Development Imperatives for the Asian Century
Evidence-based economic policies—pragmatic policies that work—played a major role in Asia’s success in raising its living standards in the last half century. However, growth prospects are now threatened by rising income inequality and environmental degradation if Asia continues on its established growth path. Evidence strongly argues for Asia to broaden its development priorities into a triple bottom line: that is, a focus on growth, social inclusion, and environmental sustainability. The paper focuses on how Asia can manage this ambitious goal. Possible resistance from vested interests is to be anticipated, but pursuing this path could bring large overall gains. The paper looks at how Asian governments and their development partners can make a difference in promoting the three policy objectives. Innovations in governance for better accountability, transparency, and feedback will be necessary for achieving these priorities. Societies in Asia and the international community will also need rigorous evidence and analysis to establish the benefits of this strategy and to make informed policy choices. International financial institutions and the donor community can provide financial lubricants for cooperation, as well as knowledge to help governments counter vested interests and champion regional perspectives on transborder issues. Reversing the negative social and environmental trends has to become a real development priority rather than a mere aspiration. Progress is possible on the three bottom-line goals, but it will require focusing Asia’s vaunted methods of learning and innovation to meet the new challenges.
|Date of creation:||19 Jul 2013|
|Date of revision:|
|Contact details of provider:|| Postal: |
Fax: (63-2) 636-2648
Web page: http://www.adb.org
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Thomas, Vinod & Wang, Yan & Fan, Xibo, 2001. "Measuring education inequality - Gini coefficients of education," Policy Research Working Paper Series 2525, The World Bank.
- Hongyi Li & Heng-fu Zou, 2002.
"Inflation, Growth, and Income Distribution: A Cross-Country Study,"
Annals of Economics and Finance,
Society for AEF, vol. 3(1), pages 85-101, May.
- Hongyi Li & Heng-fu Zou, 2002. "Inflation, Growth, and Income Distribution: A Cross-Country Study," CEMA Working Papers 85, China Economics and Management Academy, Central University of Finance and Economics.
- Banerjee, Abhijit V & Duflo, Esther, 2003.
" Inequality and Growth: What Can the Data Say?,"
Journal of Economic Growth,
Springer, vol. 8(3), pages 267-99, September.
- Justin Yifu Lin, 2012. "New Structural Economics : A Framework for Rethinking Development and Policy," World Bank Publications, The World Bank, number 2232, September.
- Vinay Bhargava & Emil Bolongaita, 2004. "Challenging Corruption in Asia : Case Studies and a Framework for Action," World Bank Publications, The World Bank, number 15069, September.
- Yifu, Justin & Wang, Yan, 2009.
"China's Integration with the World: Development as a Process of Learning and Industrial Upgrading,"
Policy Research Working Paper Series
4799, The World Bank.
- Justin Yifu Lin & Yan Wang, 2012. "China'S Integration With The World: Development As A Process Of Learning And Industrial Upgrading," China Economic Policy Review (CEPR), World Scientific Publishing Co. Pte. Ltd., vol. 1(01), pages 1250001-1-1.
- Lopez, Ramon & Thomas, Vinod & Yan Wang, 1998. "Addressing the education puzzle : the distribution of education and economic reform," Policy Research Working Paper Series 2031, The World Bank.
When requesting a correction, please mention this item's handle: RePEc:ris:adbewp:0360. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maria Susan M. Torres)
If references are entirely missing, you can add them using this form.