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Skilled Labor Mobility and Migration

Challenges and Opportunities for the ASEAN Economic Community

Edited by Elisabetta Gentile

One of the primary objectives of the ASEAN Economic Community (AEC), established in 2015, was to boost skilled labor mobility within the region. This insightful book takes stock of the existing trends and patterns of skilled labor migration in the ASEAN. It endeavors to identify the likely winners and losers from the free movement of natural persons within the region through counterfactual policy simulations. Finally, it discusses existing issues and obstacles through case studies, as well as other sectoral examples.
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Building a Normative Order in the South China Sea

Evolving Disputes, Expanding Options

Edited by Truong T. Tran, John B. Welfield and Thuy T. Le

The South China Sea, where a number of great powers and regional players contend for influence, has emerged as one of the most potentially explosive regions in the world today. What can be done to reduce the possibility of conflict, solve the outstanding territorial problems, and harness the potential of the sea to promote regional development, environmental sustainability and security? This book, with contributions from leading authorities in China, the Philippines, Vietnam, Australia, Singapore and the United States, seeks to illuminate these questions.
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Human Capital and Development

Lessons and Insights from Korea's Transformation

Ju-Ho Lee, Hyeok Jeong and Song Chang Hong

During recent decades, Korea has been one of only a handful of countries that have made the successful transformation to become a developed nation by simultaneously achieving persistent economic growth combined with a democratic political system. Experts and political leaders worldwide have attributed this achievement to investments in people or, in other words, the power of education. Whilst numerous books have highlighted the role of industrial policies, technological growth, and international trade in Korea’s development process, this is one of the first to focus on the role of human capital. It shows how the accumulation of human capital aided transformation and helps explain the policies, strategies and challenges that Korea faces now and in the future.
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Economic Stagnation in Japan

Exploring the Causes and Remedies of Japanization

Edited by Dongchul Cho, Takatoshi Ito and Andrew Mason

Japan’s dramatic transformation from economic success to economic stagnation offers important policy lessons to advanced countries everywhere that are struggling with stagnation. The term ‘Japanization’ is often used by economists to describe long-term stagnation and deflation. Symptoms include high unemployment, weak economic activity, interest rates near zero, quantitative easing, and population aging. In the global context, what can governments do to mitigate the downward trends experienced by Japan? This judiciously timed book investigates in depth the causes of Japan’s ‘lost decades’ versus the real recovery achieved by the United States, and the lessons that can be learned.
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Central and Local Government Relations in Asia

Achieving Fiscal Sustainability

Edited by Naoyuki Yoshino and Peter J. Morgan

Sustainable and inclusive growth in emerging Asian economies requires high levels of public investment in areas such as infrastructure, education, health, and social services. The increasing complexity and regional diversity of these investment needs, together with the trend of democratization, has led to fiscal decentralization being implemented in many Asian economies. This book takes stock of some major issues regarding fiscal decentralization, including expenditure and revenue assignments, transfer programs, and sustainability of local government finances, and develops important findings and policy recommendations.
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A General Theory of Economic Development

Towards a Capitalist Manifesto

Sung-Hee Jwa

This book makes the bold attempt at proposing a new general theory of economic development. The main premise is that economic institutions and policies must embody ‘economic discrimination’ if there is to be any chance of real economic development. By economic discrimination, the author means ‘treating differences differently’ by selecting and supporting economic entities and behaviour that contribute positively to the economy. The book identifies markets, government and corporations as the ‘holy trinity of economic development’, that is, the three most important institutions that must work together via economic discrimination to steer the economy towards real transformative progress. The book also warns against the current trend of economic egalitarianism or ‘not treating differences differently’ because it destroys economic incentives and results in an array of economic problems including growth stagnation.
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The Asian ‘Poverty Miracle’

Impressive Accomplishments or Incomplete Achievements?

Edited by Jacques Silber and Guanghua Wan

Following rapid economic growth in recent decades, Asia and the Pacific experienced an impressive reduction in extreme poverty, but this drop was not uniform and achievements are still incomplete. Vulnerability to natural disasters, the increasing impact of climate change and economic crises should all be taken into account. There is also a need to consider the multidimensional nature of poverty and the non-uniformity of the decrease across different ethnic groups. This book explores the Asian ‘poverty miracle’ and argues for the development and use of an Asia-specific poverty line.
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Economic Catch-up and Technological Leapfrogging

The Path to Development and Macroeconomic Stability in Korea

Keun Lee

This book elaborates upon the dynamic changes to Korean firms and the economy from the perspective of catch-up theory. The central premise of the book is that a latecomer’s sustained catch-up is not possible by simply following the path of the forerunners but by creating a new path or ‘leapfrogging’. In this sense, the idea of catch-up distinguishes itself from traditional views that focus on the role of the market or the state in development.
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Understanding China's Urbanization

The Great Demographic, Spatial, Economic, and Social Transformation

Li Zhang, Richard LeGates and Min Zhao

China’s urbanization is one of the great earth-changing phenomena of recent times. The way in which China continues to urbanize will have a critical impact on the world economy, global climate change, international relations and a host of other critical issues. Understanding and responding to China’s urbanization is of paramount importance to everyone. This book represents a unique exploration of the demographic, spatial, economic and social aspects of China’s urban transformation.
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Challenging Neoliberalism

Globalization and the Economic Miracles in Chile and Taiwan

Cal Clark and Evelyn A. Clark

Neoliberalism, which advocates free markets without government interference, has become increasingly utilized and controversial over the last three and a half decades. This book presents case studies of Chile and Taiwan, two countries that seemingly prospered from adopting neoliberal strategies, and finds that their developmental histories challenge neoliberalism in fundamental ways.