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for commissioning this study. Special thanks go to Perry Wong, Research Economist at the Milken Institute, for his outstanding efforts in managing this project and to the many people at the Milken Institute who provided valuable research. They are Nate Goetz, John Catapano, Frank Fogelbach, Armen Bedroussian and Jorge Velasco. We are grateful to Judith Gordon for her patience and editing which greatly improved the quality of this report. Lastly, we appreciate Sallylynn James ’ outstanding design work. Copyright © 2001 by the Milken Institute. The Milken Institute is a 501(c)(3) not-for-profit, nonpartisan, nonideological, independent economic think tank founded in 1991. Based in Santa Monica, California, the Institute is a resource for economic and public policy research and analysis, and a center for advancing discussion about economic, financial, social and policy issues. The Institute’s mission is to explore and explain the dynamics of world economic performance and growth. The overarching goal is to provide