DOCSLIB.ORG

Mongolia. Competitiveness Assessment Of

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Mongolia. Competitiveness Assessment Of OCCASION This publication has been made available to the public on the occasion of the 50th anniversary of the United Nations Industrial Development Organisation. DISCLAIMER This document has been produced without formal United Nations editing. The designations employed and the presentation of the material in this document do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations Industrial Development Organization (UNIDO) concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries, or its economic system or degree of development. Designations such as “developed”, “industrialized” and “developing” are intended for statistical convenience and do not necessarily express a judgment about the stage reached by a particular country or area in the development process. Mention of firm names or commercial products does not constitute an endorsement by UNIDO. FAIR USE POLICY Any part of this publication may be quoted and referenced for educational and research purposes without additional permission from UNIDO. However, those who make use of quoting and referencing this publication are requested to follow the Fair Use Policy of giving due credit to UNIDO. CONTACT Please contact [email protected] for further information concerning UNIDO publications. For more information about UNIDO, please visit us at www.unido.org UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION Vienna International Centre, P.O. Box 300, 1400 Vienna, Austria Tel: (+43-1) 26026-0 · www.unido.org · [email protected] 4 OPEN SOCIETY i| MINISTRY OF INDUSTRY UNIDO FORUM AND TRADE Competitiveness Assessment of the Industrial Sector Final Report* Prepared for the Government of Mongolia Ministry of Industry and Trade By the United Nations Industrial Development Organization By Hai Nguyen Thanh UNIDO Consultant Backstopping Officer: Diana Hubbard Industrial Governance and Statistics Branch Vienna, January 2006 * This document has not been edited DDC 338'517 M-692 © 2007 Open Society Forum Jamiyan gun street - 5/1 Sukhbaatar district, Ulaanbaatar - 48 Mongolia Tel: 976-11-313207 Fax: 976-11-324857 Web: http://www.forum.mn E-mail: [email protected] The fundings, interpretations, and conclutions expressed in this report do not reflect the views of the Open Society Forum. For permission to photocopy or reprint any of this publication, please send a requst to the Open Society Forum. ISBN 978-99929-56-22-4 CONTENTS Executive Summ ary ............................................................................................. VII 1. Introduction’....,.....,..................,,»..,»,.,,...».,......»..........................»..,, i 2. Overview of Mongolia's Industry,,..,,,,.......,,,..,..».,..,.,»».,....,,...,»..»»»,,. 3 2.1. Restructuring for a market econom y........................................................... 3 2.2. Structure of the manufacturing sector.........................................................4 2.3. Recent developments......................................................................................6 3. Comparative Review of Mongolia's Industrial Performance,.,,..,»»...». 9 3.1. Mongolia and the benchmark countries........................................................9 3.2. Manufacturing performance.........................................................................11 MV A Analysis................................................................................................. 11 Structural changes in manufacturing......................................................... 12 3.3. Export performance ..................................................................................... 13 Performance in manufactured exports....................................................... 13 Technological structure of manufactured exports.................................... 14 Export concentration and diversification................................................... 17 3.4. Mongolia in the UNIDO scoreboard of industrial development............... 17 The new performance index........................................................................ 19 Benchmarking industrial performance.......................................................19 3.5. Structural factors in competitiveness: technology, skills andFD I........... 20 Analytical background.................................................................................. 20 Benchmarking technological capabilities................................................... 21 Foreign direct investment (FDI).................................................................. 30 3.6. Business environment.................................................................................. 34 3.7. Conclusions....................................................................................................35 4. M easuring Sectoral Com petitiveness ........................................................ 37 Analyzing market positioning......................................................................37 5. The C om petitiveness of the W ool & C ashm ere Sector,»»»»,.,,»..»»,.»».,» 47 Competitive position on global market.......................................................48 Global market trends....................................................................................48 Competitive positioning................................................................................53 Concluding remarks...................................................................................... 59 6. The Competitiveness of the Leather Sector.................. 