The asian economy : contemporary issues and challenges / edited by Kenta Goto & Tamaki Endo & Asei Ito.

Format:

Book

Contributor:

Gotō, Kenta, 1969- editor.

Endō, Tamaki, 1975-

Itō, Asei, 1984-

Language:

English

Subjects (All):

Economics.

Physical Description:

1 online resource (291 pages) : illustrations

Edition:

1st ed.

Place of Publication:

London, England : Taylor & Francis Group, 2020.

Summary:

The book is a key reading which provides a comprehensive and systematic overview of the contemporary Asian economy. The book focuses on the structural changes that are rapidly transforming the regional economic landscape in the 21st century. It highlights the concomitant challenges that have arisen, and further discusses prospects and potentialities of Asian economies given this new economic environment. The book also looks at broader social issues that are both the cause and result of these new and complex economic dynamism in Asia. Understanding the Asian economy cannot be achieved without understanding the new interrelationships and complexities that have evolved from this context, which continue to be driven by drastic changes in technological, demographic, and social structures, among others. Each of the chapters are titled based on "issues" and are framed in present continuous tense, intended to capture and emphasize the progressiveness of this new dynamism that are transforming the region in a fundamental way.

Contents:

Cover

Half Title

Title Page

Copyright Page

Table of Contents

Map of Asia

Book Structure Chart

Preface and Acknowledgements

List of Contributors

List of Figures

List of Tables

Introduction: The Asian Economy in the Asian Century

Introduction

I.1 Key Characteristics of the Asian Economy

I.2 Key Features of This Book

I.3 the Structure of the Book

Part I: New Dimensions of the Asian Economy

1 Transforming Asia: How the Asian Economy Has Been Discussed

1.1 From Stagnation to Development

1.1.1 The Post-War Reconstruction of Japan and Asia

1.1.2 Underdevelopment and Stagnation in Asia

1.1.3 The Emergence of A "Growing Asia"

1.2 From the "East Asian Miracle" To the Asian Financial Crisis

1.2.1 The Success Story of East Asia

1.2.2 The Asian Financial Crisis and the Neoclassical Era

1.3 The Rise of China, And Towards an "Emerging Asia"

1.3.1 China, Production Networks, and Regional Economic Integration

1.3.2 Risks and Opportunities in Middle-Income Asia

Conclusion

Box 1 Reviewing the Asian Economy from a Historical Perspective

2 Asianizing Asia: The Rise of Intra-Regional Trade and Economic Integration

Introduction: What is "Asianizing Asia"?

2.1 Breaking Away from Economic Dependency

2.1.1 Evolving Asia in Global Trade

2.1.2 The Rise of Asian NIEs

2.1.3 The Plaza Accord and the Asian Miracle

2.2 De-Facto Economic Integration and Global Value Chains

2.2.1 The Financial Crisis and China's Accession to the WTO

2.2.2 China, Regional Division of Labor in Production, And Horizontal Trade

2.2.3 The Deepening of the Vertical International Division of Labor

2.2.4 Asia as a Major Regional Market

2.3 De-Jure Economic Integration, Opportunities, and Challenges

2.3.1 The Centrality of ASEAN in Asian Regional FTAs.

2.3.2 Changes in the Trade Policies of Japan, China, and Korea

2.3.3 Diversified Economic Relationships and Challenges for Future Growth

Box 2 Trade-Related Databases

3 China Reshaping Asia: Economic Transition and the Rise of an Economic Superpower

3.1 Reform and Opening-Up Policy, and China's Economic Development: Asia Changing China

3.1.1 Characteristics and Limitations of the Planned Economy

3.1.2 Economic Transition toward a Market Economy

3.1.3 Opening-Up Policy

3.2 China as The Workshop of the World: China's Integration into the Asian Economy

3.2.1 The Asian Production Network and China as the Assembly Factory

3.2.2 Industrial Development Based on the Domestic Market

3.2.3 The "Lewis Turning Point" Argument

3.3 China as an Economic Superpower: China Changing Asia

3.3.1 China in the Asian and Global Economy

3.3.2 State Capitalism and Mass Capitalism in China

3.3.3 Quality of Growth and the Challenge of "Getting Old before Getting Rich"

Box 3 the Belt and Road Initiative (BRI)

Part II: Borderless Asia

4 Factory Asia: Global Value Chains and Local Firm Development

4.1 Industrialization in Asia and the Shifting Engines of Growth of the Global Economy

4.1.1 The Era of International Trade: To the 1970s

4.1.2 The Era of Foreign Direct Investment and Diffusion of Industrialization: From the 1980s

4.1.3 The Era of Global Production Networks: From the 2000s

4.2 The Global Value Chains Perspective

4.3 Local Industries and Firms in GVCs

4.3.1 The Vietnamese Apparel Industry: Integration into GVCs and Upgrading

4.3.2 The Taiwanese Notebook PC Industry: Upgrading By Subcontracting

4.3.3 The Implications from the GVC Framework

Box 4 GVCs and Corporate Social Responsibility.

