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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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Perspectives on the policy reform process

The study has attempted to identify the more salient elements arising from the evolving trends in macroeconomic policy management for greater efficiency, flexibility and competitiveness among the developing economies of the ESCAP region over the past two decades or so. One of the most general impressions that has emerged is that, while there is a discernible shift towards further economic liberalization and deregulation, there are no predetermined paths and/or ready answers to a host of strategic and highly complex issues associated with the management of sustainable growth and restructuring. The precise contours of such a path have to be charted on the basis of location-specific potential and problems facing each country and as manifested in its initial economic, political and socio-cultural circumstances and institutions. In this context, the design and implemen-tation of policy adjustments and reforms arc more like composite art with differing nuances than an exact science with precise and uniform prescriptions.

English

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