81 Competitive position on global market.......................................................62 Global market trends....................................................................................62 Competitive positioning................................................................................63 Concluding remarks...................................................................................... 64 7. The Com petitiveness of the M eat Sector,»».,.»»»,»»».»»».,,,.»».»,»,,»,»,,».»,». 65 Competitive position on global market.......................................................66 Global market trends....................................................................................66 Competitive positioning................................................................................ 67 Concluding remarks...................................................................................... 67 Boxes ; Box 4.1 : Market positioning classification........................................................................................ 38 Figures ; Figure 3.1 : Gross enrollment ratio in tertiary education (% of relevant age group)................ 22 Figure 3.2 : Knowledge index - East Asia....................................................................................... 28 Figure 3.3 : Knowledge index - Landlocked economies ..... 29 Figure 3.17: The most problematic factors for doing business in Mongolia.............................. 34 Figure 4.1 : Mongolia's market positioning for manufactured exports (1996-2003) .............. 45 Figure 4.2 : Malaysia's market positioning for manufactured exports (1995-2004)............... 46 Figure 5.1 : World's SITC 268 export breakdown, 1995 and 2004............................................ 48 Figure 5.2 : Australia's SITC 268 export breakdown, 1995 and 2004 ..................................... 49 Figure 5.3 : New Zealand's SITC 268 export breakdown, 1995 and 2004............................... 49 Figure 5.4 : Argentina's SITC 268 export breakdown, 1995 and 2 0 0 4 ......................................49 Figure 5.5 : China's SITC 268 export breakdown, 1995 and 2004............................................ 50 Figure 5.6 : Mongolia's SITC 268 export breakdown, 1996 and 2003....................................... 50 Figure 5.7 : Trends in Wool & other animal hair (SITC 268) exports in the world.................... 51 Figure 5.8 : Trends in Sheep's or lamb's wool (SITC 2681/2682) exports in the w orld........ 51 Figure 5.9 : Trends in Fine animal hair, not carded or combed (SITC 2683) exports............... 52 Figure 5.10: Trends in Sheep's/lamb's wool/other animal hair (SITC 2687) exports............... 52 Figure 5.11: Competitive positioning of selected countries in the global market, The Wool & Other Animal Hair (SITC 268) secto r.................................................. 54 Figure 5.12: Competitive positioning of selected countries in the global market, The Sheep's or Lamb's Wool, Greasy (SITC 2681) sub-sector.............................. 55 Figure 5.13: Competitive positioning of selected countries in the global market, The Sheep's or Lamb's Wool, Degreased (SITC 2682) sub-sector........................56 Figure 5.14: Competitive positioning of selected countries in the global market, The Fine Animal Hair, Not Carded or Combed (SITC 2683) sub-sector............... 57 Figure 5.15: Competitive positioning of selected countries in the global market, The Sheep's/Lamb's/Other Animal Hair (SITC 2687) sub-sector......................... 58 Figure 6.1 : Trends in leather (SITC 811) exports in the w orld...................................................62 Figure 6.2 : Competitive positioning of selected countries in the global market, The leather (SITC 611) sector...................................................................................63 Figure 7.1 : Trends
Load more

Recommended publications
  • The Innovation Imperative for Developing East Asia
    The Innovation Imperative for Developing East Asia The Innovation Imperative for Developing East Asia The Innovation Imperative fter a half century of transformative economic progress that moved hundreds of millions of people out of poverty, countries in developing for Developing East Asia AEast Asia are facing an array of challenges to their future development. Slowed productivity growth, increased fragility of the global trading system, and rapid changes in technology are all threatening export-oriented, labor- intensive manufacturing—the region’s engine of growth. Significant global challenges—such as climate change and the COVID-19 pandemic—are exacerbating economic vulnerability. These developments raise questions about whether the region’s past model of development can continue to deliver rapid growth and poverty reduction. Against this background, The Innovation Imperative in Developing East Asia aims to deepen understanding of the role of innovation in future development. The report examines the state of innovation in the region and analyzes the main constraints that firms and countries face to innovating. It assesses current policies and institutions, and lays out an agenda for action to spur more innovation-led growth. A key finding of the report is that countries’ current innovation policies are not aligned with their capabilities and needs. Policies need to strengthen the capacity of firms to innovate and support technological diffusion rather than just invention. Xavier Cirera Policy makers also need to eliminate policy biases against innovation in services, Andrew D. Mason a sector that is growing in economic importance. Moreover, countries need to strengthen key complementary factors for innovation, including firms’ managerial Francesca de Nicola quality, workers’ skills, and finance for innovation.
