Economic and Social Survey of Asia and the Far East 1948

image of Economic and Social Survey of Asia and the Far East 1948

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.




The modern banking systems of many countries of the region are as yet in early stages of development. They are dominated by commercial banks, and specialization of functions has not gone very far. Agricultural credit institutions, such as co-operative societies, occupy a comparatively unimportant position, and the credit facilities provided by them are not adequate. This is significant in view of the predominantly agricultural character of the economy of the region. Special institutions for industrial finance are practically non-existent, although in some countries they are springing up under government auspices. The region has to depend to a great extent on the services supplied by foreign banks.


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