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World Bank East Asia And Pacific Economic Update 2011
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Book Synopsis World Bank East Asia and Pacific Economic Update 2011 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update 2011 written by World Bank and published by World Bank Publications. This book was released on 2013-06-26 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Bank East Asia and Pacific Economic Update is a comprehensive, twice-yearly review of the region's economies prepared by the East Asia and Pacific region of the World Bank. In 2011, an estimated 38 million people will move out of poverty, and the proportion of people living on less than US $2 a day expected to decrease to about 24 percent, down two percentage points from 2010. Growth in developing East Asia in the first half of 2011 continued to moderate, mainly due to weakening external demand. Domestic demand in East Asian economies remained the largest contributor to growth, although it is easing driven by the normalization of fiscal and monetary policy. Real GDP in developing East Asia is projected to increase by 8.2 percent in 2011 (4.7 percent excluding China), while growth will slow to 7.8 percent in 2012. Given the outlook for protracted low global growth, any possible stimulus should be fiscally sustainable, well-targeted, and directed at promoting the structural transformation needed to sustain stronger, domestically driven growth. Further investment in disaster management and prevention is also becoming more important for the region.
Book Synopsis World Bank East Asia and Pacific Economic Update 2011, Volume 2 by :
Download or read book World Bank East Asia and Pacific Economic Update 2011, Volume 2 written by and published by . This book was released on 2013 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Bank East Asia and Pacific Economic Update is a comprehensive, twice-yearly review of the region's economies prepared by the East Asia and Pacific region of the World Bank. In 2011, an estimated 38 million people will move out of poverty, and the proportion of people living on less than US
Book Synopsis World Bank East Asia and Pacific Economic Update, April 2024 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update, April 2024 written by World Bank and published by World Bank Publications. This book was released on 2024-04 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most economies in developing East Asia and Pacific (EAP) are growing faster than the rest of the world but slower than before the pandemic. Slowing global growth, still tight financial conditions, and an increase in trade protection and industrial support in large and rich countries are key aspects of the external environment shaping the region's economic performance. Amplified public and private debt, constrained macroeconomic policy, and increased policy uncertainty are the major domestic issues. EAP's current macroeconomic challenges risk obscuring the microeconomic foundations of longer-term growth. Over the last decade, EAP's growth has been driven by investment and capital deepening rather than by increased productivity of firms. Now private investment is weak and productivity declining†“further inhibiting the incentive to invest. Firms are the protagonists of productivity growth. Some of the weaker firms in EAP countries are beginning to catch up with stronger firms. But the stronger firms in the region are failing to take full advantage of new technologies: regional leaders risk becoming global laggards. Bold policy action to unleash competition, improve infrastructure and reform education with measured state support could revitalize the region's economy.
Book Synopsis East Asia Pacific at Work by : Truman G. Packard
Download or read book East Asia Pacific at Work written by Truman G. Packard and published by World Bank Publications. This book was released on 2014-05-07 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unprecedented progress of East Asia Pacific is a triumph of working people. Countries that were low-income a generation ago successfully integrated into the global value chain, exploiting their labor-cost advantage. In 1990, the region held about a third of the world’s labor force. Leveraging this comparative advantage, the share of global GDP of emerging economies in East Asia Pacific grew from 7 percent in 1992 to 17 percent in 2011. Yet, the region now finds itself at a critical juncture. Work and its contribution to growth and well-being can no longer be taken for granted. The challenges range from high youth inactivity and rising inequality to binding skills shortages. A key underlying issue is economic informality, which constrains innovation and productivity, limits the tax base, and increases household vulnerability to shocks. Informality is both a consequence of stringent labor regulations and limited enforcement capacity. In several countries, de jure employment regulations are more stringent than in many parts of Europe. Even labor regulations set at reasonable levels but poorly implemented can aggravate the market failures they were designed to overcome. This report argues that the appropriate policy responses are to ensure macroeconomic stability, and in particular, a regulatory framework that encourages small- and medium-sized enterprises where most people in the region work. Mainly agrarian countries should focus on raising agricultural productivity. In urbanizing countries, good urban planning becomes critical. Pacific island countries will need to provide youth with human capital needed to succeed abroad as migrant workers. And, across the region, it is critical to ‘formalize’ more work, to increase the coverage of essential social protection, and to sustain productivity. To this end, policies should encourage mobility of labor and human capital, and not favor some forms of employment - for instance, full-time wage employment in manufacturing - over others, either implicitly or explicitly. Policies to increase growth and well-being from employment should instead reflect and support the dynamism and diversity of work forms across the region.
Book Synopsis World Bank East Asia and Pacific Economic Update 2011 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update 2011 written by World Bank and published by World Bank Publications. This book was released on 2013-06-26 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Bank East Asia and Pacific Economic Update is a comprehensive, twice-yearly review of the region's economies prepared by the East Asia and Pacific region of the World Bank. In this edition, the report notes that real GDP growth in East Asia has been moderating after a sharp rebound from the global crisis. Inflation has become the key short-run challenge for the authorities in the region, complicated by a surge in portfolio capital inflows and rapidly increasing food and commodity prices that hit low-income households disproportionately. Over the medium-term, East Asia has the potential to sustain rapid increases in living standards even as the global economy enters a more challenging phase.
