Dr Hyun-Hoon LEE is professor of international economics at Kangwon National University (KNU), South Korea. He was Senior Analyst at the Asia-Pacific Economic Cooperation (APEC) Secretariat and was Senior Environmental Affairs Officer at the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP). He has also been Visiting Professor/Scholar/Fellow at the University of British Columbia, the University of Melbourne, Keio University, and the Bank of Korea. He has a PhD in Economics from the University of Oregon, USA. His research area includes international trade and finance, environmental economics, development economics, the Korean economy, and regional economic cooperation in East Asia and the Pacific. He has published a large number of articles in many leading international journals, as well as a number of books. Dr Donghyun PARK is currently Principal Economist at the Economics Research and Regional Cooperation Department (ERCD) of the Asian Development Bank (ADB), which he joined in April 2007. Prior to joining ADB, he was a tenured Associate Professor of Economics at Nanyang Technological University in Singapore. Dr Park has a PhD in economics from the University of California, Los Angeles (UCLA), and his main research fields are international finance, international trade, and development economics. His research, which has been published extensively in journals and books, revolves around policy-oriented topics relevant for Asia's long-term development, including innovation, entrepreneurship, and financial sector development. Dr Park plays a leading role in the production of Asian Development Outlook, ADB's biannual flagship publication on macroeconomic issues, and leads the team that produces Asia Bond Monitor, ADB's quarterly flagship report on emerging Asian bond markets.