World Bank - Sustaining rapid development in East Asia and the Pacific, Part 49
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Sustaining Rapid Development in East Asia and the Pacific Development in Practice (Washington, D.C.)
author
:
publisher
:
World Bank
isbn10 | asin
:
0821323865
print isbn13
:
9780821323861
ebook isbn13
:
9780585224329
language
:
English
subject
East Asia--Economic conditions, East Asia--Economic policy, Pacific Area--Economic conditions, Pacific Area--Economic policy.
publication date
:
1993
lcc
:
HC460.5.S88 1993eb
ddc
:
338.95
subject
:
East Asia--Economic conditions, East Asia--Economic policy, Pacific Area--Economic conditions, Pacific Area--Economic policy.
Page iii
Sustaining Rapid Development in East Asia and the Pacific
THE WORLD BANK WASHINGTON, D. C.
Page iv
1993 The International Bank for Reconstruction and Development / THE WORLD BANK
All rights reserved Manufactured in the United States of America First printing March 1993
The Development in Practice series publishes reviews of the World Bank's activities in different regions and sectors. It lays particular emphasis on the progress that is being made and on the policies and practices that hold the most promise of success in the effort to reduce poverty in the developing world.
The findings, interpretations, and conclusions expressed in this study are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent.
The denominations, classifications, boundaries, and colors used in the map do not imply on the part of the World Bank any judgment on the legal or other status of any territory or any endorsement or acceptance of any boundary.
Library of Congress Cataloging-in-Publication Data Sustaining rapid development in East Asia and the Pacific. p. cm.(Development in practice) Includes bibliographical references. ISBN 0-8213-2386-5 1. East AsiaEconomic conditions. 2. East AsiaEconomic policy. 3. Pacific AreaEconomic conditions. 4. Pacific AreaEconomic policy. I. International Bank for Reconstruction and Development. II. Series: Development in practice (Washington, D.C.) HC460.5.S88 1993 338.95dc20 93-3075 CIP
Page v
This report, prepared by the Office of the Vice President, East Asia and Pacific Region, is based on the economic and operational work in the region and other parts of the World Bank. The principal authors were Ramgopal Agarwala and Vinod Thomas. Important contributions were made by Brandon Carter, Jeffrey Hammer, Osamu Kawaguchi, Deena Khatkhate, Kali Kondury, and Vikram Nehru. The authors also drew on the work of Frida Johansen, Anthony Rowley, and Subroto Roy. The report was produced under the general guidance of Gautam Kaji.
Many people in and outside the Bank provided valuable comments and contributions. Data from the International Economics Department were the basis for the regional development indicators. The support staff of the report included Carmencita Clay, Okie Moon Dorian, and Jae Shin Yang. Bruce Ross-Larson was the principal editor.
Page vii
Foreword
The countries of East Asia and the Pacific have been at the leading edge of economic development in many respects over the past quarter century. Progress on some fronts has been so remarkable that policymakers around the world are searching for the lessons of East Asia's successes. But equally, the regionwhich is home to two-fifths of the population of the developing worldalso faces tough economic problems and growing challenges.
Most of our work in the region is country-focused. Yet a regional survey such as this can bring out commonalities as well as differences that can inform country analysis. A regional assessment can also shed light on emerging problems that have a regional or global dimensionbe it trade and investment or infrastructure and the environment. A regional overview can bring perspectives that would help in the design and implementation of country strategies. And, indeed, this report brings out a number of such insights.
First, despite the diversity among countries, East Asia has achieved remarkable performance in economic growth, poverty reduction, and social development, including a narrowing of the gender gap. And it has managed to do that not only during periods of substantial government interventions but even more spectacularly during the period of market reforms. Behind this performance lies a uniquely pragmatic and effective style of economic management that steers clear of theoretical abstracts and ideological extremes. This approach to economic management characterizes the socialist economies in transition such as China and Viet Nam as much as it does the market economies such as the Republic of Korea and Malaysia. The region now faces some difficult medium-term challenges, but I am confident that if policymakers in the region can continue their pragmatic management, East Asia will make history by being the first developing region to overcome the poverty problem.
Page viii
Second, this regional development review brings into sharp focus the changing character of the region. Typically, one thinks of East Asia as a predominantly market-oriented and middle-income region. However, 80 percent of East Asia's population lives in socialist economies in transition, three times as many as live in the socialist economies in Eastern Europe and the former Soviet Union (FSU). Accordingly, the analytical challenges as well as resource requirements for the East Asia region during the 1990s will be enormous.
Third, even though East Asian economies have been undergoing reforms during the 1980s, the remaining reform agenda is still large and complex. In particular, the region needs to make a breakthrough during the 1990s in enterprise and financial sector reforms. Moreover, during the process of rapid growth, the region has accumulated serious problems of infrastructural bottlenecks, urban congestion, and pollution. And whereas East Asia is relatively successful in addressing some environmental concerns such as clean water, it has a long way to go in confronting the severe environmental problems such as air pollution, soil erosion, and deforestation.
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