    [Show full text]
  • The Four Asian Dragon's Significance in World Economic Development
    Bhatia Nikhil, Gupta Ishan, International Journal of Advance Research, Ideas and Innovations in Technology. ISSN: 2454-132X Impact factor: 4.295 (Volume 4, Issue 1) Available online at www.ijariit.com The Four Asian Dragon's Significance in World Economic Development Nikhil Bhatia Ishan Gupta [email protected] [email protected] Christ University, Bangalore, Karnataka Christ University, Bangalore, Karnataka ABSTRACT This paper analyses the contribution of four Asian Dragons towards International Economic System from 1965-2017 and reveals insight into related trends and patterns. The paper shows how four Asian dragons (Singapore, Taiwan, South Korea, and Hong Kong) have grown since Independence to Industrialisation. Lastly, reasons for their slowing growth. This study is divided into four parts. Firstly, the growth pattern of GDP and Exports in these countries. Secondly, factors leading to this growth. Thirdly, how Industrialisation of four dragons helped world economy during currency fluctuations and recession. Fourthly, reasons for declining growth of these nations. The study discusses the challenges facing four Dragon’s sharply declining growth rate and proposes policy approaches that might help boost the country’s growth in the future. Keywords: Asian Dragon, International Economic System, GDP. 1. INTRODUCTION Four Asian Dragons The countries that come under are Hong Kong, Singapore, South Korea and Taiwan, they had gone through rapid industrialisation and had high growth rate i.e. more than 7 percent a year between the 1960s and 1990s. By the 21st century, all the countries had developed into an advanced and high-income nation, industrialised and developed countries specialising in the areas of competitive advantage.
    [Show full text]
  • East Asia Wrestles with Questions of Trust and Democracy 98 106
    GLOBAL ASIA In Focus GLOBAL ASIA Vol. 10, No. 3, FALL 2015 98 106 112 Yun-han Chu, Yu-tzung Chang, Yun-han Chu, Hsin-hsin Pan Mark Weatherall Min-hua Huang & Wen-chin Wu & Jack Wu & Jie Lu Why authoritarian or Why are levels of Perceptions in non-democratic trust in political East Asia of China’s governments enjoy institutions in Asia’s rise and how this In Focus more popularity than democracies on will influence democratic states. the decline? US thinking. Asian Baromet er SurveyEast Asia Wrestles With Questions of Trust and Democracy 96 97 GLOBAL ASIA In Focus Asian Barometer Survey GLOBAL ASIA Vol. 10, No. 3, FALL 2015 1 Tabassum Zakaria, “US Intelligence Sees Asia’s Global Power Rising surveys from 2014 to 2016. By the end of July 2015, seven were Enter the Dragon: by 2030,” Reuters, Dec. 10, 2012: www.reuters.com/article/2012/12/10/ completed: Mongolia, Philippines, Thailand, Indonesia, Singapore, us-usa-intelligence-idUSBRE8B90HY20121210 [retrieved Aug. 13, 2015] Malaysia and Myanmar. The remaining six are Japan, Hong Kong, 2 Yan Xuetong. Ancient Chinese Thought, Modern Chinese Power. South Korea, China, Vietnam and Cambodia. Myanmar is the only Princeton, N.J.: Princeton University Press (2011). newly added country in wave four. See the previous three waves of How East Asians ABS data at the official website at www.asianbarometer.org/. 3 The Asian Barometer Survey’s fourth wave includes 14 country View a Rising China By Yun-han Chu, Min-hua Huang quickly emerged that called for China to prepare China has managed to become a responsible great power and argued & Jie Lu that its power competition with the US is inevita- to hold up its largely ble.2 However, those voices remained in the aca- positive image in the demic community and did not significantly affect eyes of East Asians.
