Long-Term Projections of Asian GDP and Trade

Abstract

Long-Term growth in the region depends largely on supply-side factors, augmented by each economy's productive capacity. Such growth reflects the combined effects of production factors, such as capital and labor, as well as productivity improvements - not on the short-term business cycle. This distinction matters, as policies for sustaining growth are different from policies for minimizing cyclical fluctuations. This report details the key findings of the Asian Development Bank's project on Long-Term Projections of Asian Gross Domestic Product (GDP) and Trade.