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Riding the wave : an East Asian miracle for the 21st century (English)

Developing East Asia has led the way in showing how rapid and broadly shared growth can lift millions out of poverty. And, as this report shows, the region has achieved even more: the wave of prosperity across the region since the 1980s has lifted 3 out of 5 of its citizens into economic security, where their risk of falling into poverty is minimal. Alongside this, a solid middle class has emerged in most countries. But these successes do not guarantee that inclusive growth--growth that reduces poverty and delivers upward mobility and economic security for all--is assured. The region has become more diverse, with progress varying across countries and extreme poverty increasingly concentrated among specific groups. Roughly a fifth of the region's population still remains at risk of falling into poverty and prospects for upward mobility are seen as 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.


  • Author

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

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    East Asia and Pacific,

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    East Asia and Pacific,

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    Riding the wave : an East Asian miracle for the 21st century

  • Keywords

    Poverty and Equity;middle class;inclusive growth;access to basic service;small and medium enterprise;Growth Elasticity of Poverty;legal and regulatory framework;economic security;extreme poverty;purchasing power parity;lack of service;gap in access;quality of job;high-quality public service;efficient land use;Early Childhood Development;distribution of consumption;voice over ip;cash transfer program;early warning system;impact of shock;social assistance program;taxation of labor;Access to Electricity;wireless local loop;social protection program;social protection system;exposure to risk;rapid urban growth;increase in income;traditional support network;privileges and immunity;Early childhood education;protection can;access to sanitation;social assistance system;disparities in access;private health care;labor force participation;access of migrants;foreign direct investment;vulnerability to shock;upward mobility;Economic Mobility;population distribution;transition matrix;social contract;social insurance;statistical appendix;Ethnic Minorities;systemic shocks;financial inclusion;nonmonetary poverty;Public Services;moderate poverty;Learning and Innovation Credit;clean water;demographic dividend;regulatory barrier;Population Aging;human capital;panel data;policy priority;population group;remote location;Higher Education;analytical approach;tax obstacles;capital income;preferential treatment;tax rate;safety regulation;income ladder;regulated sectors;medium-size enterprise;identity documents;Basic Education;reducing barriers;private service;pension system;property right;housing quality;pit latrine;flush toilet;piped water;urban one;rural connectivity;Urban Infrastructure;Property tax;noncommunicable diseases;labor mobility;legal barrier;cultural barrier;Labor Market;agricultural productivity;productive asset;rural area;equitable manner;asset base;physical barrier;public revenue;older worker;Financial Stability;food safety;productive sector;lifelong learning;social registries;improving information;targeting mechanism;coastal area;policy tool;managing risk;remote area;working age;natural disaster;natural shock;living standard;consumption increase;commercial purpose;original work;sole responsibility;copyright owner;labor-intensive growth;redistributive policy;income gain;reduced poverty;measure of use;program coverage;demographic trend;income poverty;national university;poverty datum;state council;standard deviation;downward mobility;adverse shock;economic shock;target system;fair competition;global environment;joint product;shared growth;inequality trend;behavioral economics;national household;public resource;Urban Governance;socioeconomic indicator;incidence curve;absolute consumption;income share;poverty projection;private education;rural saving;household survey;internationally comparable;poverty estimate;present analysis;global knowledge;policy formulation;Gender Equality;personal income;tax revenue;improved water;socioeconomic progress;progressive taxation;remote region;Health Service;social program;richer countries;public expenditure;industrialized economy;national policy;vulnerable class;job market;domestic labor;insecure property;mountainous area;environmental sustainability;administrative barrier;tie in;resource mobilization;quality of house;poor health;global context;



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

Riding the wave : an East Asian miracle for the 21st century (English). World Bank East Asia and Pacific Regional Report Washington, D.C. : World Bank Group.