This collection of ten essays by some of the world's most distinguished economists addresses the most important analytical and policy issues concerning development, from the perspective of Asian developing economies.
ECONOMIC DEVELOPMENT IN ASIA explores factors that influence economic growth and development particularly from an asian development perspective. Grounded firmly on theoretical foundations, it showcases the richness and variety of the Asian development experience through extensive coverage of individual country case studies, institutional developments, and challenges facing policy-makers in the region as well as in-depth discussions of existing empirical evidence. This book is specially tailored to meet the needs of social science students studying economic development in Asia. University students, educators and government policy makers will find the book particularly useful for understanding growth and development trends in the context of a rapidly globalizing world. With the rising tide of interest in Asian economies, the book will prove to be an invaluable for anyone seeking to better understand the process of growth and economic development in the region.
Policymakers, academics, think tanks and practitioners will benefit from the international perspective of the book, particularly those interested in the influential Asian architecture. This book is also a useful reference tool for students of macroecon
Despite the diversity in income levels, languages, culture, resource endowments, and political systems, the countries of East Asia are more integrated now than they have ever been. Goods, money, and ideas are being traded across the region. East Asia is redefining itself from a collection of disparate nations that looked mainly to markets in the west, to a more self-reliant, innovative, and networked region. Countries in this region are strengthening ties with each other and seeking more strategic partnerships with the rest of the world. 'East Asian Visions' is a collection of essays that convey, firsthand, how some of the most influential thinkers in East Asia view these challenges. The writers are eminent policy makers, statesmen, and scholars. They write about how competition with the west has bred success; how crises in the region have provoked introspection; and how the rise of China is catalyzing change.
This book addresses two general questions that have arisen as a result of the uneven rise of the various Asian economies in contemporary times. First, to lift people out of poverty and to improve the quality of their lives, how do we institute policies that will ensure economic growth in the different regions of Asia? Second, what can we do to ensure that the economic growth we seek is sustainable so that the regional economic development that emerges is broad-based, inclusive, and environmentally conscious? Specifically, this edited book will provide a unified perspective on regional growth and sustainable development in Asia by focusing on the above two broad questions. The book will emphasize dynamic modeling and it will illustrate the role that sound theoretical and empirical modeling of an intertemporal nature can play in shedding light on salient public policy questions concerning regional growth and sustainable development. The specific topics to be addressed in this book include growth accounting, natural resource use and management, the regulation of environmental externalities, geographic information systems, and regional climate change. The individual chapters in this book will be written by international experts who are also active researchers in their respective fields. Therefore, this book is highly recommended to all readers who seek an in-depth and up-to-date perspective on some of the most salient issues at the interface of regional growth and sustainable development in Asia.
Resurgent Asia analyses the phenomenal transformation of Asia, which would have been difficult to imagine, let alone predict, fifty years ago, when Gunnar Myrdal published Asian Drama. In doing so, it provides an analytical narrative of this remarkable story of economic development, situated in its wider context of historical, political, and social factors, and an economic analysis of the underlying factors, with a focus on critical issues in the process of, and outcomes in, development. In 1970, Asia was the poorest continent in the world, marginal except for its large population. By 2016, it accounted for three-tenths of world income, two-fifths of world manufacturing, and one-third of world trade, while its income per capita converged towards the world average. However, this transformation was associated with unequal outcomes across countries and between people. The analysis disaggregates Asia into its four constituent sub-regions--East, Southeast, South, and West--and further into fourteen economies--China, India, South Korea, Indonesia, Turkey, Taiwan, Thailand, Philippines, Malaysia, Singapore, Pakistan, Bangladesh, Vietnam, and Sri Lanka--which account for more than four-fifths of its population and income. This book enhances our understanding of development processes and outcomes in Asia over the past fifty years, draws out the analytical conclusions that contribute to contemporary debates on development, and highlights some lessons from the Asian experience for countries elsewhere. It is the first to examine the phenomenal changes that are transforming economies in Asia and shifting the balance of economic power in the world, while reflecting on the future prospects in Asia over the next twenty-five years. A rich, engaging, and fascinating read.
Gunnar Myrdal published his magnum opus, Asian Drama: An Inquiry into the Poverty of Nations, in 1968. He was deeply pessimistic about development prospects in Asia. The fifty years since then have witnessed a remarkable social and economic transformation in Asia - even if it has been uneven across countries and unequal between people - that would have been difficult to imagine, let alone predict at the time. Asian Transformations: An Inquiry into the Development of Nations analyses the fascinating story of economic development in Asia spanning half a century. Asian Transformations sets the stage by discussing the contribution of Gunnar Myrdal to the debate on development then and now and providing a long-term historical perspective on Asia in the world. It then uses cross-country thematic studies on governments, economic openness, agricultural transformation, industrialization, macroeconomics, poverty and inequality, education and health, employment and unemployment, institutions, and nationalisms to analyse processes of change while recognizing the diversity in paths and outcomes. Specific country studies on China, India, Indonesia and Vietnam, and sub-region studies on East Asia, Southeast Asia, and South Asia, further highlight turning points in economic performance and demonstrate factors underlying success or failure. Including in-depth studies by eminent economists and social scientists, Asian Transformations comprehensively examines the phenomenal changes that are transforming economies in Asia and shifting the balance of economic power in the world and reflects on the future prospects for this continent over the next twenty-five years. It is a cohesive and multi-disciplinary study of a rapidly changing economic landscape, and makes an important contribution to understanding the complexities and processes of development from different perspectives.
The fifteen essays in this volume address from several viewpoints the question of what role population change played in East Asia's rapid economic development.
Is the East Asian growth record replicable today? This book answers: yes. It places the common East Asian theme in the theoretic context of product cycles, globalization and convergence and the historical perspective of the "German Miracle" after World War II, also the more recent Irish growth; it identifies the effective policies for sustained, rapid growth by structured comparisons among different economies; it evaluates the strengths and weaknesses of the alternative policy packages of Korea, Taiwan, Hong Kong, and Singapore, in the light of such recent events like global trend for liberalization, and the Crises of 1997 and 2001. Economic Development in a Globalized Environment also scrutinizes the major debates in development economics, using documented cases, and analytic reasoning for support.
In an era of globalization, trade in goods and cross-border services and capital flows play a key role in determining the economic growth path of countries. Over the last two decades, countries have embarked on several alternate tracks to liberalize and deepen their linkage with the world economy. The growing trade-investment nexus and the emerging developments lead to deeper international production networks, rise in cross-border trade in services and in regional trade agreements and so on. The debate of whether it is possible to empirically validate the potential benefits of this deepening trade-investment linkage is ongoing. The evidence in literature is, however, ambiguous. This book contributes to the literature by looking at Asian economies and at the EU, Maghreb countries and Pacific Island economics. It examines the issues under four broad areas, namely: (1) trade: theoretical and policy issues, (2) factor flows: impact on trade and welfare, (3) impact of trade and factor flows on environment and (4) institutions, international trade and policy issues.