Strategies and Policies for Structural Transformation in Asia

During the last three decades the economic performance of the Asian developing countries has been spectacular. In the 1980s their overall growth rate of gross domestic product (GDP) was 7.3 per cent compared with 6.5 per cent in the 1970s and about 5 per cent in the 1960s. However, the growth rates varied widely among the countries and have been accompanied by significant structural transformation of the economies in terms of the shares of GDP and employment originating in agriculture, industry and services. Both external and internal factors contributed to the high growth rates, their variations among countries and differences in structural transformation. The external factors included buoyant export markets caused by relatively high growth rates in industrial countries, a favorable international trading environment, and transfers of capital and technology to the Asian developing economies. Since all these countries faced the same external environment, differences in growth rates and structural transformation among them could be explained by internal factors such as differing resource endowments, sociocultural environment, growth strategies, economic policies and stages of development. Growth strategies and economic policies have been widely held to be the most important factors in explaining the high growth rates and rapid structural transformation in the countries and variations among them

Agricultural Price Policy in Asia: Issues and Areas of Reform

Recognition of the increasing importance of price policy reform in agriculture has led to the emergence of a considerable body of literature in the 1980s. The purpose of this article is to: (i) examine the likely thrust of agricultural strategy in the 1990s; (ii) analyze the role of price policy reforms in implementing that strategy; and (iii) indicate the areas of input and output price policy reforms. Agricultural prices play a key role in the efficient allocation of resources within agriculture and between domestic production and imports. In addition, they influence the allocation of resources between the agriculture and non-agriculture sectors

Inequality and the Imperative for Inclusive Growth in Asia

Developing Asia’s rapid growth rates that have contributed to a remarkable decline in the incidence of poverty have also been accompanied by rising income and expenditure inequalities and persistence of high levels of nonincome inequalities. These inequalities could be traced to various dimensions of unevenness in the growth process. In turn, the unevenness arises from policy factors as well as from structural transformation associated with growth. Further, unevenness arises from constraints to access to public services and inputs like land and credit. To address these causes of inequalities, the paper advocates a strategy of inclusive growth. This strategy rests on three anchors, i.e., expanding opportunities, broadening access to opportunities, and social protection that acts as a safety net and a springboard. These anchors reinforce each other to facilitate a process of allowing all members of society to participate in, and contribute to, the growth process on an equal footing regardless of their individual circumstances. Public policy to address the disadvantages of circumstances and thereby ensure an even playing field for all is the bedrock of inclusivenes