## Asia Rising: A Sectoral Perspective

_IMF Working Papers, June 1, 2007_

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**Canonical URL:** [Asia Rising: A Sectoral Perspective](https://www.imf.org/en/publications/wp/issues/2016/12/31/asia-rising-a-sectoral-perspective-20980)

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## Bibliographic details
- Authors: Florence Jaumotte, Nikola Spatafora
- Published: June 1, 2007
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451866940.001

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### 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.

### Key findings
- Asia’s output growth over the past 40 years resulted from the combination of:
  - high investment; and
  - rapid productivity increases.
- A relatively strong institutional and policy environment facilitated resource shifts from low- to high-productivity sectors.
- Sectoral productivity performance varies, with services identified as increasingly important but currently lagging.

### Policy recommendations / Challenges
- Implement reforms to boost productivity in service sectors.
- Provide policy support to continue the shift of resources from agriculture to industry and services.
- Strengthen policy frameworks in late-developing countries to sustain rapid growth.

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/31/asia-rising-a-sectoral-perspective-20980_