Policies for structural transformation: An analysis of the Asia-Pacific experience

C.P. Chandrasekhar () and Jayati Ghosh
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C.P. Chandrasekhar: Professor, Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi

No WP/13/01, MPDD Working Paper Series from United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

Abstract: Remarkable growth and structural transformation in a number of developing Asian countries in the period after World War II have earned them the reputation for being “models” of successful development. Among the factors that contributed to their success were macroeconomic and regulatory policies that permitted them to finance that transformation without experiencing high inflation or balance of payments difficulties and ensure that growth was accompanied by human development advance. This article identifies a set of key policies that contributed to that success, examines the ways in which they did so, and assesses the degree to which they can inform policy in other Asian contexts in a period when much has changed in the national and international economic environment.

Keywords: Structural transformation; macroeconomic policy; sources of growth; public investment; capital controls; financial policy; wage-goods constraint (search for similar items in EconPapers)
JEL-codes: E2 E3 O11 O14 O19 O24 O25 (search for similar items in EconPapers)
Date: 2013-04
New Economics Papers: this item is included in nep-mac
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