Over the years, the Brookings Panel has focused overwhelmingly on the U.S. economy. That emphasis reflected the principal interests of its founders, Arthur Okun and George Perry. The United States is by far the largest economy in the world, accounting for a quarter to a third of global output, so understanding the U.S. economy is important. And this economy is rich in data. But that still leaves over two-thirds of the world economy. The Brookings Papers has made excursions into this area from time to time. At various points Europe, Japan, and most recently China have been addressed. There was a flurry of interest in the transition economies some years ago, in the international financial crises of the mid- to late 1990s, and more rarely in developing countries more broadly.
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