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Asia Rising: A Sectoral Perspective

Author/Editor: Jaumotte, Florence | Spatafora, Nicola
Authorized for Distribution: June 1, 2007
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper undertakes a cross-country analysis of productivity growth at both the aggregate and sectoral level. It finds that Asia's remarkable output growth over the past 40 years reflected both high investment, and rapid productivity increases. These factors were in turn supported by the region's relatively strong institutional and policy environment, which encouraged resource shifts from low- to high-productivity sectors. Looking ahead, sustaining rapid growth requires meeting a number of key challenges: (i) implementing reforms to boost productivity in the increasingly important, but currently lagging, service sectors; (ii) providing policy support for continuing the shift of resources from agriculture to industry and services; (iii) strengthening policy frameworks in late-developing countries.
 
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Series: Working Paper No. 07/130
Subject(s): Economic growth | Asia | Productivity
Author's keyword(s): Asia | growth | productivity
 
English  
    Published:   June 1, 2007        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA2007130   Pages:   46
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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