or abortive growth. The case studies pertain to two countries in Southeast Asia, Thailand and former (French) Indo-China, covering the period of their entrance into world commerce in the second half of the nineteenth century to the Second World War.

In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.

In this paper, alternative capital asset pricing models (CAPM) are first reviewed and criticized. Then a new simultaneous equation CAPM is derived to take the essences of the existing capital asset pricing models into account. Some data are also used to show the usefulness of the new CAPM derived in this study.

In Interpreting ChinaOCOs Development, leading experts on China provide an overview of this growing superpower, highlighting key issues in the country''s political, economic and social development. Underpinned by up-to-date scholarly research yet written in a readable and concise style, this volume of over 40 short chapters offers a very accessible way to understanding the major events and dominant issues that had emerged in China over the last few decades. The essays are grouped under four thematic sections OCo challenges of governance, growth and structural changes, coping with rising social problems and relations with major powers and neighbours OCo covering salient topics such as the emerging mode of leadership succession, sustainability of ChinaOCOs high growth, widening inequalities, environmental crisis and the external impact of ChinaOCOs rise. Non-specialists in particular, should find this volume useful in keeping up with ChinaOCOs fast changing developments."