Economic and Social Survey of Asia and the Pacific 1982

image of Economic and Social Survey of Asia and the Pacific 1982

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.



Fiscal policy for growth

As distinguished from economic development which additionally encompasses progressive change in the patterns of production distribution and consumption economic growth can be conceived of as sustained increase in per capita output. Even in this restricted sense, the growth process is complex involving the interaction of a multitude of economic, social, political and administrative social, political and administrative factors. Any effort to assess the contribution of a particular policy variable to economic growth is further complicated by the fact that the observed differences in growth rates across countries or over time are the end result of the simultaneous operation of a vast array of economic policies relating to such key issues as the determinstion of sectoral priorities, the reliance placed on international trade, the composition of domestic and foreign capital flows, the structure of the labour markets, and the scope given to monetary and fiscal management.


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