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Economic growth, inflation, and interest rates have declined in Asia, just as they have in the United States and Europe. This volume explores the relevance to several Asian economies of the diagnosis known as “secular stagnation.” Leading experts on the region discuss the fiscal and monetary policy challenges of reviving growth without generating domestic financial imbalances. The essays on innovation, demographics, spillovers, and various policy proposals are accompanied by case studies focusing on Japan, South Korea, China, India, and Indonesia.
Focusing on the Asia-Pacific region, which in recent years has been the engine of global economic growth , this volume surveys trends and prospects in technical and vocational education and training (TVET) with particular reference to achieving inclusive growth and the greening of economies. Underlying the increasing pressure for new models of TVET provision is the rapid pace of technological change, demand for a work force which is highly responsive to evolving needs and a transforming market place that calls for higher order skills and lifelong learning. The book proposes a re-engineered, modernized TVET system that fosters an innovative approach which enhances the employability of workers as well as the sustainability of their livelihoods. The book includes contributions from leading policy makers, researchers, and practitioners, including those in the private sector in analyzing and forecasting the most urgent priorities in skills development. The book argues for creative approaches to TVET design and delivery particularly with a view to improve job prospects , and meeting the goals of inclusion, sustainable development and social cohesion. Addressing issues such as the chronic mismatches between skills acquired and actual skills required in the work place, the volume proposes diversified approaches towards workforce development and partnerships with the private sector to improve the quality and relevance of skills development . The new imperatives created by ‘greening’ economies and responses required in skills development and training are addressed. Developing TVET is a high priority for governments in the Asia Pacific region as they seek to achieve long-term sustainable growth since the .continued success of their economic destinies depend on it. The volume also includes an emerging framework for skills development for inclusive and sustainable growth in the Asia and Pacific region.
This book focuses on the tremendous shift in both economic growth and development progress taking place towards the Asia-Pacific Region. Each of the countries in the region has various concerns and challenges for its sustainable development, a common goal most of them are trying to achieve at the moment. Interestingly, sustainable development in the region may be critical for achieving sustainable development at the global level as well. With a limited mandate, the book covers some specific developmental issues of ‘the hot spots’ of APR that are regarded to be contributing to their sustainable development. The book also looks at the formation and strengthening of some economic and financial initiatives with the potentials to affect growth and influence economic cooperation and integration of the countries in the region.
'The volume is certainly interesting and well-informed and would make a valuable addition to reading lists for courses on East Asian economic development.' - Anne Booth, Asia Pacific Business Review As Southeast and Northeast Asia recover from the Asian crisis and return to a state of growth, the authors of this book assess the lessons to be learned from the crisis to achieve sustainable development in the future. While the importance of each factor contributing to the crisis varies from country to country, their collective experience has created unprecedented turmoil in current thinking on development policy.
This book examines the current main sustainable development issues in Asia from a socio-economic, macroeconomic, and financial perspective, beyond a plain environmental context. The book further analyzes both financial or health crises, which jeopardize the economic sustainability of countries, particularly in Asia where a sustained economic growth path is an occurrence of the recent past. By doing so, the volume presents case studies on countries such as China, Japan, South Korea, and ASEAN countries, like Thailand. In some instances, the book provides a comparative analysis of the experience of European Union countries. The book is divided into two parts. The first part presents contributions with socio-economic perspectives under the broad heading of sustainable development. Each contribution examines a specific Asian country. Additionally, it looks into China’s rise in adjacent regions like the Middle East, discussing China’s positioning in the world in the current post Covid19 context. The second part presents the experiences of a number of Asian countries in terms of financial and economic perspectives, including an analysis of the issue of sovereign debt. The book further examines broader topics, like the sustainability of the top financial centers, and micro-finance. The volume is a must-read for scholars, students, and practitioners, interested in a better understanding of sustainable development issues in Asia in particular, and economics in general.
This book identifies the ongoing management issues and compatible management systems for sustainable and inclusive development in a transforming Asia. In the dynamic process of economic development in Asia, many positive and also negative issues have arisen. Since the latter half of the 1990s, the network economy based on digital technologies began to be established and technological and cross-border transfer of managerial knowledge became easier. This change in technological and market structure now requires companies to meet another dimension of competition. In this new paradigm, many Asian companies are struggling with turbulent new managerial and organizational issues together with economic and social problems that concentrate at the bottom of the pyramid. This book elucidates these issues, keeping sustainability and inclusiveness in mind. The book is highly recommended not only for academicians but also business people who seek an in-depth and up-to-date overview of dynamically changing business and industrial structures in Asia focusing on sustainability and inclusion issues.
This book provides practical policy recommendations that are useful for developing Asia and for accelerating poverty reduction plans in the rest of the world. Poverty reduction in all its forms remains one of the greatest challenges facing humanity. In developing Asia, rapid growth in countries and sub-regions such as China, India, and Southeast Asia has lifted millions out of poverty, but progress has been uneven. On the other hand, the current coronavirus (COVID-19) pandemic and the global economic recession that it has caused are pushing millions of people back into poverty. Poverty reduction, inclusive growth, and sustainable development are inseparable, and poverty reduction is the premise for sustainable development. The Sustainable Development Goals (SDGs) are a bold commitment to finish what we started and end poverty in all forms and dimensions by 2030. However, because of the current global recession, the world is not on track to end poverty by 2030. Given the aforementioned situation, if we plan to achieve the no-poverty target in line with the SDGs, governments need to reconsider their policies and economies need to allocate their resources for this aim. Owing to the importance of the topic, this book provides several thematic and empirical studies on the roles of small and medium-sized enterprises, local businesses and trusts, international remittances and microfinance, energy security and energy efficiency in poverty reduction, and inclusive growth.
For many developing countries economic growth is an elusive quest. Both economists and policy-makers have long known that issues such as education, investment and infrastructure are necessary ingredients for development and yet only a very small number of countries seem to be able to come up with the right mix of these ingredients. Bryan Ritchie demonstrates how political relationships among government, business, academic and labor leaders create different incentives for economic actors to make key decisions to promote economic upgrading and sustainable development. He reveals how these decisions affect matters such as bureaucratic structures, the language of education, a focus on technology and innovation, and the inclusion of labor in business strategy. These shape the institutional structures that in turn create the foundation of government policy. The policies, and the political relationships that form around them, can be beneficial or detrimental to the economic development of the country. This insightful study shows how the level of systemic vulnerability, which is a combination of resource endowments, domestic conflict and external military security, determines which forms they take. Systemic Vulnerability and Sustainable Economic Growth will be warmly welcomed by academics and researchers of political science, economics – development economics particularly – and Asian studies. Policy-makers will find invaluable insights such as how government bodies can successfully incorporate actors from the private sector. The book will also appeal to business leaders wishing to know why policy-makers act the way they do.
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.
This joint publication from the Asian Development Bank and the Asian Development Bank Institute features selected papers from the September 2009 conference on the social and environmental impact of the global economic crisis on Asia and the Pacific, especially on the poor and vulnerable. The publication is designed with the needs of policy makers in mind, utilizing field, country, and thematic background studies to cover a large number of countries and cases. This publication suggests that the crisis is an opportunity to rethink the model of development in Asia for growth to become more inclusive and sustainable. Issues that need to be more carefully considered include: closing the gap of dualistic labor markets, building up social protection systems, rationalizing social expenditures, addressing urban poverty through slum upgrading, promoting rural development through food security programs in pro-poor growth potential areas, and concentrating climate change interventions on generating direct benefits for the environments of the poor.