Research Interests: International and Domestic Macroeconomics, Economic Growth, Comparative Economic Systems.
Economic Growth, Provision of Global
Public Goods, Economic Geography, Fiscal
Decentralization, Restructuring of
State-Owned Enterprises, International
Capital Flows. With
the US-China Trade Conflict" 3 July
2018, Project Syndicate
Growth Odyssey," 17 February 2017,
Innovation Policy in China: The
Lessons, and the Necessary Changes
Ahead, (with Xiaolan Fu and Jun
Hou) Economic Change and
Restructuring, Volume 49, No. 2-3,
2016, pp. 139-157.
Rising: The Future of the RMB as an
International Currency and Shanghai as
an International Financial Market,"
Project Syndicate Column,
China meets the middle-income trap: the large potholes in the road to catching-up, Journal of Chinese Economic and Business Studies, Vol. 10, No. 4, November 2012, p.313336
The Changing Ingredients in Industrial Policy for Economic Growth, 28 November 2011 manuscript
China's Economic Growth Engine: The Likely Types of Hardware Failure, Software Failure and Power Supply Failure, 26 April 2011 manuscript
The Size and Distribution of Hidden Household Income in China, (with Xiaolu Wang), Asian Economic Papers, Winter/Spring 2011, Vol. 10 No.1, pp. 1-26.
Combating the Global Financial Crisis with Aggressive Expansionary Monetary Policy: Same Medicine, Different Outcomes in China, UK and USA, (with Wei Zhang) The World Economy, Vol. 34, Issue 5, May 2011, pp. 667-686.
Indonesias Economic Performance in Comparative Perspective, and a New Policy Framework for 2049, (with Chang Hong), Bulletin of Indonesian Economics Studies, April 2010, Vol. 46, No. 1, pp. 3364.
Getting Malaysia Out of the Middle-Income Trap (August 2009)
(Testimony before the U.S.-China Economic and Security Commission in Panel II: Chinas Short Term and Long Term Economic Goals and Prospects at Hearing on "China's Role in the Origins of and Response to the Global Recession" Tuesday, February 17, 2009, Room 562, Dirksen Senate Office Building)
Parallel Partial Progression (PPP)
Approach to Institutional
Transformation in Transition
Economies: Optimize Economic Coherence
Not Policy Sequence, (with Gang
"Updating Chinas International Economic Policy After Thirty Years of Reform and Opening: What Position on Regional and Global Economic Architecture? Journal of Chinese Economic and Business Studies, Vol. 7 No. 2, May 2009, pp. 139-166.
Understanding the Sources of Friction in U.S.-China Trade Relations: The Exchange Rate Debate Diverts Attention Away from Optimum Adjustment, Asian Economic Papers, Vol. 7 No. 3, Fall 2008, pp. 65-99.
"Facing Protectionism Generated by Trade Disputes: China's Post-WTO Blues" (with Geng Xiao), Paper prepared for the China Update 2007 Conference, Integrating Markets in China: Domestic and International, to be held at The Shine Dome, Acton, Australian National University in Canberra, Australia on 12 July 2007.
are the High-Probability Challenges to
Continued High Growth in China?" Paper
prepared for the conference Assessing the Power of
The Structural Nature of Internal and External Imbalances in China, Journal of Chinese Economic and Business Studies, February 2006.
African Poverty: Beyond the Washington
Consensus to the MDG Approach,"
(with Gordon McCord, Jeffrey D. Sachs)
in Jan Joost
Understanding African Poverty: Beyond the Washington Consensus to the Millennium Development Goals (MDG) Approach, (with Gordon McCord and Jeffrey D. Sachs), December 2005.
Serious Inadequacies of the Washington Consensus: Misunderstanding of the Poor by the Brightest, in Jan Joost Teunissen and Age Akkerman, Diversity in Development: Reconsidering the Washington Consensus, FONDAD, 2004, download from: http://www.fondad.org/publications/diversity/contents.htm
The Poverty Challenge for China in the New Millennium (with LI Shi, YUE Ximing, Harry WU Xiaoying, and XU Xinpeng), October 1, 2004.