Book Synopsis World Bank East Asia and Pacific Economic Update, April 2023 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update, April 2023 written by World Bank and published by World Bank Publications. This book was released on 2023-03-31 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic activity in developing East Asia and Pacific has recovered from the recent shocks and is growing. However, output remains below pre-pandemic levels in many countries and inflation remains higher than target ranges in some countries. Near-term growth will depend on the dynamics of global growth and commodity prices, and financial tightening, which is likely to continue in the face of high inflation in the US. Taking a long-term view, growth in EAP has been faster and more stable than in much of the rest of the world. The result has been a striking decline in poverty and, in the last decade, also a decline in inequality. But it would be a mistake to let these achievements obscure vulnerabilities, past, present, and future. The region must implement structural, macro-financial, and climate-related reforms to address the problems of slowing productivity growth and scars from the pandemic, even as it faces up to the major challenges of deglobalization, aging and climate change.
Book Synopsis World Bank East Asia and Pacific Economic Update, October 2022 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update, October 2022 written by World Bank and published by World Bank Publications. This book was released on 2022-09-30 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: East Asia and the Pacific does not so far conform to the current narrative of stagflation. The region, with some exceptions, is growing faster and has lower inflation than other regions. And prospects for several countries have improved, as they bounced back from the distress of the Delta wave in a still buoyant global economy. But this rosy picture must not obscure four impediments to inclusive and sustainable growth: disease, deceleration, debt, and distortions. In particular, current policies to contain inflation and debt are distorting the markets for food, fuel and finance in ways that could compromise development goals. In each case, more efficient measures could address current difficulties without undermining longer term objectives.
Book Synopsis World Bank East Asia and Pacific Economic Update, October 2013 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update, October 2013 written by World Bank and published by World Bank Publications. This book was released on 2013-10-25 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Bank East Asia and Pacific Economic Update is a comprehensive, twice-yearly review of the region's economies prepared by the East Asia and Pacific region of the World Bank.
Book Synopsis World Bank East Asia and Pacific Economic Update, October 2023 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update, October 2023 written by World Bank and published by World Bank Publications. This book was released on 2023-10 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic activity in much of developing East Asia and Pacific (EAP), other than several Pacific Island Countries, has recovered from the succession of shocks since 2020 but is now slowing down. Private consumption and the recovery of tourism had sustained growth in the region but is running out of steam. Slowing global growth is leading to a contraction in exports. Public investment and private investment also remain low in much of the region. Most governments in the region are projected to consolidate fiscally in 2023. The revival of growth in the region will depend crucially on the state of the services sectors. Even though manufacturing has powered EAP development, services already account for more than half of value added and employment. A digital revolution is leading to structural change within all services sectors, with the combination of new domestic platform-based services and more internationally tradable services boosting productivity. Harnessing the digital revolution for inclusive economic growth requires deeper services reforms.
Book Synopsis World Bank East Asia and Pacific Economic Update, April 2019 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update, April 2019 written by World Bank and published by World Bank Publications. This book was released on 2019-04-23 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite global economic volatility, growth in developing East Asia and Pacific (EAP) was resilient during 2018, and in the first quarter of 2019. The growth outlook for developing EAP is expected to soften in 2019, as China's economic expansion continues to moderate. Downside risks remain, including expected moderated global demand, continued trade tensions, the risk of a faster-thanexpected financial tightening in developed economies, the risk of weaker-than-expected growth in China, and continued financial market volatility. Also, or in combination, these risks could weigh on the· region's growth prospects in the short-to-medium term. To manage global and regional headwinds, developing EAP economies should reduce short-term vulnerabilities and enhance buffers, redouble their commitment to an open, rules-based international trade and investment framework, including through deeper regional economic integration, and deepen structural reforms. The intensification of risks underscores the need to continue to enhance economic security by investing in human capital and strengthen social assistance.
Book Synopsis East Asia and Pacific Economic Update October 2014 by : World Bank
Download or read book East Asia and Pacific Economic Update October 2014 written by World Bank and published by World Bank Publications. This book was released on 2014-10-09 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: In China, growth will gradually moderate, reflecting intensified policy efforts to address financial vulnerabilities and structural constraints, and place the economy on a more sustainable growth path. In the rest of the region, growth will pick up, as exports firm in line with strengthening global activity, and the impact of domestic adjustment in large ASEAN countries eases. Significant uncertainties remain about the sustainability of the global recovery, and global financial conditions are likely to tighten. The short-term priority in several countries is to address the vulnerabilities and inefficiencies created by an extended period of loose financial conditions and fiscal stimulus. In China, the authorities need to strike a balance between containing growing risks from rising leverage and meeting the indicative growth targets. Over the longer term, the focus in most countries must be on structural reforms to enhance export competitiveness. The report’s special section focuses on education & skills development; international migration; and the policy priorities for the Pacific Island Countries.