    [Show full text]
  • How Do East and Southeast Asian Cities Differ from Western Cities? a Systematic Review of the Urban Form Characteristics
    sustainability Article How do East and Southeast Asian Cities Differ from Western Cities? A Systematic Review of the Urban Form Characteristics Tzu-Ling Chen 1,*, Hao-Wei Chiu 2,3 and Yu-Fang Lin 4 1 Department of Urban Development, University of Taipei, Taipei 11153, Taiwan 2 Department of Bioenvironmental Systems Engineering, National Taiwan University, Taipei 10617, Taiwan; [email protected] 3 Graduate Institute of Urban Planning, National Taipei University, New Taipei 23741, Taiwan 4 Department of Landscape Architecture, National Chiayi University, Chiayi 60004, Taiwan; v.yfl[email protected] * Correspondence: [email protected]; Tel.: +886-02-2871-8288 (ext. 3110) Received: 11 February 2020; Accepted: 17 March 2020; Published: 19 March 2020 Abstract: The Fifth Assessment Report released by the Intergovernmental Panel on Climate Change (IPCC AR5) revealed that the scale of greenhouse gas (GHG) emissions in Asian cities is similar to those from developed economies, which are driven predominantly by economic growth. Due to variations in geographic and climatic contexts, culture and religion, living style and travel behavior, governance and institutions, and a wide range of density and land use mixes, there are significant variations in urban form patterns across Western and Asian cities. This paper uses a systematic review, which is a critical interpretive synthesis methodology, to review keywords of studies related to urban form among East and Southeast Asian cities. From 3725 records identified through database searching, 213 studies were included in qualitative analysis. The results show that, although the population density in built-up areas is higher, annual population density is declining significantly in East and Southeast Asia.
    [Show full text]
  • Four Asian Tigers (Hong Kong, Singapore, Taiwan, South Korea)
    Four Asian Tigers (Hong Kong, Singapore, Taiwan, South Korea) Linda Phanová, Petr Havel Agenda • The global population • The global area • The global GDP • The global exports • The global imports • The global FDI • The global debt • The global CO2 production Case studies: • The Development of the Four Asian Tigers • The role of Education • Labour market rigidity Global population (2018) Hong Kong 7 524 100 Singapore 5 703 600 South Korea 51 811 167 Taiwan 23 603 121 The global area (km²) Hong Kong 1 106 Singapore 728 South Korea 100 210 Taiwan 36 197 The global GDP in $ (2020) Hong Kong 340 billion Singapore 340 billion South Korea 1,59 trilion Taiwan 660 billion The global exports in billions of $ (2017) Hong Kong 496,9 Singapore 372,9 South Korea 577,4 Taiwan 344,6 The global imports in billions of $ (2017) Hong Kong 558,6 Singapore 327,4 South Korea 457,5 Taiwan 272,6 The global foreign direct investment inflows in $ Hong Kong 68,4 billion (2019) Singapore 92 billion (2019) South Korea 10,5 billion (2019) Taiwan 8 billion (2019 The global debt in $ (2020) Hong Kong 1 002 million (2019) Singapore 458,13 billion (2020) South Korea 720,73 billion (2019) Taiwan 200 103 million (2019) The global CO2 production in tons (2016) Hong Kong 47 066 386 Singapore 48 381 759 South Korea 604 043 830 Taiwan 276 724 868 Development ● Affection of natural resources and geography for economic growth: ○ natural resource ○ proximity to the sea ○ people living in the coastal area ○ location in the tropics ● Demographic point of view: ○ Growth rate of the working age population ○ Life expectancy at birth Education ● Human capital= factor for measuring productivity of a country ○ more educated and skilled workforce = production of more output ● Primary school in 1965: ○ South Korea, Taiwan: basic level of education ○ Hong Kong: private schools with intervention of government ○ decrease of discrepancies in gender literacy rates Source: Excel, Barro and Lee Dataset Labour market rigidity ● Rises in labor market rigidity are negatively correlated with output and economic growth.
