It throws a spotlight on a variety of structural issues in developing Asia, discussing prospects over the next few decades which will depend on how the region responds and adapts to a constantly changing environment.
The chapter on growth amid change in developing Asia shows that those countries who have sustained fast growth in developing Asia have both successfully industrialized and expanded services. In most Asian countries, fostering both industry and services is the only viable development model. The following elements are crucial for this:
- investment that expands opportunities for productivity gains and provides infrastructure services that are vital for economies of scale and other benefits
- institutions that lower risks and uncertainty for businesses
- markets that support labor mobility
- institutions that provide social protection
A chapter on education and structural change, also included in this edition, examines links between education and changes in the structure of the economy.