- Consulting Editors
- List of Contributors
- The History of Biological Exploitation on the Pacific Rim
- Climate Risk and Response in the Pacific Rim
- Natural Disasters and Economic Policy for the Pacific Rim
- International Labor Migration in the Pacific Rim
- Age Compositional Shifts and Changing Intergenerational Transfers in Selected Asian Countries
- Human Capital Trends in the Pacific Rim
- Economic Growth and Performance on the Pacific Rim
- The New Structural Economics and Strategies for Sustained Economic Development in the Pacific Island Countries
- The Evolution of Fiscal Developments and Policies in the Pacific Rim
- Asia in Global Economic Governance
- Geoeconomics Versus Geopolitics: Implications for Asia
- The Political Economy of Asia-Pacific Trade Agreements
- Global Production Sharing and Trade Patterns in East Asia
- Foreign Trade of the Pacific-Rim Economies
- Are the Geese Still Flying? Catch-Up Industrialization in a Changing International Economic Environment
- Multinational Enterprises, Foreign Direct Investment, and the East Asian Economic Integration
- The Impact of Industrial Policy on Asian Growth: An Example From Taiwan
- Creative Industries: Socio-Economic Transformation as the New Face of Innovation
- The Road to Innovation in East Asia
- Asian Financial Crises
- The “Impossible Trinity,” The International Monetary Framework, and the Pacific Rim
- Rethinking Capital Account Liberalization
- Asian Currencies in the Global Imbalance and Global Financial Crisis
- Rebalancing of the World Economy and Asia
- China’s Financial Openness and Asset Return Linkages in East Asia
- The Offshore RMB Market in Hong Kong and RMB Internationalization
- Author Index
- Subject Index
Abstract and Keywords
This chapter explores the key dimensions of economic growth in the Pacific Rim over the past half century, focusing on 24 countries that encompass the region’s large population centers and have reasonably complete national accounts. It compares the economic growth and performance and suggests that while high-income economies have reasonably similar living standards, the differences within emerging Pacific Asia are very large and have not narrowed appreciably over time. This article highlights the major differences between the Asian and the Latin American side of the Pacific Rim in terms of global economic engagement and macroeconomic stability.
Barry Bosworth is Senior Fellow of Economic Research at the Brookings Institution.
Susan Collins is Joan and Sanford Weill Dean of Public Policy at the Gerald R. Ford School of Public Policy and Professor of Economics in the College of Literature, Science, and the Arts at the University of Michigan, as well as Senior Fellow of Economic Research at the Brookings Institution.
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