Decades of rapid growth transformed developing Asia from a low-income region to middle income. Sustaining growth to power the transition to high income will depend on much greater improvement in productivity. Innovation, human capital, and infrastructure are the three pillars of productivity growth. Supportive institutions and policies, underpinned by macroeconomic stability, can strengthen all three pillars. Asia’s dynamic track record suggests that attaining high income status, while challenging, is achievable.
Decades of rapid growth transformed developing Asia from a low-income region to middle income. Sustaining growth to power the transition to high income will depend on much greater improvement in productivity. Innovation, human capital, and infrastructure are the three pillars of productivity growth. Supportive institutions and policies, underpinned by macroeconomic stability, can strengthen all three pillars. Asia’s dynamic track record suggests that attaining high income status, while challenging, is achievable.
Asian Development Outlook 2017: Transcending the Middle-Income Challenge
277
Asian Development Outlook 2017: Transcending the Middle-Income Challenge
277Paperback
Product Details
| ISBN-13: | 9789292577872 |
|---|---|
| Publisher: | Asian Development Bank |
| Publication date: | 03/30/2017 |
| Series: | Asian Development Outlook (ADO) Series , #2017 |
| Pages: | 277 |
| Product dimensions: | 8.50(w) x 10.98(h) x (d) |