Innovative East Asia : The Future of Growth
This is the main volume in a series of publications based on a study cosponsored by the government of Japan and the World Bank to examine the future sources of economic growth in East Asia. The study was initiated in 2000 with the objective of iden...
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| Language: | English en_US |
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Washington, DC: World Bank
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2003/03/2373378/innovative-east-asia-future-growth http://hdl.handle.net/10986/15158 |
| Summary: | This is the main volume in a series of
publications based on a study cosponsored by the government
of Japan and the World Bank to examine the future sources of
economic growth in East Asia. The study was initiated in
2000 with the objective of identifying the most promising
path to development in light of emerging global and regional
changes, signaled by the crisis of 1997-98 and the
challenges faced by the crisis-hit countries as they sought
to resume rapid growth. This volume explores each issue and
consequent policy choices in greater detail. The principal
message is that sustained economic growth in East Asia will
rest on retaining the strengths of the past -stability,
openness, investment, human capital development- on
overcoming the sources of current weakness in financial,
corporate, judicial, and social sectors, and on implementing
the changes required by the evolving economic environment.
East Asia needs to sustain its hard-earned stability by
recalibrating its fiscal and exchange rate policies.
Strengthening social safety nets and governance, and
invigorating financial, regulatory, and legal institutions.
Yet these are only preconditions; future economic
performance will depend on keying growth to productivity. |
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