Riding the Wave

An East Asian Miracle for the 21st Century

Caterina Ruggeri Laderchi, Nikola Spatafora, Sudhir Shetty, Salman Zaidi

• Publisher: World Bank Publications
• Year: 2017
• eBook ISBN: 9781464811760
• Edition: 0
• Topic: Economics
• Subtopic: Development Economics
• Index: Economics

Developing East Asia and Pacific has led the way in showing how rapid and broadly shared growth can lift millions out of poverty. As this book shows, the region has achieved even more: the wave of prosperity across the region since the 1980s has lifted three out of five of its citizens into economic security, where their risk of falling into poverty is minimal. And a solid middle class has emerged in most countries. These successes, however, do not guarantee that inclusive growth--growth that reduces poverty and delivers upward mobility and economic security for all—is ensured. The region has become more diverse, with progress varying across countries and extreme poverty increasingly concentrated among specific groups. Roughly one-fifth of the region's population remains at risk of falling into poverty, and prospects for upward mobility are increasingly elusive across the income distribution, reflecting a growing concentration of income and wealth and limited access to basic social services. Challenges old and new, including rapid aging and less certain growth prospects, are also increasing the premium on economic security for all. Riding the Wave is about how countries across the region can effectively confront these challenges and achieve inclusive growth.

Table of contents

• Front Cover
• Title Page
• Copyright Page
• Contents
• Foreword
• Acknowledgments
• Abbreviations
• Overview
• Introduction
• 1 The Building Blocks of East Asia’s Economic Miracle
• 2 Ready for the Challenges of the 21st Century?
• 3 Looking beyond the Poverty Line: Economic Class in Developing East Asia and Pacific
• 4 Economic Class and the Challenges of Inclusive Growth
• 5 A Policy Agenda for Inclusive Growth
• A Statistical Appendix: Poverty data availability for developing East Asia and Pacific
• B Statistical Appendix: Methodology for the estimation of internationally comparable poverty estimates for East Asia
• C Statistical Appendix: Supplementary tables
• D Statistical Appendix: A profile of economic class in developing East Asia and Pacific
• Boxes
• Back Cover