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Growth Horizons for a Changing Asian Regional Economy

dc.contributor.authorDavid Roland-Holst
dc.contributor.authorGuntur Sugiyarto
dc.date.accessioned2015-01-30T14:45:26Z
dc.date.available2015-01-30T14:45:26Z
dc.date.issued2014-03-21
dc.identifier.issn1655-5252
dc.identifier.urihttp://hdl.handle.net/11540/1977
dc.description.abstract"After two generations of economic growth, the next phase of structural transformation for Asia will have several salient features. Our results suggest that no single policy orientation, pathway, or even destination will apply to all economies. The main driver for each economy’s structural change will be demand, both domestic and external. These demand sources can have very different sector emphasis, however, and drive domestic resource allocation in different directions. Asian economies with high export shares will be drawn to more intensive primary and industrial resource allocation, while those with larger domestic demand shares will become more service-oriented. Our long-term forecasts for the Asian economies suggest that factor productivity growth continues to be essential to improving livelihoods generally and promoting regional convergence in particular. Of particular importance is potential for reducing regional inequality through more inclusive growth—productivity improvements are more costeffective in lower-income countries and they have a bigger relative income dividend. Our research also reveals that services are essential contributors to average living standards in high-, medium-, and even low-income Asian economies. For this reason, policies that improve the efficiency of service sector labor allocation, as well as skill and productivity improvements via determined education and training programs, will be essential to sustaining higher living standards and transition to long-term growth sustained by demand from an ever-expanding middle class. "
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleGrowth Horizons for a Changing Asian Regional Economy
dc.typeWorking Papers
dc.subject.expertEconomics
dc.subject.expertPublic Sector
dc.subject.expertFree Trade
dc.subject.expertHealth
dc.subject.expertTrade
dc.subject.expertDevelopment
dc.subject.adbEconomic integration
dc.subject.adbRegional integration
dc.subject.adbIndustry
dc.subject.naturalCooperation
dc.subject.naturalFree Trade
dc.subject.naturalPoverty
dc.subject.naturalEconomics
dc.title.seriesADB Economics Working Paper Series
dc.title.volumeNO. 392
dc.contributor.imprintAsian Development Bank
oar.themeEconomics
oar.themeTrade
oar.themeLabor Migration
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic Republic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji
oar.countryKiribati
oar.countryMarshall Islands
oar.countryMicronesia, Federated States of
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryChina, People's Republic of
oar.countryHong Kong, China
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-001407
oar.authorRoland-Holst, David
oar.authorSugiyarto, Guntur
oar.importtrue
oar.googlescholar.linkpresenttrue


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