京都大学 大学院経済学研究科・経済学部

タイトル：
“Asia’s Structural Transformation: The Past and Prospects” coauthored with Natasha Che, Federico Diez, Rahul Giri, Tristan Hennig, and Weining Xin

Abstract:
The Asia and Pacific region has enjoyed rapid economic and human development gains in the past three decades. Though it has benefited from demographic tailwinds, investment and productivity growth are the key to these gains. The critical role of structural transformation, that is, workers moving out of agriculture into other, higher-productivity sectors in achieving productivity growth, is often underappreciated. Movement into manufacturing in particular, helped by rapid international trade integration, has been a hallmark of the structural transformation in the region. However, services have played a bigger role across the region in the past three decades. Looking ahead, enabling continued transformation will be critical. As per capita incomes have risen, the move into services will likely become even more prominent. Ensuring a shift toward more productive services will require investment in education and training to supply the needed skills, especially to allow workers to adapt to the wave of new technologies, including AI. Continued international integration in services would be key, with an eye on boosting tradability and competition in services. In many economies, enhancing agricultural productivity will still be important for promoting transformation and growth, along with lowering barriers to workers and resources moving across sectors. Policies to raise labor force participation, especially among elderly workers and women, will be critical for mitigating the impact of population aging and decline in much of the region.