    [Show full text]
  • ADB Annual Report 2016
    50 YEARS OF ADB: IMPROVING LIVES FOR A BETTER FUTURE ASIAN DEVELOPMENT BANK 2016 ANNUAL REPORT CONTENTS CHAPTER 1 CHAPTER 2 CHAPTER 3 CHAPTER 4 8 16 36 42 2 PRESIDENT’S MESSAGE 4 BOARD OF DIRECTORS 6 FINANCIAL HIGHLIGHTS CHAPTER 1 8 Improving Lives for a Better Future CHAPTER 2 16 Central and West Asia 20 East Asia 24 Pacific 28 South Asia 32 Southeast Asia CHAPTER 3 36 Developing the Private Sector CHAPTER 4 42 Delivering an Effective Organization SPECIAL APPENDIX 49 Impact of the ADF–OCR Merger and ADB’s Financial Statements ANNUAL REPORT 2016 USB CONTENTS FINANCIAL REPORT OPERATIONAL DATA ORGANIZATIONAL INFORMATION ADB MEMBER FACT SHEETS Population . B 2015 We connected . B 3 million 1966 new households to electricity (2010–2016) GDP per capita A CHANGING , TOGETHER We provided 2015 REGION 8.4 million WE DELIVER households with Since ADB’s founding in 1966, Asia 1966 new and improved has transformed from the world’s Asia has changed a lot in the past water supplies poorest region to a dynamic center 50 years. So has ADB. We have (2010–2016) of global growth and home to more evolved to meet the changing than half the world’s people. demands of the region, to ensure Poverty (less than $1.90 a day) we continue to produce results that improve people’s lives. B 1990 We built and upgraded . B 92,000 2015 kilometers of roads (2010–2016) ASSISTANCE IN PRC’s Shanghai’s Pudong area A BANK FOR booms after the opening of ADVERSITY ADB-supported $267 million HALF THE In the midst of the 1997-1998 Shanghai Yangpu Bridge.
    [Show full text]
  • Chinese Primacy in East Asian History: Deconstructing the Tribute System in China’S Early Ming Dynasty
    The London School of Economics and Political Science Chinese Primacy in East Asian History: Deconstructing the Tribute System in China’s Early Ming Dynasty Feng ZHANG A thesis submitted to the Department of International Relations of the London School of Economics for the degree of Doctor of Philosophy, London, April 2009 1 UMI Number: U615686 All rights reserved INFORMATION TO ALL USERS The quality of this reproduction is dependent upon the quality of the copy submitted. In the unlikely event that the author did not send a complete manuscript and there are missing pages, these will be noted. Also, if material had to be removed, a note will indicate the deletion. Dissertation Publishing UMI U615686 Published by ProQuest LLC 2014. Copyright in the Dissertation held by the Author. Microform Edition © ProQuest LLC. All rights reserved. This work is protected against unauthorized copying under Title 17, United States Code. ProQuest LLC 789 East Eisenhower Parkway P.O. Box 1346 Ann Arbor, Ml 48106-1346 TrttSCS f <tu>3 Declaration I certify that the thesis I have presented for examination for the MPhil/PhD degree of the London School of Economics and Political Science is solely my own work other than where I have clearly indicated that it is the work of others (in which case the extent of any work carried out jointly by me and any other person is clearly identified in it). The copyright of this thesis rests with the author. Quotation from it is permitted, provided that full acknowledgement is made. This thesis may not be reproduced without the prior written consent of the author.
