The economic landscape of Asia has changed profoundly in the past two decades. Regional economies are now increasingly linked, and the region as a whole has achieved remarkable economic prosperity. However, past success is no guarantee of future success. A number of challenges arising from resource scarcities, environmental degradation, adverse demographic trends, rising inequalities in income distribution, and difficulties in coping with globalization may derail the current upward trend in Asian economic development and lead to gloomy growth prospects.
This book raises critical issues for developing Asia's long-term development. It provides valuable solutions and identifies key conditions to sustained high growth and to income convergence among the main subregions in the next two decades and beyond. They include increased trade and regional integration through more open trade and investment policies; accelerated investment in hard and soft infrastructure; overcoming resource constraints; improved human resource development; and inclusive growth policies that enhance opportunities and incentives for all citizens. The fulfilment of these conditions will not be met automatically, but will require bold action by regional governments and societies to meet the challenges of realizing the potential for sustained and equitable Asian growth.
From Growth to Convergence: An Introduction; F.Zhai, W.James & F.Harrigan
Why are Bilateral Trade Agreements So Popular, and Does it Matter?; J.Menon
Commentary; S.Y.Chia
Regionalizing Bilateral Free Trade Agreements in Asia; F.Harrigan, W.James, M.Plummer & F.Zhai
Commentary; P.Low
Infrastructure as a Catalyst for Regional Integration, Growth, and Economic Convergence: Scenario Analysis for Asia; D.Roland-Holst
Commentary; D.Canning
Unlocking the Trade Potential in Least-Developed Countries: A CGE Investigation for Bangladesh; F.Zhai
Commentary; R.Pomfret
Economic Growth, Technological Change and the Patterns of Food and Agricultural Trade in Asia; T.W.Hertel, C.E.Ludena & A.A.Golub
Commentary; A.Rae
Energy Scenarios for East Asia, 2005-2025; S.Paltsev & J.Reilly
Commentary; D.Roland-Holst
Projected Economic Growth in the People's Repubic of China and India: The Role of Demographic Change; R.Tyers, J.Golley & I.Bain
Commentary; D.Canning
Global Growth and Distribution: Asia and its Progression to Developed Status; M.Bussolo, R.E.De Hoyos, D.Medvedev & D.van der Mensbrugghe
Commentary; R.Tyers
FAN ZHAI is an Economist with the Macroeconomics and Finance Research Division of the Economics and Research Department of the Asian Development Bank. He works on general equilibrium modelling and its applications to long-term economic planning and trade policy analysis. He was Research Fellow at the Development Research Center of the State Council of the PRC in 1997-2000 and Deputy Director of the Ministry of Finance of the PRC in 2000-2003.
Description
The economic landscape of Asia has changed profoundly in the past two decades. Regional economies are now increasingly linked, and the region as a whole has achieved remarkable economic prosperity. However, past success is no guarantee of future success. A number of challenges arising from resource scarcities, environmental degradation, adverse demographic trends, rising inequalities in income distribution, and difficulties in coping with globalization may derail the current upward trend in Asian economic development and lead to gloomy growth prospects.
This book raises critical issues for developing Asia's long-term development. It provides valuable solutions and identifies key conditions to sustained high growth and to income convergence among the main subregions in the next two decades and beyond. They include increased trade and regional integration through more open trade and investment policies; accelerated investment in hard and soft infrastructure; overcoming resource constraints; improved human resource development; and inclusive growth policies that enhance opportunities and incentives for all citizens. The fulfilment of these conditions will not be met automatically, but will require bold action by regional governments and societies to meet the challenges of realizing the potential for sustained and equitable Asian growth.
Contents
From Growth to Convergence: An Introduction; F.Zhai, W.James & F.Harrigan
Why are Bilateral Trade Agreements So Popular, and Does it Matter?; J.Menon
Commentary; S.Y.Chia
Regionalizing Bilateral Free Trade Agreements in Asia; F.Harrigan, W.James, M.Plummer & F.Zhai
Commentary; P.Low
Infrastructure as a Catalyst for Regional Integration, Growth, and Economic Convergence: Scenario Analysis for Asia; D.Roland-Holst
Commentary; D.Canning
Unlocking the Trade Potential in Least-Developed Countries: A CGE Investigation for Bangladesh; F.Zhai
Commentary; R.Pomfret
Economic Growth, Technological Change and the Patterns of Food and Agricultural Trade in Asia; T.W.Hertel, C.E.Ludena & A.A.Golub
Commentary; A.Rae
Energy Scenarios for East Asia, 2005-2025; S.Paltsev & J.Reilly
Commentary; D.Roland-Holst
Projected Economic Growth in the People's Repubic of China and India: The Role of Demographic Change; R.Tyers, J.Golley & I.Bain
Commentary; D.Canning
Global Growth and Distribution: Asia and its Progression to Developed Status; M.Bussolo, R.E.De Hoyos, D.Medvedev & D.van der Mensbrugghe
Commentary; R.Tyers
Authors
FAN ZHAI is an Economist with the Macroeconomics and Finance Research Division of the Economics and Research Department of the Asian Development Bank. He works on general equilibrium modelling and its applications to long-term economic planning and trade policy analysis. He was Research Fellow at the Development Research Center of the State Council of the PRC in 1997-2000 and Deputy Director of the Ministry of Finance of the PRC in 2000-2003.
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