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Economic and Social Survey of Asia and the Pacific 1991

Continued Resilience of the ESCAP Region Despite World Economic Slow-Down - Challenges of Macroeconomic Management and Evolving Policy Reforms

image of Economic and Social Survey of Asia and the Pacific 1991

The annual Survey provides an extensive annual review of current economic and social trends within the Asian region and analyzes these developments against the background of events in the world economy. This publication is invaluable to every multinational corporation intending to expand their business in Asia or to invest in the region.

English

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Management of external sector policy

The development experience of the last few decades has shown that the policy regime on foreign trade and capital flows is a key component behind the current patterns of economic growth and structural transformation. Perhaps nowhere else has the nexus among trade, industrialization and technological developments been as well established as among the developing economics of the ESCAP region. Notwithstanding the evident diversity of impulses and imperatives for change among various economies, there are three discernible phases of trade and commer-cial policy adjustments and reforms, with the years covering the first and second oil price shocks of 1973/74 and 1979/80 as die intervening period, These timespans will provide the three approximate benchmarks in the following discussion of the nature and extent of evolving policy changes.

English

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