Innovative East Asia: The Future of Growth PDF (Adobe DRM) download by Shahid Yusuf

Innovative East Asia: The Future of Growth

The World Bank
Publication date: March 2003
ISBN: 9780821353561
Digital Book format: PDF (Adobe DRM)

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East Asian economies of the 1980s and 1990s were among the most competitive exporters of manufactured products and sustained growth rates far higher than those of other countries, developing or industrial. But the crisis of 1997-1998 uncovered weaknesses in the system, and faith in the potential of the region to sustain growth was shaken. The next decade is likely to be decisive for East Asia. The region will maintain and augment its past economic successes only if individual countries pursue a three-stranded formula for growth, through policies that provide the macroeconomic stability and the institutional foundations needed for a growth spiral led by innovation. The future performance of East Asia's middle-and high-income countries rests on their creating a competitive environment keyed to knowledge-based activities supporting innovation and the commercialization of new ideas.
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