Most developing East Asia and Pacific (EAP) economies have bounced back from recent shocks and are growing. However, slowing global growth, elevated commodity prices and tightening financial conditions will affect economies in the region in 2023. In addition, EAP economies face the major challenges of de-globalization, aging, and climate change. More than two decades after the Asian Financial Crisis, this report takes a long-term view of growth trends and needed policy actions.
The East Asia and Pacific (EAP) region, with some exceptions, is growing faster and has lower inflation than most other regions. However, looking ahead, there are three risks to inclusive and sustainable growth: global deceleration, increasing debt, and policy distortions. More efficient policies could help households and firms cope with current difficulties without undermining long-term growth.
Just as the East Asia and Pacific (EAP) region was weathering recurrent COVID storms, 3 new clouds have gathered over the economic horizon: financial tightening in the U.S., structural slowdown in China, and the war in Ukraine. These difficulties should not, however, obscure the new avenues for growth in the region through trade and innovation.
This report explores gender differences in entrepreneurship for micro, small, and medium enterprises in Southeast Asia. It analyzes household and firm-level data from five Southeast Asian countries: Cambodia, Indonesia, Lao People’s Democratic Republic, Timor-Leste, and Vietnam, and reviews existing evidence from across the region.
This report seeks to deepen policy makers’ understanding of the critical role for innovation in the future growth and development of developing East Asia. To achieve this, the report examines the region’s key innovation challenges, assesses its state of innovation, and analyzes the main constraints firms face in effectively pursuing innovation.
This report is about the dramatic transformation of the region over the past half century and what has become known as the "East Asian development model", but also about challenges in the region like like slowing global trade & rapid technological change. This report therefore also argues how policy makers across developing East Asia will need to adapt their development model and sustain the region’s remarkable development performance.
