Asia constitutes a large portion of the world's population and this new book provides a good selection of contributions that cover trade, equity and development in the continent. With contributions from such leading experts as Clem Tisdell, T.N. Srinivasan and Gustav Ranis, the book's chapters cover countries from Pakistan and India to Korea and Indonesia. This book should be required reading for those interested in the economic growth and development of Asian countries.
This survey of the recent literature asks: how important is trade policy for poverty reduction? We consider the effects of openness on poverty in two components: the effect of openness on average income growth, and the effect on distribution for a given growth rate. Evidence from a variety of sources (cross-country and panel growth regressions, industry and firm-level research, and case studies) supports the view that trade openness contributes greatly to growth. Moreover, trade openness does not have systematic effects on the poor beyond its effect on overall growth. Trade policy is only one of many determinants of growth and poverty reduction. Trade openness has important positive spillovers on other aspects of reform, however, so that the correlation of trade with other pro-reform policies speaks to the advantages of making openness a primary part of the reform package.
The link between trade liberalisation and poverty has arguably been one of the most debated topics in development policy debate. Existing studies on the subject have primarily used multi-country cross-sectional data, and there is a growing concern about the limitations of this approach in providing a sound empirical basis for informing the policy debate. These limitations point to the need for undertaking in-depth analyses within individual countries over time. In order to examine the connection between trade liberalisation and poverty, this book provides case studies of trade policy reforms and poverty reduction outcomes of seven countries in South Asia - Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. The South Asia region allows for an excellent comparative study given the widespread emphasis on liberalisation reforms in the region over the past two decades, as well as highlighting significant inter-country differences in terms of the timing and comprehensiveness of reforms, and the heavy concentration of world poverty in the region. This book is a useful contribution to studies on South Asia, as well as International Trade and Development Economics.
While Asia’s growth record in recent decades is remarkable, it has been marred by rising inequalities. This book looks at recent trends of income and non-income inequalities in developing Asian countries, discusses their underlying driving forces, and examines key policy issues that need to be addressed to ensure that the benefits of growth will be more equitably shared in Asia. The book also presents a set of country studies that provide rich information on growth, poverty and inequality dynamics and the policy challenges that arise in marching toward inclusive growth.
The growth performance of East Asia's market economics over the two-and-half decades has been one of unparalleled success. In this regional comparative study of country experiences, the author demonstrates the considerable scope for complementarity between economic growth and poverty alleviation in the development process. Government policies are shown to have been a major determinant of the development path for the East Asian countries, including the outcomes in income growth and distribution. The study sheds light on the types of policies conducive to both economic growth and poverty reeducation, and provides important lessons for the other developing countries.
Discusses the problems of fostering economic growth and combating poverty in developing countries. Provides insight into how the process of economic growth really works and explores how economic policy can operate to liberate the forces of growth. Calls attention to the fact that increased productivity has historically been the most reliable path to poverty reduction, and hence merits a position of high priority in national and international efforts.
The Role of Trade in Ending Poverty looks at the complex relationships between economic growth, poverty reduction and trade, and examines the challenges that poor people face in benefiting from trade opportunities. Written jointly by the World Bank Group and the WTO, the publication examines how trade could make a greater contribution to ending poverty by increasing efforts to lower trade costs, improve the enabling environment, implement trade policy in conjunction with other areas of policy, better manage risks faced by the poor, and improve data used for policy-making.
Emerging East Asian economies have seen their share of world exports more than triple during the past quarter-century, and intraregional trade has driven this growth. Broad measures of development in East Asia have improved at the same headlong pace. Why push further integration now? Two economic events of historic proportions provide the context: strategic thinking of development in the region following the East Asian financial crisis of 1997-98 and the accession of China to the World Trade Organization. Policymakers interested in a stable, prosperous region are concerned by mildly rising inequality within countries and a widening gap between richer economies and the poorest economies. Increasingly, the development agenda in the region with its focus on growth, jobs, and social stability and the trade policy agenda with its focus on market access and competitiveness have become intertwined. East Asian policymakers seek to develop a coherent set of economic policies that can deliver stability, growth, and regional integration. Without attempting to be comprehensive, 'East Asia Integrates' offers fundamental strategies that promote cross-border flows of trade, along with domestic policies on logistics, trade facilitation, standards and institutions to maximize the impact of these flows on development and distribute the gains from trade widely. As the authors demonstrate, multilateral and regional trade initiatives must provide a compelling vision of how integration can deliver broadly shared growth and prosperity if they are to succeed. In addition, they must use the momentum offered by trade agreements to address the links between trade on the one hand, and social stability, poverty reduction, and growth on the other.
Experience suggests that trade liberalization has contributed substantially to the remarkable growth of industrialized countries. However, for various reasons many developing countries have not yet been able to integrate successfully into global markets and reap the growth-inducing and poverty-reducing benefits of trade. This book argues that while developing countries are heavily represented in the WTO - accounting for about four-fifths of its membership - there is still plenty of scope for the world trading system to work more effectively in their interests.
