World Bank East Asia and Pacific Economic Update, October 2018

World Bank

No 30447, World Bank Publications - Reports from The World Bank Group

Abstract: Growth in developing East Asia and Pacific (EAP) was resilient during the first half of 2018. Although the external environment has become less favorable in some respects, the outlook for the region remains positive. After peaking in 2017, growth in developing EAP is expected to slow modestly in 2018, primarily reflecting the continued moderation in China’s economic expansion as its economy continues to rebalance. However, heightened uncertainty has intensified the risks to the region’s outlook. An escalation in trade tensions and heightened financial market turbulence, either due to an acceleration in U.S. monetary policy normalization or contagion from other emerging markets could threaten the region’s growth prospects. To navigate uncertainty, regional economies should reduce short-term vulnerabilities and enhance buffers, redouble their commitment to an open, rules-based international trade and investment framework, including through deeper regional economic integration, and deepen structural reforms. The intensification of risks underscores the need to continue to enhance economic security and promote economic mobility by: expanding and strengthening social assistance and insurance programs; investing in prenatal and early childhood development; and reducing gaps in educational access and quality for disadvantaged groups and in lagging areas.

Keywords: Finance and Financial Sector Development-Finance and Development International Economics and Trade-Export Competitiveness Macroeconomics and Economic Growth-Economic Growth Macroeconomics and Economic Growth-Economic Policy; Institutions and Governance Macroeconomics and Economic Growth-Fiscal & Monetary Policy Poverty Reduction-Achieving Shared Growth (search for similar items in EconPapers)
Date: 2018
Note: ISBN 978-1-4648-1366-5
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Citations: View citations in EconPapers (4)

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