Innovative East Asia : The Future of Growth
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Washington, DC: World Bank
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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.
Palabras clave
ACCOUNTING, ACCOUNTING STANDARDS, ADJUSTMENT PROCESS, AGRICULTURE, ANNUAL GROWTH, ASSET MANAGEMENT, AUTONOMY, BALANCE OF PAYMENTS, BALANCE SHEETS, BANK OF THAILAND, BANK RESTRUCTURING, BANKING CRISES, BANKING SECTOR, BANKING SYSTEMS, BILATERAL TRADE, BOUNDARIES, BUDGET DEFICITS, CAPITAL ADEQUACY, CAPITAL FLOWS, CAPITAL FORMATION, CAPITAL INFLOWS, CAPITAL MARKETS, CENTRAL BANK, CENTRAL BANKS, CHARTING, COMPETITION POLICY, COMPETITIVENESS, DEBT, DEVELOPMENT INDICATORS, DEVELOPMENT POLICY, DEVELOPMENT RESEARCH, DOMESTIC CREDIT, DOMESTIC MARKETS, DOMESTIC SAVINGS, ECONOMIC ACTIVITY, ECONOMIC COOPERATION, ECONOMIC EXPANSION, ECONOMIC GROWTH, ECONOMIC HISTORY, ECONOMICS, EMERGING MARKETS, EMPIRICAL EVIDENCE, EMPLOYMENT, EXCHANGE RATE, EXPORT GROWTH, EXPORTS, EXTREME POVERTY, FINANCIAL MARKETS, FINANCIAL REFORM, FINANCIAL SECTOR, FINANCIAL SYSTEMS, FISCAL DEFICITS, FISCAL POLICY, FOREIGN EXCHANGE, FOUNDATIONS, FREE TRADE, GDP, GDP DEFLATOR, GROSS DOMESTIC PRODUCT, GROSS FIXED CAPITAL FORMATION, GROWTH RATES, HUMAN CAPITAL, IMPORT TARIFFS, IMPORTS, INCOME, INDUSTRIAL CAPACITY, INDUSTRIALIZATION, INFLATION, INSURANCE, INTANGIBLE ASSETS, LABOR FORCE, LABOR MARKET, LEGAL FRAMEWORK, LINES, LIQUIDITY, MACROECONOMIC POLICIES, MACROECONOMIC STABILITY, MERGERS, MONETARY POLICY, MORAL HAZARD, NONBANK FINANCIAL INSTITUTIONS, NONPERFORMING LOANS, OUTPUT VOLATILITY, OVERVALUATION, PATENTS, PATH, POINT, POLICY IMPLICATIONS, POLICY MEASURES, POLICY MESSAGES, POLITICAL CONSIDERATIONS, POLITICAL ECONOMY, POVERTY LINE, POVERTY REDUCTION, PRODUCERS, PRODUCTIVITY, PROPERTY RIGHTS, PRUDENTIAL REGULATIONS, PUBLIC DEBT, PUBLIC FUNDS, PUBLIC INVESTMENT, PUBLIC OFFICIALS, PUBLIC SECTOR, PUBLIC SPENDING, RAPID GROWTH, REAL EXCHANGE RATES, RISK TAKING, RURAL POOR, SAFETY NET, SAFETY NETS, SAVINGS, SCIENTISTS, SIGNIFICANT REDUCTIONS, SOCIAL PROTECTION, SOCIAL SPENDING, SOUTHEAST ASIA, STATE-OWNED ENTERPRISES, SUBSIDIARY, TAX RATES, TECHNOLOGICAL INNOVATION, TELECOMMUNICATIONS, TRADE LIBERALIZATION, TRADE NEGOTIATIONS, UNEMPLOYMENT, URBANIZATION, VALUE ADDED, WAGES, WELFARE GAINS, WORLD TRADE ORGANIZATION, WTO ECONOMIC GROWTH, MACROECONOMIC STABILITY, POLICY REFORM, BANK RESTRUCTURING, REGIONAL DEVELOPMENT, EDUCATION & ECONOMIC DEVELOPMENT, DOMESTIC REGULATORY FRAMEWORK, JUDICIAL ADMINISTRATION, LEGISLATION, EMPLOYMENT, INSTITUTIONAL REFORM