Book Synopsis World Bank East Asia and Pacific Economic Update 2012 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update 2012 written by World Bank and published by World Bank Publications. This book was released on 2013-06-27 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Growth in developing East Asia and the Pacific remained strong in 2011, although it slowed from its post-crisis peaks. Strong domestic demand offset weaker external demand from the United States and Western Europe. Looking ahead, the external environment is likely to remain weak. The best prospects for the region to maintain high rates of growth, job creation, and poverty reduction are through rebalancing towards domestic demand and investing in productivity increases and further international integration. Developing East Asia grew by 8.2 percent in 2011 (4.3 percent excluding China), a sharp decline from the nearly 10 percent growth rate recorded in 2010 (7.0 percent excluding China). This slowdown was largely due to lower-thanexpected growth in manufacturing exports and supply disruptions in the wake of the Japan earthquake and tsunami and the severe flooding in Thailand, Lao, PDR, and Cambodia. Domestic demand and investment compensated for these factors and were aided by monetary policy loosening in some countries. Yet, for many countries, this pace of growth was a return to pre-crisis growth trends following the 2010 rebound that followed the global financial and economic crisis. East Asian growth remained impressive on a global scale. In 2011, growth was around a percentage point higher than in South Asia and around 3 percentage points higher than in Eastern Europe and Latin America. Poverty continued to fall across the region with the number of people living on less than US$2 a day expected to decrease to 513 million by 2012 from 565 million in 2010. Yet much of this is driven by gains in China, and the rate of poverty reduction seems to be slowing in step with moderating economic expansion in China and other parts of the region."--page 1.
Book Synopsis World Bank East Asia and Pacific Economic Update 2013 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update 2013 written by World Bank and published by World Bank Publications. This book was released on 2013-06-27 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Bank East Asia and Pacific Economic Update is a comprehensive, twice-yearly review of the region's economies prepared by the East Asia and Pacific region of the World Bank. In this edition, the report notes that in China, growth slowed to 7.8 percent in 2012 due to rebalancing efforts. Risks emanating from the Eurozone and the U.S. have declined since the middle of last year. While still fragile, there are signs of a turnaround in real activity in high income economies, thus external demand for the East Asia and Pacific region's exports will stabilize this year. Movements in high-income country currencies, such as the yen, are likely to affect trade and investment flows in the region in the short term, but a return to sustained growth in Japan would benefit the region as a whole. An emerging issue is the risk of overheating in some of the larger economies. Policymakers need to continue to be vigilant to react to shocks in the world economy, but be prepared to withdraw stimulus as the world economy recovers. For countries that show some signs of inflationary pressures, it would be a good time to rebuild policy buffers.
Book Synopsis World Bank East Asia and Pacific Economic Update, April 2015 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update, April 2015 written by World Bank and published by World Bank Publications. This book was released on 2015-04-14 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: The East Asia and Pacific Economic Update provides regular, biannual analyses of development trends and economic policy issues across the East Asia and Pacific region.
Book Synopsis World Bank East Asia and Pacific Economic Update 2012 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update 2012 written by World Bank and published by World Bank Publications. This book was released on 2013-06-27 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Bank East Asia and Pacific Economic Update is a comprehensive, twice-yearly review of the region's economies prepared by the East Asia and Pacific region of the World Bank. In this edition, the report notes that the region is expected to contribute almost 40 percent of global growth in 2012, and a similar share in 2013. China's economic slowdown affected the region's economic performance. China's growth is projected to reach 7.9 percent this year, 1.4 percentage points lower than last year's 9.3 percent and the lowest growth rate since 1999. For 2014, we expect most countries in the region to benefit from a mild recovery in advanced countries as well as continued strong domestic demand. For economies in the region that face difficulties in budget execution, particularly of the capital budget, fiscal interventions could focus on increasing private domestic demand, such as targeted social assistance or investment tax credits.
Book Synopsis World Bank East Asia and Pacific Economic Update April 2016 by : World Bank
Download or read book World Bank East Asia and Pacific Economic Update April 2016 written by World Bank and published by World Bank Publications. This book was released on 2016-04-11 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past 6 months, developing East Asia and Pacific has faced a challenging external environment, but growth has generally remained resilient. Over the next 3 years, growth is expected to ease modestly. China will continue its gradual shift to a more sustainable growth path. Some economies will be affected by low commodity prices and weaker external demand. This outlook is subject to elevated risks. Countries should prioritize monetary and fiscal policies that reduce their exposure to risks and strengthen market confidence. In China, there is a need to reduce leverage. In several countries, action is required to enhance transparency, strengthen accountability, and redefine the role of the state. Efforts to reduce barriers to trade should be redoubled, with a particular focus on non-tariff measures and regulatory barriers, including to trade in services. The region must increase its readiness to benefit from the digital revolution, and in particular develop the essential “analog complements†? to digital technologies.
Book Synopsis World Bank East Asia and Pacific Economic Update October 2015 by :
Download or read book World Bank East Asia and Pacific Economic Update October 2015 written by and published by World Bank Publications. This book was released on 2015 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: The East Asia and Pacific Economic Update provides regular, biannual analyses of development trends and economic policy issues across the East Asia and Pacific region.
