Economic and Social Survey of Asia and the Pacific 2013

Forward-Looking Macroeconomic Policies for Inclusive and Sustainable Development

image of Economic and Social Survey of Asia and the Pacific 2013
This document provides a review of the region’s performance in 2012 and its outlook in 2013, as it recovers from the global economic crisis and assesses the region’s policy response to remaining and emerging vulnerabilities. Areas of economic and social policy analysed include growth, inflation, trade and investment, financial markets, employment, migration and remittances. Key challenges ahead are addressed and policy responses recommended for countries in order to sustain their development. The document also addresses a thematic issue, discussing the current approach of macroeconomic policy making and critically assessing whether it has served development adequately.



Investing in inclusive and sustainable development

Fostering inclusive and sustainable development will require greater and sustained development-oriented investment. This chapter provides illustrative estimates of the investment and expenditure requirements of 10 countries in the Asia-Pacific region to sustain development- oriented public investments in six key areas: (i) employment for all; (ii) income security for the elderly; (iii) income security for persons with disabilities; (iv) health for all; (v) education for all; and (vi) energy access for all. The analysis finds that most countries can finance such a package without jeopardizing macroeconomic stability, although least developed countries would find it challenging to raise the required resources domestically.


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