Only a few European economies and Korea and Taiwan Province of China reached high-income status during 1970-2010. Malaysia's real income per capita increased to 26 percent of the U.S. level in 2010 from 20 percent in 1970. Despite relatively strong growth and a substantial improvement in export...

The paper investigates the situation of middle-income economies around the world. Since 1965, only 18 economies with a population of more than 3 million and not dependent on oil exports have made the transition to being high income. Many more have not been able to move beyond the middle-income...

Structural transformation — the movement of workers from low-productivity to high-productivity activities — is an essential ingredient of inclusive growth. This paper reviews the evidence on why the pace of structural transformation has differed widely across countries in Asia, with a...

This study explores China's economic growth performance and prospects in global and Asian comparative perspectives. Using a general framework of cross-country analysis, the study identifies and discusses major factors underlying China's strong growth over the past decades and those contributing...

This study investigates the economic growth and catch-up of the Republic of Korea over the past half-century. The gap of output per worker between the Republic of Korea and United States has decreased rapidly, as the Republic of Korea's lower per capita income, relative to its potential level,...

The emergence of global corporate networks that integrate dispersed production, engineering, product development and research activities across geographic borders poses new challenges and opportunities for national industrial and innovation policies. This book is a collection of essays on...

The world is experiencing unprecedented increases in connectivity and global data flows. This is underpinning the so-called fourth industrial revolution. Cross-border data access, usage and exchange is essential to economic growth in the digital age. Every industry - including manufacturing,...

This paper examines the factors responsible for generating the services led growth witnessed in the Indian economy during 1980-2005. A sectoral growth accounting exercise shows that total factor productivity (TFP) growth was the fastest for services; moreover this TFP increase was significant in...

In today's world, the thrust to development is seen not only as a policy perspective but also as a national goal. 'Intellectual property' has come out as a critical variant of technology and the growth process ensuing thereon. Consistently being cited as an impetus to economic development and...

The report investigates the role of government programmes in strengthening SMEs’ resilience to external shocks, by focusing on SME digitalisation policies implemented in Korea during the COVID-19 outbreak. The report examines how digital tools and services have made SMEs more resilient during...