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An East Asian Renaissance : Ideas for Economic Growth

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  • Indermit Gill
  • Homi Kharas
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    Abstract

    The region has been transformed by these developments, changing from a set of countries that rapidly integrated with the world to one that is also aggressively exploiting the sources of dynamism that lie within Asia. But countries in East Asia now face the domestic side-effects of rapid growth driven by international integration: congestion, conflict, and corruption. The challenge now is to complement global and regional integration with domestic integration. This requires ensuring vibrant cities that are not only linked to the outside world but also well-integrated domestically, strengthening social cohesion and reducing inequality, and providing clean governments which efficiently reinvest the economic returns that accompany fast growth.

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    Bibliographic Info

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    This book is provided by The World Bank in its series World Bank Publications with number 6798 and published in 2007.

    ISBN: 978-0-8213-6747-6
    Handle: RePEc:wbk:wbpubs:6798

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    Related research

    Keywords: Law and Development - Trade Law International Economics and Trade - Trade and Regional Integration International Economics and Trade - Free Trade Banks and Banking Reform Economic Theory and Research Finance and Financial Sector Development Macroeconomics and Economic Growth;

    References

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    1. Shang-Jin Wei, 2000. "How Taxing is Corruption on International Investors?," The Review of Economics and Statistics, MIT Press, vol. 82(1), pages 1-11, February.
    2. Brunetti, Aymo & Weder, Beatrice, 2003. "A free press is bad news for corruption," Journal of Public Economics, Elsevier, vol. 87(7-8), pages 1801-1824, August.
    3. Takatoshi Ito & Anne O. Krueger, 2000. "The Role of Foreign Direct Investment in East Asian Economic Development, NBER-EASE Volume 9," NBER Books, National Bureau of Economic Research, Inc, number ito_00-2, July.
    4. World Bank, 2005. "East Asia Decentralizes : Making Local Government Work," World Bank Publications, The World Bank, number 7492, October.
    5. Benjamin A. Olken, 2007. "Monitoring Corruption: Evidence from a Field Experiment in Indonesia," Journal of Political Economy, University of Chicago Press, vol. 115, pages 200-249.
    6. Treisman, Daniel, 2000. "The causes of corruption: a cross-national study," Journal of Public Economics, Elsevier, vol. 76(3), pages 399-457, June.
    7. Rock, Michael T. & Bonnett, Heidi, 2004. "The Comparative Politics of Corruption: Accounting for the East Asian Paradox in Empirical Studies of Corruption, Growth and Investment," World Development, Elsevier, vol. 32(6), pages 999-1017, June.
    8. Jakob Svensson, 2005. "Eight Questions about Corruption," Journal of Economic Perspectives, American Economic Association, vol. 19(3), pages 19-42, Summer.
    9. Chowdhury, Shyamal K., 2004. "The effect of democracy and press freedom on corruption: an empirical test," Economics Letters, Elsevier, vol. 85(1), pages 93-101, October.
    10. Daniel Kaufmann & Shang-Jin Wei, 1999. "Does "Grease Money" Speed Up the Wheels of Commerce?," NBER Working Papers 7093, National Bureau of Economic Research, Inc.
    11. R. Gaston Gelos & Shang-Jin Wei, 2005. "Transparency and International Portfolio Holdings," Journal of Finance, American Finance Association, vol. 60(6), pages 2987-3020, December.
    12. Raymond Fisman, 2001. "Estimating the Value of Political Connections," American Economic Review, American Economic Association, vol. 91(4), pages 1095-1102, September.
    13. Fisman, Raymond & Gatti, Roberta, 2000. "Decentralization and corruption - evidence across countries," Policy Research Working Paper Series 2290, The World Bank.
    14. Mauro, Paolo, 1995. "Corruption and Growth," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 681-712, August.
    15. Lui, Francis T, 1985. "An Equilibrium Queuing Model of Bribery," Journal of Political Economy, University of Chicago Press, vol. 93(4), pages 760-81, August.
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    Cited by:
