Archive | May, 2012 Trade
The decades leading to the current global economic turmoil saw many developing countries attempt to pursue the East Asian development model, which is widely perceived to have been export-led. Is such growth possible in the post-crisis world with shrinking global imbalances? Historical data may provide useful clues. Our paper, titled "Can Asia Sustain an Export-Led Growth Strategy in the Aftermath of the Global Crisis? An Empirical Exploration", finds that Asian growth in the pre-crisis period was significantly correlated with the proportion of their manufactured exports that were sold in industrialized country markets. Given this evidence, Asian exports to other developing countries may not be good substitutes for their exports to developed countries. The policy implication is clear: a deceleration of exports to industrialized countries may limit prospects for post-crisis growth even if exports to other developing countries pick up the slack. Asian policy makers should, therefore, be more willing than ever to experiment with new paths to technological catch up. Read more.
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- Energy security and sustained growth: Analysis of the energy outlook and savings potential in the EAS region
- Skills and good jobs
- Mega-regional infrastructure initiatives – Asia’s new noodle bowl?
- What next for the Trans-Pacific Partnership?
- Housing policies for the PRC and Hong Kong, China: One nation, two systems
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