Asia Rising: A Sectoral Perspective

48 Pages Posted: 25 Jun 2007

See all articles by Florence Jaumotte

Florence Jaumotte

Organization for Economic Co-Operation and Development (OECD)

Nicola Spatafora

International Monetary Fund (IMF)

Date Written: June 2007

Abstract

This paper undertakes a cross-country analysis of productivity growth at both the aggregate and sectoral level. It finds that Asia's remarkable output growth over the past 40 years reflected both high investment, and rapid productivity increases. These factors were in turn supported by the region's relatively strong institutional and policy environment, which encouraged resource shifts from low- to high-productivity sectors. Looking ahead, sustaining rapid growth requires meeting a number of key challenges: (i) implementing reforms to boost productivity in the increasingly important, but currently lagging, service sectors; (ii) providing policy support for continuing the shift of resources from agriculture to industry and services; (iii) strengthening policy frameworks in late-developing countries.

Suggested Citation

Jaumotte, Florence and Spatafora, Nikola, Asia Rising: A Sectoral Perspective (June 2007). IMF Working Papers, Vol. , pp. 1-46, 2007. Available at SSRN: https://ssrn.com/abstract=995630

Florence Jaumotte

Organization for Economic Co-Operation and Development (OECD) ( email )

2 rue Andre Pascal
Paris Cedex 16, 75775
France

Nikola Spatafora (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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