    1. Canuto, Otaviano & Sharma, Manu, 2011. "Asia and South America: A Quasi-Common Economy Approach," World Bank - Economic Premise, The World Bank, issue 65, pages 1-7, September.
    2. Pepinsky, Thomas B., 2012. "99 Problems (But A Crisis Ain’t One) Political Business and External Vulnerability in Island Southeast Asia," Working Papers 43, JICA Research Institute.
    3. Vivarelli, Marco, 2014. "Structural Change and Innovation as Exit Strategies from the Middle Income Trap," IZA Discussion Papers 8148, Institute for the Study of Labor (IZA).
    4. Coulibaly, Souleymane, 2012. "Rethinking the form and function of cities in post-Soviet countries," Policy Research Working Paper Series 6292, The World Bank.
    5. Im, Fernando Gabriel & Rosenblatt, David, 2013. "Middle-income traps : a conceptual and empirical survey," Policy Research Working Paper Series 6594, The World Bank.
    6. World Bank, 2008. "Thailand Social Monitor on Youth : Development and the Next Generation," World Bank Other Operational Studies 8036, The World Bank.
    7. Miankhel, Adil Khan & Kalirajan, Kaliappa & Thangavelu, Shandre, 2010. "Integration, decoupling and the global financial crisis: A global perspective," MPRA Paper 22837, University Library of Munich, Germany.
    8. Tulus T.H. Tambunan, . "Indonesia: Building an Inclusive Development Model," Chapters, Economic Research Institute for ASEAN and East Asia (ERIA).
    9. Flaaen, Aaron & Ghani, Ejaz & Mishra, Saurabh, 2013. "How to avoid middle income traps ? evidence from Malaysia," Policy Research Working Paper Series 6427, The World Bank.
    10. Ragayah Haji Mat Zin, 2014. "Malaysian Development Experience:Lessons for Developing Countries," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 6(1), pages 17-56, April.
    11. Kawai, Masahiro & Wignaraja, Ganeshan, 2008. "Regionalism as an Engine of Multilateralism: A Case for a Single East Asian FTA," Working Papers on Regional Economic Integration 14, Asian Development Bank.
    12. Brecht, Henrike & Deichmann, Uwe & Wang, Hyoung Gun, 2013. "A global urban risk index," Policy Research Working Paper Series 6506, The World Bank.
    13. Zhang Yunling, . "Role of Regional Institutions in East Asia," Chapters, Economic Research Institute for ASEAN and East Asia (ERIA).
    14. Otaviano Canuto & Manu Sharma, 2011. "Asia and South America: A Quasi-Common Economy Approach," World Bank Other Operational Studies 10076, The World Bank.
    15. Jesus Sáenz González & Emma García-Meca, 2014. "Does Corporate Governance Influence Earnings Management in Latin American Markets?," Journal of Business Ethics, Springer, vol. 121(3), pages 419-440, May.
    16. World Bank, 2012. "Bangladesh - Towards Accelerated, Inclusive and Sustainable Growth : Opportunities and Challenges, Volume 2. Main Report," World Bank Other Operational Studies 12121, The World Bank.
    17. Joseph Lim, 2013. "The Impact of the Global Financial Meltdown and New Growth Strategies for the Philippines," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 5(2), pages 69-100, July.
    18. Rana, Pradumna Bickram & Cheng, Tianyin & Chia, Wai-Mun, 2012. "Trade intensity and business cycle synchronization: East Asia versus Europe," Journal of Asian Economics, Elsevier, vol. 23(6), pages 701-706.
    19. Yukon Huang & Alessandro Magnoli Bocchi, 2009. "Reshaping Economic Geography in East Asia," World Bank Publications, The World Bank, number 2590, October.
    20. Marie Rama, 2012. "Corporate Governance and Corruption: Ethical Dilemmas of Asian Business Groups," Journal of Business Ethics, Springer, vol. 109(4), pages 501-519, September.
    21. Tho, Tran Van, 2013. "The Middle-Income Trap: Issues for Members of the Association of Southeast Asian Nations," ADBI Working Papers 421, Asian Development Bank Institute.
    22. Agénor, Pierre-Richard & Canuto, Otaviano & Jelenic, Michael, 2014. "Access to Finance, Product Innovation, and Middle-Income Growth Traps," World Bank - Economic Premise, The World Bank, issue 137, pages 1-7, March.
    23. Sujarwoto & Gindo Tampubolon, 2011. "Child health and mothers’ social capital in Indonesia through crisis," Brooks World Poverty Institute Working Paper Series 14911, BWPI, The University of Manchester.
    24. Huang Yiping & Jiang Tingsong, 2010. "What Does the Lewis Turning Point Mean for China? A Computable General Equilibrium Analysis," Macroeconomics Working Papers 22718, East Asian Bureau of Economic Research.

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