Developing economies in Asia and the Pacific (developing Asia) have registered remarkable growth over the past few decades. During 1980–2010, developing Asia’s real gross domestic product (GDP) grew 7.1% annually on average, compared to the world average of 2.8%.
No one can say that the second largest economy in the world is trapped. Decades of structural change and rapid growth allowed for a swift transition from a low-income to a middle-income country. The challenge today lies in moving up to higher-income status. How could the People’s Republic of China (PRC) avoid the trap?
More than 220 proposals have been advanced for a global development framework to succeed the Millennium Development Goals (MDGs), which come to an end in 2015.
The discussions around the post-2015 development agenda – and the work of the High Level Panel of Eminent (HLPEP) persons – were seen controversially in the last months. Some felt that the consultation led by the HLPEP would lead into a kitchen sink report, which would cover every possible development concern.
As articulated by Cavoli, Rajan, and Siregar (2004) in their survey of East Asian financial integration, financial integration is a multidimensional process closely associated with development of financial markets.
Last week, the development economics world was shaken by an open clash between two of its most distinguished luminaries—Amartya Sen and Jagdish Bhagwati. One is a Nobel Prize winner in the field of economics, and the other is widely believed to be worthy of one.
Asian stock markets have been under pressure recently from an announcement by the US Federal Reserve that “quantitative easing”, or QE as it is commonly referred to, is likely to be tapered off in the near future.
International experience has shown that fiscal policy can play a leading role in promoting a shift toward a more inclusive economic model, balanced income distribution, and improved living standards.
The effects of global climate change are multifaceted. Pacific nations are highly vulnerable to the impacts, including intensified storm surges, cyclones, and rising sea levels.
2014 is shaping up to be another challenging year for bond markets in Asia after a see-saw 2013 which saw prices rise at the start of the year, and then fall back on news that the US Federal Reserve plans to reduce or ‘taper’ its quantitative easing operations.