Dualism is closely linked with inequality. Any process of development entails forces of dispersion (centrifugal) and forces of concentration or agglomeration (centripetal). The tendency for activities to concentrate is driven by the external economies that exceeds the negative externalities (higher prices, congestion, etc.) caused by the concentration. On the other hand, external economies …
This book discusses the risks and opportunities that arise in Emerging Asia given the context of a new environment in global liquidity and capital flows. It elaborates on the need to ensure financial and overall economic stability in the region through improved financial regulation and other policy measures to minimize the emergent risks. "Managing Elevated Risk: Global Liquidity, Capital Flows…