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The Service Sector in Lower-Income Asian Economies

Author

Listed:
  • Estrada, Gemma

    (Asian Development Bank)

  • Acharya, Yubraj

    (Asian Development Bank)

  • Batten, Aaron

    (Asian Development Bank)

  • Brimble, Peter

    (Asian Development Bank)

  • Doung, Poullang

    (Asian Development Bank)

  • Gulamov, Mirzo Iskandar

    (Asian Development Bank)

  • Hossain, Mohammad Zahid

    (Asian Development Bank)

  • Mellor, Dominic

    (Asian Development Bank)

  • Park, Donghyun

    (Asian Development Bank)

  • Rahman, Shamsur

    (Asian Development Bank)

Abstract

In the past 10 years, the service sector has been a significant contributor to overall economic growth in Bangladesh, Cambodia, Nepal, Papua New Guinea, Uzbekistan, and Viet Nam. Sector growth has been supported by strong industrial growth in some while in others the critical factors have been liberalization, structural reforms, government support, and foreign investments. In order to increase the labor productivity of the sector and realize its potential to contribute to inclusive growth, these countries must address gaps in human capital and the higher costs of setting up new businesses and of doing business that stifle entrepreneurship and private enterprise. These impediments also stand in the way of developing the industry sector and of broader economic growth and development. Policy reforms that ease those impediments will help to achieve balanced growth in which the service and industry sectors support and reinforce each other. As services tend to be more labor intensive, they can foster inclusive growth by serving as an engine for creating jobs.

Suggested Citation

  • Estrada, Gemma & Acharya, Yubraj & Batten, Aaron & Brimble, Peter & Doung, Poullang & Gulamov, Mirzo Iskandar & Hossain, Mohammad Zahid & Mellor, Dominic & Park, Donghyun & Rahman, Shamsur, 2013. "The Service Sector in Lower-Income Asian Economies," ADB Economics Working Paper Series 347, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0347
    Note: http://www.adb.org/sites/default/files/pub/2013/ewp-347.pdf
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    Cited by:

    1. Muhammad Salam & Javed Iqbal & Anwar Hussain & Hamid Iqbal, 2018. "The Determinants of Services Sector Growth: A Comparative Analysis of Selected Developed and Developing Economies," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 57(1), pages 27-44.

    More about this item

    Keywords

    services; structural change; growth; Asia;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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