Globalisation and the Asia–Pacific Revival
Published: June 2004
This paper reviews evidence on the evolution of international economic
integration of Asia–Pacific countries, and discusses the extent to which this
explains their recent growth success. It starts with a review of some theoretical
arguments in the growth and globalisation debate, which is followed by a
presentation of facts about Asia–Pacific international economic integration and
growth relative to other regions of the world. The causes of the growth
acceleration in the Asia–Pacific region are then discussed, with reflections on the
relationships between policy reforms, openness, and per capita income growth.
Finally, some tentative conclusions are drawn about future growth in the region.