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The ASEAN Services Sector and the Growth Rebalancing Model

  • Aldaba, Rafaelita M.

    (Asian Development Bank Institute)

  • Pasadilla, Gloria O.

    (Asian Development Bank Institute)

The growth rebalancing model, which places the nontradable services sector on center stage, is important to spur on faster growth in this sector and tap its potential to become another engine of growth for ASEAN economies. While ASEAN countries have allocated the bulk of their fiscal stimulus packages to infrastructure spending, the present levels are nevertheless considered insufficient to create a large impact on growth. By focusing on the provision of infrastructure and social services like power, ports, roads, and mass transit, along with health and education, governments can address the large investment backlogs in these sectors. Except for Singapore, ASEAN countries remain protective of their services sectors. To encourage and renew private sector interest in infrastructure investment in the region, governments have an important role to play in creating an enabling environment, particularly in maintaining an efficient and competitive services sector. The growth rebalancing model's emphasis on environmental protection, low carbon growth, and green strategies places the spotlight on new areas of services investment where ASEAN countries could develop market niches. Thus, ASEAN governments should pursue policies that support these new growth areas by encouraging research and development, strengthening mechanisms for the transfer of green technology, and promoting greater private sector participation.

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Paper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 246.

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Length: 46 pages
Date of creation: 07 Sep 2010
Date of revision:
Handle: RePEc:ris:adbiwp:0246
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  1. Yung Chul Park, 2009. "The Global Economic Crisis, Regional Policy Coordination and Rebalancing Growth in Asia," EABER Working Papers 22856, East Asian Bureau of Economic Research.
  2. Fink, Carsten & Mattoo, Aaditya & Rathindran, Randeep, 2003. "An assessment of telecommunications reform in developing countries," Information Economics and Policy, Elsevier, vol. 15(4), pages 443-466, December.
  3. Fernandes, Ana M., 2007. "Structure and performance of the services sector in transition economies," Policy Research Working Paper Series 4357, The World Bank.
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  7. Hoekman, Bernard, 2006. "Liberalizing trade in services : a survey," Policy Research Working Paper Series 4030, The World Bank.
  8. Dessus, Sebastien, 2001. "Human capital and growth : the recovered role of education systems," Policy Research Working Paper Series 2632, The World Bank.
  9. Claire HOLLWEG & Marn-Heong WONG, 2009. "Measuring Regulatory Restrictions in Logistics Services," Working Papers d017, Economic Research Institute for ASEAN and East Asia (ERIA).
  10. Arunanondchai, Jutamas & Fink, Carsten, 2007. "Trade in health services in the ASEAN region," Policy Research Working Paper Series 4147, The World Bank.
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