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China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...
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Growth in developing Asia will need to rely more on improvements in productivity growth and less on capital deepening …. Although there is no single reform path to spur productivity growth, financial system deepening is central to a more efficient …'s infrastructure deficit and improve access to financing for small and medium enterprises, can help raise productivity. Further, as …
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