    [Show full text]
  • Viewed As Two of the World's Most Persuasive Money Related Center Points
    Dangayach Yash, Gupta Anmol, International Journal of Advance Research and Development. (Volume 3, Issue 1) Available online at www.ijarnd.com Four Asian Dragons – Evolution and Their Growth Yash Dangayach, Anmol Gupta 1,2Christ University, Bangalore, Karnataka ABSTRACT Over the most recent four decades Japan and the “four little dragons”- Taiwan, South Korea, Hong Kong and Singapore-which together constitute under four percent of the total populace, have progressed toward becoming with Europe and North America one of the three mainstays of the advanced mechanical world order. This isn't the primary push to endeavor to answer that inquiry, however it is clearly a standout amongst the most compact, lucid and entering. One of the country's driving researchers on East Asian issues, Vogel sees a few "situational factors"- U.S. help, the pulverization of the old request, a feeling of political desperation, an energetic and ample work supply and recognition with the Japanese model of accomplishment as one bunch of variables. In any case, achievement, Vogel says, additionally originated from a complex of institutional and social practices established in the Confucian custom however adjusted to the necessities of a cutting-edge society-"modern neo-Confucianism." This social bunch incorporates a meritocratic organization, the selection test framework, the significance of gathering cognizance and the objective of self-change. Keywords: Endeavor, Ample, Pulverization, Desperation, Confucian, Meritocratic, Cognizance. INTRODUCTION Hong Kong, Singapore, Taiwan, and South Korea – we know these nations to be among the most beneficial and gainful on the planet. In any case, it wasn't generally similar to that. The 'Four Asian Tigers' rose to unmistakable quality in the blast a long time of the 1960s by exploiting developing innovation and globalization, and they have clutched their position as financial pioneers from that point forward.
    [Show full text]
  • When China Rules the World
    When China Rules the World 803P_pre.indd i 5/5/09 16:50:52 803P_pre.indd ii 5/5/09 16:50:52 martin jacques When China Rules the World The Rise of the Middle Kingdom and the End of the Western World ALLEN LANE an imprint of penguin books 803P_pre.indd iii 5/5/09 16:50:52 ALLEN LANE Published by the Penguin Group Penguin Books Ltd, 80 Strand, London wc2r orl, England Penguin Group (USA) Inc., 375 Hudson Street, New York, New York 10014, USA Penguin Group (Canada), 90 Eglinton Avenue East, Suite 700, Toronto, Ontario, Canada m4p 2y3 (a division of Pearson Canada Inc.) Penguin Ireland, 25 St Stephen’s Green, Dublin 2, Ireland (a division of Penguin Books Ltd) Penguin Group (Australia), 250 Camberwell Road, Camberwell, Victoria 3124, Australia (a division of Pearson Australia Group Pty Ltd) Penguin Books India Pvt Ltd, 11 Community Centre, Panchsheel Park, New Delhi – 110 017, India Penguin Group (NZ), 67 Apollo Drive, North Shore 0632, New Zealand (a division of Pearson New Zealand Ltd) Penguin Books (South Africa) (Pty) Ltd, 24 Sturdee Avenue, Rosebank 2196, South Africa Penguin Books Ltd, Registered Offi ces: 80 Strand, London wc2r orl, England www.penguin.com First published 2009 1 Copyright © Martin Jacques, 2009 The moral right of the author has been asserted All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise) without the prior written permission of both the copyright owner and the above publisher of this book Typeset in 10.5/14pt Sabon by Palimpsest Book Production Limited, Grangemouth, Stirlingshire Printed in England by XXX ISBN: 978–0–713–99254–0 www.greenpenguin.co.uk Penguin Books is committed to a sustainable future for our business, our readers and our planet.
    [Show full text]
  • Traditional Knowledge in Taiwan: a Call for Greater Participation of Indigenous Peoples in the Global Intellectual Property Marketplace
    California Western School of Law CWSL Scholarly Commons Faculty Scholarship 2020 Traditional Knowledge in Taiwan: A Call for Greater Participation of Indigenous Peoples in the Global Intellectual Property Marketplace James M. Cooper Follow this and additional works at: https://scholarlycommons.law.cwsl.edu/fs Part of the Indigenous, Indian, and Aboriginal Law Commons, Intellectual Property Law Commons, and the International Law Commons VANDERBILT JOURNAL of TRANSNATIONAL LAW VOLUME 53 NOVEMBER 2020 NUMBERS Traditional Knowledge in Taiwan: A Call for Greater Participation of Indigenous Peoples in the Global Intellectual Property Marketplace James M. Cooper* ABSTRACT This Article explores the plight of the Aborigines of Taiwan and the legal protections that exist for their Traditional Knowledge. While Taiwan continues to face international isolation with a diminished number of states recognizing the Republic of China as the seat of China, the island's government has taken limited steps to recognize language, cultural, and economic rights of its Indigenous peoples. International law has not been helpful in protecting Traditional Knowledge, but Taiwan could use its vast economic resources and positive track record in protecting some of these rights to further its goals of international recognition. This Article details the current regulation of Traditional Knowledge, both internationally and within Taiwan, and calls for a new international treaty in which the Republic of China could take * The author is Associate Dean, Experiential Learning, Professor of Law, and Director of International Legal Studies at California Western School of Law in San Diego, United States. He has worked on Indigenous projects, sponsored in part by the William and Flora Hewlett Foundation, the Avery-Tsui Foundation, and the United Nations Educational, Scientific and Cultural Organization.