Hearing of U.S.-China Commission on
Economic and Security Review on
Consequences of China's WTO Accession
on its Neighbours,"
Some Unorthodox Thoughts on Chinas Unorthodox Financial Sector, China Economic Review, Vol. 13, 2002.
The Relative Contributions of Location and Preferential Policies in Chinas Regional Development, (with Sylvie Demurger, Jeffrey D. Sachs, Shuming Bao, and Gene Chang), China Economic Review, Vol. 13, 2002. Chinese language version appeared in September 2002 issue of Jingji Yanjiu.
Geography, Economic Policy and Regional Development in China, (with Sylvie Demurger, Jeffrey D. Sachs, Shuming Bao, Gene Chang, and Andrew Mellinger)
Recent Claims of Chinas Economic Exceptionalism: Reflections Inspired by WTO Accession, China Economic Review, Vol. 12 No. 2-3, 2001 (reprinted in Ding Lu, G.J. Wen, and Huizhong Zhou, editors, Globalization and the Chinese Economy, Ashgate Publishing, 2002).
"Economic Reforms and Constitutional Transition," (with Jeffrey D. Sachs and Xiaokai Yang), Annals of Economics and Finance, Volume 1, Number 2, November 2000, pp. 435-491 (reprinted in Tran Van Hoa (ed.), Economic Crisis Management - Policy, Practice, Outcomes and Prospects as Chapter 4, pp. 28-85, Edward Elgar, 2002).
"Lessons from the Asian Financial Crisis, and the Prospects for Resuming High Growth," in Lok-Sang Ho and Chi-Wa Yuen (ed.), Exchange Rate Regimes and Macroeconomic Stability, Kluwer Academic Publishers, 2002.
"The Asian Financial Crisis: Hindsight, Insight, Foresight" ASEAN Economic Bulletin, August, 2000.
The Unorthodox Origins of the Asian Currency Crisis: Evidence from Logit Estimation," (with Patrick Damien Carleton, and Brian Pilapil Rosario), ASEAN Economic Bulletin, August, 2000
The Asian Financial Crisis: Lessons for a Resilient Asia, (edited with Jeffrey D. Sachs and Klaus Schwab), MIT Press, 2000. Selected Chapters:
· Chapter 1: Sachs and Woo, A Reform Agenda for a Resilient Asia
· Chapter 2: Sachs and Woo, Understanding the Asian Financial Crisis
· Chapter 8: Radelet and Woo, Indonesia: A Troubled Beginning
· Chapter 11: Perkins and Woo, Malaysia: Adjusting to Deep Integration with the World Economy
Reasons for China's Growth," The
"Some Observations on the Ownership and Regional Aspects in Financing the Growth of China's Rural Enterprises ," Revue d'Economie du Developpement, Juin 1999.
"Chinese Economic Growth: Sources and Prospects," in Michel Fouquin and Francoise Lemoine (edited), The Chinese Economy, Economica, 1998.
Transition: Comparing Asia and
Reform and Fiscal Management in
Crises, Policies and Long-Term Growth
"The Art of Reforming Centrally-Planned Economies: Comparing China, Poland and Russia," Journal of Comparative Economics, June 1994
"How Successful Has Chinese Enterprise Reform Been? Pitfalls in Opposite Biases and Focus," (with Wen Hai, Yibiao Jin and Gang Fan), Journal of Comparative Economics, June 1994.
Saving Behaviour under Imperfect Financial Markets and the Current Account Consequences, Economic Journal, May 1994.
Structural factors in the economic reforms of China, Eastern Europe, and the Former Soviet Union, (with Jeffrey D. Sachs), Economic Policy, April 1994.
"The Art of Economic Development: Markets, Politics, and Externalities," International Organisation, Vol. 44 No. 3, Summer 1990
Some Evidence of Speculative Bubbles in the Foreign Exchange Market, Journal of Money, Credit and Banking, November 1987.