Moving up the ladder: development challenges for low & middle income Asia

Besides export expansion, a growing middle class in Asia has contributed to the area's economic expansion, providing Asian countries with a window of opportunity to leap from low/middle income levels to high income levels.

It may sound easy for these countries to run up the ladder of economic growth, but the potential risks of quickly shifting from low/middle to high income levels are often overlooked.

Careful studies in history reveal that the experience of moving up the ladder of economic growth has varied among countries.

This book explores (1) the current state of Asian economies and 2) the conditions or policy counter-measures that lead to higher income levels under changing external circumstances.

This is illustrated through case studies on five Asian economies, with emphasis on their structural problems.

It also aims to paint a comprehensive picture of necessary policies, which will encourage Asian countries to move up the ladder of growth.Contents:Current Status and Development Challenges for Asia:Current Situation and Challenges of Asia's Middle-Income Economies (Ryuichi Ushiyama)Determinants of Economic Growth in East Asia: A BMA Approach (Hiroyasu Hasegawa and Shigeyuki Hamori)Common Policy Issues in Asian Countries:Industrial Structural Change and Productivity Growth in the Era of Global Value Chains (GVCs) (Fumihide Takeuchi)Financial Development, Openness, and Growth Performance (Wang Chen and Takuji Kinkyo)Human Resource Development in Asia: Expected Role of Higher Education (Shigesaburo Kabe)Case Studies: Current State and Challenges of Five Asian Countries:Affirmative Action and Transformation in Malaysia (Hwok-Aun Lee)Vietnam: New Doi Moi: Strategy and Priorities of Development Policies for Lower Middle Income Country (Nguyen Cao Duc)Thailand: How to Consolidate Social Security Systems: Universal Healthcare/Pension Systems (Worawan Chandoevwit, Tirnud Paichayontvijit and Yos Vajragupta)China: Economic Structure Change and Outward Direct Investment (ODI) (Yongzhong Wang, Guoxue Li and Bijun Wang)The Role of Judiciary in India's Economic Development (Sukanya Natarajan)Readership: Students and the general public who would like to understand the current state of Asian economies and the policy measures that would lead to higher income levels in these economies.