Changing Patterns of Trade and Global Value Chains in Postcrisis Asia
Sophisticated and geographically dispersed global value chains have emerged as an important feature of Asia’s economic success, particularly in East Asia.
Understanding Recent Trends in Income Inequality in the People’s Republic of China
Evidence suggests that reversal of key drivers of rising income inequality in the People's Republic of China, with the exception of wealth inequality, could partly explain the decline in income inequality since 2008.
Managing the Middle-Income Transition
Greater reliance on efficiency and productivity improvement, innovation, and market competition are needed for the People’s Republic of China to make the transition to high income and avoid the middle income trap.
The People’s Republic of China’s Potential Growth Rate: The Long-Run Constraints
A number of factors seem to signal that the recent decrease in People's Republic of China's growth rate may be structural, rather than temporary, in the sense that it reflects a permanent shift to a slower potential growth rate path.
Do Governance Indicators Explain Development Performance? A Cross-Country Analysis
Developing Asian countries with a surplus in government effectiveness, political stability, regulatory quality, and corruption control are observed to grow faster than those with a deficit in these indicators.
Closing Development Gaps: Challenges and Policy
There are significant income and nonincome development gaps around the world. Closing these gaps will require not only increasing and sustaining economic growth in low-income regions, but also policies that close nonincome development gaps directly. Governments need to support private investment and entrepreneurship by investing in human capital and infrastructure; developing the financial sector; improving governance; and eliminating other impediments created by market, institutional, or policy failures.
Governance and Institutional Quality and the Links with Economic Growth and Income Inequality: With Special Reference to Developing Asia
This paper reviews the growing literature on governance and institutions—focusing particularly on the measurement of governance and institutional quality, and direction of causality between institutional development and economic development. It also examines where developing Asia stands in various widely used measures of governance/institutional quality relative to the rest of the world, and the power of governance indicators in explaining cross-country variations in growth performance and income inequality in the region.
Financial Sector Development, Economic Growth, and Poverty Reduction: A Literature Review
This paper reviews the theoretical and empirical literature on the role of financial sector development, with a view to deepening understanding of the rationale of development assistance to the financial sector of developing countries.
Environmental Kuznets Curves in the People's Republic of China: Turning Points and Regional Differences
This paper examines the relationship between economic growth and environmental sustainability in the People's Republic of China by empirically estimating environmental Kuznets curve (EKC) models using provincial-level panel data from 1985 to 2005.
Inclusive Growth toward a Prosperous Asia: Policy Implications
Developing Asia is embracing inclusive growth as a key development goal in response to rising inequalities and increasing concern that these could undermine the very sustainability of Asia's growth. This paper argues that inclusive growth emphasizes creation of and equal access to opportunities; and that unequal opportunities arise from social exclusion associated with market, institutional, and policy failures.