Dooley, Folkerts-Landau, and Garber set out the political economy behind Asian governments' participation in a revived Bretton Woods System.

• Position: Conferences

Dooley, Folkerts-Landau, and Garber set out the political economy behind Asian governments' participation in a revived Bretton Woods System. The overriding problem for these governments is rapidly integrating a large pool of underemployed labor into the industrial sector. The principal constraints are inefficient domestic resource and capital markets, and resistance to import penetration by labor in industrial countries. The system has evolved to...