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Can a growing services sector renew Asia's economic growth?

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Title: Can a growing services sector renew Asia's economic growth?
Authors: Noland, Marcus
Park, Donghyun
Estrada, Gemma Esther B.
LC Subject Headings: Service industries - Asia
Asia - Commerce
East-West Center
Issue Date: Apr 2013
Publisher: Honolulu, HI : East-West Center
Series/Report no.: Asia-Pacific issues ; no. 109
Abstract: To continue Asia's economic growth the focus for expansion and improvement must move from export manufacturing to the services sector--primarily to cross-border trade in such modern services as finance, information and communication, and professional business services. As the Asian services-sector economies have historically been dominated by personal services rather than by more information-intensive services, serious concerns exist about their ability to rapidly and successfully grow these modern services. While Asia does have some well-known services-sector success stories--such as in India and the Philippines--most Asian services economies have a history of relatively slow developmental change. Removing internal and external policy and structural constraints will be key to productivity growth in modern cross-border services trade. Improving educational opportunities and strengthening infrastructure and capital and labor markets will all be needed complements to regulatory reform if Asia is to grow new and innovative service providers.
Description: For more about the East-West Center, see
Pages/Duration: 8 p.
Appears in Collections:AsiaPacific Issues

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