    [Show full text]
  • APEC's Economic Performance
    2 APEC’s Economic Performance Many APEC countries have experienced extraordinary economic growth in recent years. In fact, the emergence of the four Asian ‘‘tigers’’—Hong Kong, Singapore, South Korea, and Taiwan—together with the group of newly industrializing economies (NIEs)—including Indonesia, Malaysia, and Thailand—has been one of the defining features of international economic affairs in the last three decades. Although less heralded, APEC’s Latin American members have also been growing briskly and its devel- oped members in North America and Australasia have been the most vibrant of all the world’s developed economies. Understanding the dimen- sions and character of this economic ‘‘miracle’’ is essential to any effort to discern how the environment can be appropriately protected in the context of rapid growth and deepening economic integration.1 While the accomplishments of the APEC economies are undisputed, the source of the region’s success remains hotly contested. Many commen- tators argue that East Asia’s rapid economic growth is based primarily on the accumulation of factors of production: the expansion of employment, increases in education levels, and, most important, massive investment in physical capital (Krugman 1994; Kim and Lau 1994; A. Young 1994, 1995). Others argue that East Asia achieved superior growth because of improvements in technology and efficiency, measured as an increase in total factor productivity (TFP) (Swee and Low 1996; UBS 1996). The sources of the increase in TFP are the subject of a further dispute. Research- 1. While many other studies have focused on East Asia, Southeast Asia, or some other grouping of Asian economies, this chapter presents an APEC-aggregated analysis.
    [Show full text]
  • The East Asian Tigers Have Plenty to Roar About
    BY ROBERT J. BARRO THE EAST ASIAN TIGERS HAVE PLENTY TO ROAR ABOUT ntil last year, many East Asian coun- compared some Asian economic policies to tries were widely regarded as eco- the high-investment programs of Stalin’s So- U nomic miracles. The standouts included viet Union. This argument never made sense, the four Asian Tigers-Hong Kong, Singa- because the Soviet Union’s output was valued pore, South Korea, and Taiwan-where at artificial prices made up by government growth rates of real per capita gross domestic bureaucrats. When realistic prices were ap- product from 1960 to 1995 were around 6% plied in the post-communist ‘SOS, the mea- per year,Right behind were Indonesia, sured level of per capita output turned out to Malaysia, Thailand, and China. These perfor- be low. In contrast, for the Tigers, most out- mances placed this East Asian group at the put is valued at world market prices, and top of the world’s growth list. there is no reason to think that growth is The Asian reputation has suffered recently overstated. because of financial crises and recessions. SINGAPORE SWING. A recent study by Chang- These crises did highlight some policy short- Tai Hsieh published by the University of Cal- comings, such as unwise credit subsidies and ifornia at Berkeley challenges key parts of deficient regulation of financial markets. But Young’s conclusions on productivity growth. the negative reaction has been sharply over- The most dramatic revisions apply to Singa- done. In comparison with typical developing pore, where Hsieh notes that observed rates FLAWED: countries, government policies in most of the of return on investment have been roughly East Asian countries have been fiscally re- stable since the mid-1970s, not declining as sponsible, pro-market, and, hence, reasonable.
    [Show full text]