Institutions for Economic Reform in Asia

Institutions for Economic Reform in Asia

Institutions for Economic Reform in Asia

Institutions for Economic Reform in Asia

Synopsis

In the same way that no economy starts out with the best set of economic policies, no economy starts out with the best institutions to support the policy-making process. Instead, they inherit institutions that reflect their own unique culture and history. The task of structural reform has to be addressed, therefore, in the context of domestic economic and political institutions and processes.

Examining the nature of structural economic reform and the institutional circumstances in which it succeeds or is inhibited, this volume is less about the content of structural reform and more about how to get there. The chapters develop principles governing the types of institutions that are likely to assist the structural reform process, and then examine the application of those principles within a number of case studies. Finally, the volume presents some ideas about how regional cooperation could help to build and support those institutions that in turn support domestic structural reforms.

Consisting of theoretical chapters and country specific case studies, this book draws on experience with structural reform across a range of Asian economies at different stages of economic development. As such it will be of interest to students and scholars of Asian Economics and Development Economics.

Excerpt

This volume is less about the content of structural reform and more about how to get there. It develops some principles governing the types of institutions that are likely to assist the structural reform process, and then examines the application of those principles within a number of country case studies. Finally, the volume presents some ideas about how regional cooperation could help to build and support those institutions that in turn support domestic structural reforms.

The volume is the result of a twelve-month project organized by the East Asian Bureau of Economic Research, located in the Crawford School of Economics and Government at the Australian National University. the project was funded by AusAID, the Australian Government’s aid organization, though its Public Sector Linkages Program, with the support of the following institutions: the Centre for Strategic and International Studies, Jakarta; the Singapore Centre for Applied Policy and Economics at the National University of Singapore; the Malaysian Institute of Economic Research, Kuala Lumpur; the Fiscal Policy Research Institute, Bangkok; the Central Institute for Economic Management, Hanoi; the Philippines Institute for Development Studies, Manila; the Economic and Social Research Institute, Cabinet Office, Tokyo; the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, Beijing; the Korean Institute of International Economic Policy, Seoul; and the Australian Productivity Commission, Canberra. Both the project and the volume owe their existence to the drive, energy, and phenomenal network of contacts of Professor Peter Drysdale, initiator of the East Asian Bureau of Economic Research.

I would like to thank all the attendees of the various conferences around the region in which this material was workshopped. Their insightful input has helped hone the messages significantly. Thanks are due also to Shiro Armstrong and Aaron Batten for their input into the organization of the conference and workshop programme.

Finally, I would like to thank the authors of the case studies for their enthusiasm for the project, and for the work that they have put into their chapters. the results tell a rich story about how to progress a structural reform agenda, and remain relevant even in economic circumstances that have changed significantly since the project was completed.

Philippa Dee June 2009 . . .

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