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.
Search Asia Pathways
Subscribe / Connect
- AEC is due—but what about institutions?
- Plurilateral trade agreements: an overlooked but powerful force for international trade opening for Asia?
- The financial sector needs to be driving the green transformation
- Will Asian investment follow trade with Latin America?
- Five bond market trends to watch out for in 2015
- New Zealand: A farming and services growth model for Asia? on
- The challenges to internationalizing Japanese higher education on
- Is regional economic integration in Central Asia a doomed vision or a promising future? on
- Government procurement – key element in TPP; Missed opportunity in RCEP? on
- How the Philippines benefits from Australia’s booming links with the PRC on
Receive ADBI's daily e-newsline for unparalleled breadth of coverage on development topics from across Asia and the Pacific.