Economic development is a dynamic process in East and Southeast Asia, and one that is inextricably tied to policy.

Two new groundbreaking political economy publications are now available from the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC), and a third is forthcoming in August.

Going Private in China: The Politics of Corporate Restructuring and System Reform, addresses many key reform questions faced over the past two decades by China, as well as by Japan and South Korea. Edited by Stanford China Program director Jean C. Oi, this volume demonstrates the commonalities between three seemingly disparate political economies. In addition, it sheds important new light on China's corporate restructuring and also offers new perspectives on how we think about the process of institutional change.

In Spending Without Taxation: FILP and the Politics of Public Finance in Japan, former Shorenstein Fellow Gene Park demonstrates how the Japanese government established and mobilized the Fiscal Investment Loan Program (FILP), which drew on postal savings, public pensions, and other funds to pay for its priorities and reduce demands on the budget. Referring to FILP as a "distinctive postwar political bargain," he posits that it has had lasting political and economic effects. Park's book not only provides a close examination of FILP, but it also resolves key debates in Japanese politics and demonstrates that governments can finance their activities through financial mechanisms to allocate credit and investment.

The Institutional Imperative: The Politics of Equitable Development in Southeast Asia, by former Shorenstein Fellow Erik Kuhonta, argues that the realization of equitable development hinges heavily on strong institutions and on moderate policy and ideology. He does so by exploring how Malaysia and Vietnam have had the requisite institutional capacity and power to advance equitable development, while Thailand and the Philippines, because of weaker institutions, have not achieved the same levels of success.

More detailed descriptions about these insightful volumes, as well as reviews and purchasing information, are available in the publications section of the Shorenstein APARC website.