I. Introduction. The new industrial revolution in Asian economies (M. Abidin, R. Hooley). II. Macroeconomic Policy and productivity Performance. Reflections on economic growth in Asia and the Pacific (A. Harberger). The new industrial revolution in Asian economies: its limits (M. Dutta). Miracle or myth in Asian NIC growth: the irony of numbers (F. Hsaio, M. Hsaio). The role of Korea in Asia Pacific economic cooperation with special reference to strategic alliances (Y.T. Lim). Inflation and exchange rate management in Indonesia (R. Sirigar). Explaining Malaysia's economic growth (W.B. Gan, L.Y. Soon). III. Liberalization of Trade in Services. Implications of GATS on the service sector: Malaysian perspectives (S. Ling, M. Abidin and L. Heng). Thailand's liberalization of trade and investment in services within APEC (C. Suthiphand). Services and development in an open economy (N. Mehta). Effects of interest rate liberalization: the case of S. Korea (S. Kwack, C. Lee). IV. Foreign Investment. The role of foreign investment in the success of Asian industrialization (P. Lloyd). Foreign direct investment and economic growth (K. Marwah, L. Klein). AFTA, AIA and U.S. direct investment in ASEAN (R. McCullough, M. Plummer). Sources of technology inflow to malaysia: U.S. firms vs, Japanese firms (S. Narayanan, L.Y. Wah). Trade, investment and conflict between the U.S. and Asia (M. Noland). V. Sectoral and Institutional Change. Agriculture in the new Asian industrialization (R. Bautista, D. DeRosa). Investment in human capital in South Asian economies (S. Khan). Business groups in Japan, Korea and Taiwan: a comparison (J. Liu, J. Choi and H. Wang). The Japanese employment practice revisited (M. Ahmed). The myth of the effect of industrial policies in industrializing countries: the case of Taiwan (T.S. Yu). China's choice for the industrialization road: China's township and village enterprises (H. Fanzhang). On the relationship between Vietnam's economic renovation and its possible participation in regional and world economic organizations (D.L. Diep). Burmese seaman in search of freedom from poverty: a study of the effects of foreign exchange controls and economic mismanagement (M. Maung).