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Closing Development Gaps: Challenges and Policy Options

  • H. Brooks, Douglas

    (Asian Development Bank)

  • Hasan, Rana

    (Asian Development Bank)

  • Lee, Jong-Wha

    (Asian Development Bank)

  • H. Son, Hyun

    (Asian Development Bank)

  • Zhuang, Juzhong

    (Asian Development Bank)

There are significant income and nonincome development gaps around the world. Closing these gaps will require not only increasing and sustaining economic growth in low-income regions, but also policies that close nonincome development gaps directly. Governments need to support private investment and entrepreneurship by investing in human capital and infrastructure; developing the financial sector; improving governance; and eliminating other impediments created by market, institutional, or policy failures. Policy makers should improve access to and quality of health, education, and other social services. This means better targeting and increased public spending on social services that directly benefit the poor; innovative delivery mechanisms informed by rigorous evaluation; and social protection systems. The experience of developing Asia and others has shown that external trade and finance—including foreign direct investment, remittances, and aid—play a critical role. It is therefore imperative that governments continue to promote globalization and regional integration.

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Article provided by Asian Development Bank in its journal Asian Development Review.

Volume (Year): 27-2 (2010)
Issue (Month): 2 ()
Pages: 1-28

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Handle: RePEc:ris:adbadr:2721
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  1. Zhuang, Juzhong & Gunatilake, Herath & Niimi, Yoko & Ehsan Khan, Muhammad & Jiang, Yi & Hasan, Rana & Khor, Niny & S. Lagman-Martin, Anneli & Bracey, Pamela & Huang, Biao, 2009. "Financial Sector Development, Economic Growth, and Poverty Reduction: A Literature Review," ADB Economics Working Paper Series 173, Asian Development Bank.
  2. Jamison, Eliot A. & Jamison, Dean T. & Hanushek, Eric A., 2007. "The effects of education quality on income growth and mortality decline," Economics of Education Review, Elsevier, vol. 26(6), pages 771-788, December.
  3. Thierry Bracke & Matthieu Bussière & Michael Fidora & Roland Straub, 2008. "A framework for assessing global imbalances," Occasional Paper Series 78, European Central Bank.
  4. Kakwani, N., 1993. "Performance in living standards : An international comparison," Journal of Development Economics, Elsevier, vol. 41(2), pages 307-336, August.
  5. Barro, Robert J. & Lee, Jong Wha, 2013. "A new data set of educational attainment in the world, 1950–2010," Journal of Development Economics, Elsevier, vol. 104(C), pages 184-198.
  6. Zhuang, Juzhong & de Dios, Emmanuel & Lagman-Martin, Anneli, 2010. "Governance and Institutional Quality and the Links with Economic Growth and Income Inequality: With Special Reference to Developing Asia," ADB Economics Working Paper Series 193, Asian Development Bank.
  7. Luis Serven & César Calderon, 2004. "The Effects of Infrastructure Development on Growth and income," Econometric Society 2004 Latin American Meetings 173, Econometric Society.
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