5 Capital Asia: Growth and Capital Flows

5.1 International Capital Flows

5.1.1 Capital and Growth

5.1.2 Capital Flows and the Balance of Payments

5.1.3 Post-War Monetary and Financial Order and Capital Mobility

5.2 The Asian Economy and Capital: From the Asian Financial Crisis to the 21st Century

5.2.1 The Asian Financial Crisis

5.2.2 Structural Change in the 2000s

5.2.3 The Drastic Change in the Global Capital and Financial Environment and Asia

5.2.4 New Challenges

5.3 Policy Challenges for Asia and Its Financial Sector

5.3.1 Financial System Reform after the Asian Financial Crisis

5.3.2 Asian Financial Cooperation: Asian Monetary Cooperation and Bond Market Development

Box 5 Emerging Issues in the Micro-Organizational Finance Systems and the Asian Economy

6 Migrating Asia: Labor Mobility in an Interdependent and Connected World

6.1 Background and Framework

6.1.1 Trends in International Migration in Asia

6.1.2 Demand and Supply of Foreign Labor in Asia

6.1.3 Theoretical Framework: The Benefit Sand Costs of Migration

6.2 Stylized Facts on International Migration in Asia

6.2.1 An Overview in the Trends of Foreign Population in Asia

6.2.2 The Roles of Distance and Income Disparity in Migration in Asia

6.2.3 Changes in Labor Demand: The Feminization of International Migration

6.3 The Roles of Policy and Institutional Change

6.3.1 Demand-Driven Status-Quo Policy: The Case of Thailand

6.3.2 Government as an Intermediary: The Case of South Korea

6.3.3 Free Movement of High-Skilled Workers: The Case of ASEAN

Box 6 Brain Circulation and Asian Entrepreneurs in Silicon Valley

Part III: Dynamic Asia

7 Innovating Asia: Growth Pattern Changes in Post-Middle-Income Economies

Introduction.

7.1 The Success of "Catching-Up" and the "Middle-Income Trap"

7.1.1 Asian NIEs and Catch-Up Industrialization

7.1.2 Growth Accounting Approach

7.1.3 Can Asia Sustain Its Growth?

7.2 Innovation and Sources of Growth

7.2.1 Human Capital and Research and Development (R&amp

D)

7.2.2 Investments in IT Capital and Digitalization

7.2.3 Industrial Clusters and Networks

7.3 Innovation Policies in Asia

7.3.1 Theoretical Foundations of Innovation Policy

7.3.2 China: "Made In China 2025" And the US-China Trade Dispute

7.3.3 Thailand: From "Thailand-Ness" To Promoting Emerging Industries?

Box 7 Unicorns in Asia

8 Urbanizing Asia: Cities Transforming Into Mega-Regions

8.1 The Evolution of Cities from "Over-Urbanization" To Production Centers

8.1.1 Urbanization Trends In Asia

8.1.2 The Focus on Over-Urbanization and Primate Cities

8.1.3 Policies to Address Asian Over-Urbanization

8.1.4 Industrialization and Cities As Production Centers

8.2 Asian Urbanization in the Globalization Era: Nodes in Global Value Chains

8.2.1 Mega-Cities' Function as Global Cities

8.2.2 Industrial Clusters and Mega-Cities as Nodes in Global Value Chains

8.2.3 Urbanization in Asia and the Evolving Mega-Regions

8.3 Challenges and Prospects for Asian Cities

8.3.1 Mega-Regions and Inter-Regional Inequalities

8.3.2 The Challenges of Asian Mega-Cities

8.3.3 The Socio-Political Risks and Policy Dilemmas in the Era of the Mega-Regions

Box 8 Consuming Asia

9 Informalizing Asia: The Other Dynamics of the Asian Economy

9.1 The Informal Economy and Its Theoretical Perspectives

9.1.1 What is the Informal Economy?

9.1.2 The Birth of the Concept, And the Shift in Views from Negative to Positive

9.1.3 Beyond the Dichotomy View.

9.2 The Informal Economy in Asia and Its Roles in the 21st Century

9.2.1 Redefining the Informal Economy under Globalization

9.2.2 The Informal Economy in Asia: Its Size and Trends

9.2.3 Globalization, Urbanization, and the Dynamism of the Informal Economy

9.2.4 The Roles and Functions of the Informal Economy

9.3 The Future Outlook for the Informal Economy and Its Dilemmas

9.3.1 Informality and Institutions: Taxes, Risks, and Social Protection

9.3.2 The New Dynamics in the 21st Century (1) - The Internationalization of the Informal Economy

9.3.3 The New Dynamics in the 21st Century (2) - From Formal to Informal

Box 9 Informal Residential Areas: The Functions Of "Slum" Communities from the Urban Lower-Class Perspective

Part IV: Asia at a Crossroads

10 Ageing Asia: From Demographic Dividend to Demographic Tax

10.1 Population Growth and Economic Growth

10.1.1 Rapid Population Growth

10.1.2 The Poverty Trap and Birth Control Policies

10.1.3 Declining Birth Rates in Asia

10.2 Demographic Dividend and Demographic Tax

10.2.1 What is a Demographic Dividend?

10.2.2 The Effects of the Demographic Dividend

10.2.3 Economic Policies That are Consistent With the Demographic Transition

10.2.4 From Demographic Dividend to Demographic Tax

10.3 Ageing and Social Security

10.3.1 The Rapid Increase of the Ageing Rate

10.3.2 The Current Status of Social Security Policies in Asia

10.3.3 The Agendas of Promoting Social Security Policies in Asia

Box 10 Who Are The "Elderly People"?

11 Unequalizing Asia: From Poverty to Inequality

11.1 From Poverty to Inequality

11.1.1 "The East Asian Miracle" And Poverty Reduction in Asia Up To the Early 1990s

11.1.2 Rising Inequality in Asia

11.1.3 The Kuznets Hypothesis and Asia.

11.2 Background and Causes of Increased Income Inequality: Cases from Asian Countries.

Notes:

Includes index.

Description based on print version record.

ISBN:

0-429-26116-0

0-429-52328-9

9780429261169

OCLC:

1145911168