Asia as a whole is experiencing a rapid demographic transition toward older populations, though different countries are at different stages of this region-wide trend. We document Asia's aging population, describe the region's old-age support systems, and highlight the regional socioeconomic...

The demographic dividend that contributed substantially to economic growth in developing Asia in the past is dissipating. Population aging affects growth through savings, capital accumulation, labor force participation, and total factor productivity. We examined the impact of aging on those four...

The maturing of the manufacturing sector in many Asian countries, combined with the relative backwardness of its service sector, has made service sector development a top priority for developing Asia. Our central objective is to broadly survey and analyze the current landscape of the region's...

China's growth is characterized by massive capital accumulation, made possible by high and increasing domestic savings. In this paper we develop a model with the aim of explaining why savings rates have been high and increasing, and we investigate the general equilibrium effects on capital...

The three pillars of Asian energy security are an adequate, reliable supply; environmental sustainability; and affordable access for all. As Asians become more affluent, managing demand by tackling outmoded subsidies so prices reflect true costs, exploring green innovations in technology and...

Rebalancing growth toward domestic demand has emerged as a key postcrisis challenge for sustaining developing Asia's rapid growth in the medium and long term. The central objective of this paper is to explore the role of fiscal policy in the region's rebalancing process. What matters most for...

While developing Asia has recovered strongly from the global crisis, the region faces the medium- and long-term challenge of sustaining growth beyond the crisis. The central objective of this paper is to empirically investigate the sources of economic growth in 12 developing Asian economies...

In recent years, inequality has risen in the region alongside rapid economic growth. The widening income gap strengthens the case for a government response, and fiscal policy is one of the most suitable policy instruments to promote a more equitable society that provides opportunities for all....

Advanced economies have a significantly longer history of using fiscal policy to tackle inequality and promote inclusive growth than those in developing Asia. Therefore, as developing Asia explores the more active use of fiscal policy for inclusive purposes, it can learn from the experiences of...