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China's Changing Trade and the Implications for the CLMV
China’s trade patterns are evolving. While it started in light manufacturing and the assembly of more sophisticated products as part of global supply chains, China is now moving up the value chain, “onshoring” the production of higher-value-added upstream products and moving into more sophisticated downstream products as well. At the same time, with its wages rising, it has started to exit some lower-end, more labor-intensive sectors. These changes are taking place in the broader context of China’s rebalancing—away from exports and toward domestic demand, and within the latter, away from investment and toward consumption—and as a consequence, demand for some commodity imports is ...
Mongolia
This 2017 Article IV Consultation highlights Mongolia’s promising longer-term prospects given its abundant natural resources. In recent years, however, the economy has faced substantial challenges, as external shocks and expansionary fiscal and monetary policies have compounded structural weaknesses. Mongolia remains heavily exposed to external shocks, given its export profile, and a key challenge will be to avoid the boom-bust cycles of the past. The discussions with authorities have focused on improving the fiscal framework and strengthening policy discipline, complemented by structural reforms to boost diversification and competitiveness and by efforts to strengthen and better target the social safety net.
Republic of Fiji
This 2011 Article IV Consultation reports that Fiji’s economic outlook appears stable, but there are downside risks related to the political situation, structural weaknesses, and the global environment. The 2012 budget has proposed much-needed fiscal consolidation, though marginal income tax rate reductions will make it difficult to achieve deficit targets. Monetary policy is accommodative, given the currently benign inflation outlook, but continued vigilance against future inflationary pressure is critical, and credit growth targets should be avoided.
Sri Lanka
The paper discusses the economic developments and policies in Sri Lanka in recent years. Substantial adjustments in energy prices and operational and financial reforms have helped to improve the performance of state owned enterprises (SOEs) and have reduced the burden on the budget and the banking system. Despite challenging global and domestic market conditions, overall soundness of the financial sector has improved with higher levels of capital, liquidity, and healthy earnings. The Sri Lankan economy is expected to return to a high growth trajectory, though conditional on recovery in external demand.
A Tale of Tier 3 Cities
This paper provides new estimates of the housing stock, construction rates and price developments by city tier in China in order to understand where imbalances might be concentrated, and the implications of any significant contraction. We also update estimates of the size of China’s rapidly evolving real estate sector through 2021, allowing one to look at the initial impact of COVID-19, as well as extending the analysis to incorporate urban-expansion related infrastructure construction. We argue that China overall faces imbalances between supply and demand for housing stock, but the problem is significantly deeper outside tier 1 cities.
AlterOrganic: Local Agendas for Organic Agriculture in Rural Development
Millions of farmers throughout the world cannot or will not accept the "Green Revolution" approach to agriculture. What can the principles of Organic Agriculture - with or without certification - contribute to rural development in the tropics and subtropics? The question was central to an international workshop held in Bonn in October 2002, organised by the German non-governmental organisation AGRECOL. AGRECOL is a non-profit association and supports ecologically sound land use in Africa, Asia, Latin America, Eastern Europe and the former Soviet Union. The members of AGRECOL have strong professional links to development cooperation. They work with government agencies and NGOs, in education and research, or as consultants.
Social Spending for Inclusive Growth in the Middle East and Central Asia
This paper examines the role of social spending in improving socioeconomic outcomes in the Middle East and Central Asia. In particular, it addresses the following questions: (1) how large is social spending across the region? (2) how do countries in the region fare on socioeconomic outcomes? (3) how important is social spending as a determinant of these outcomes? and (4) how efficient is social spending in the region?
Regional Economic Outlook, April 2016, Asia and Pacific
Although Asia remains a growth leader in the global economy, growth is expected to ease slightly to 5.5 percent during 2016, with countries affected to varying degrees by a still weak global recovery, slowing global trade, and the short-term impact of China’s growth transition. Structural reforms are needed if Asia is to maintain its position in the global economy, including reforms aimed at enhancing productive capacity. Needed reforms range from state-owned enterprise and financial sector reform in China to labor and product market reforms in Japan and reforms to remove supply bottlenecks in India, ASEAN, frontier economies, and small states.
60th Anniversary Commemorative Volume of the Central Bank of Sri Lanka, 1950-2010
Contributed articles.
