The Innovation Imperative for Developing East Asia

After a half century of transformative economic progress that moved hundreds of millions of people out of poverty, countries in developing East Asia are facing an array of challenges to their future development. Slowed productivity growth, increased fragility of the global trading system, and rapid...

Full description

Bibliographic Details
Main Authors:	Cirera, Xavier, Mason, Andrew D., de Nicola, Francesca, Kuriakose, Smita, Mare, Davide S., Tran, Trang Thu
Format:	Book
Published:	Washington, DC: World Bank 2021
Subjects:	PRODUCTIVITY GROWTH TECHNOLOGY CHANGE INTERNATIONAL TRADE ECONOMIC GROWTH GROWTH DRIVERS INNOVATION SERVICES TRADE TECHNOLOGY INNOVATION INNOVATION POLICY PRIVATE SECTOR DEVELOPMENT LABOR SKILLS MANAGERIAL CAPABILITIES RISK FINANCE POVERTY REDUCTION TECHNOLOGY TRANSFER TECHNOLOGY ADOPTION TECHNOLOGY DIFFUSION
Online Access:	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/797541614143336483/main-report https://documents.worldbank.org/en/publication/documents-reports/documentdetail/797541614143336483/main-report https://documents.worldbank.org/en/publication/documents-reports/documentdetail/797541614143336483/main-report http://hdl.handle.net/10986/35139

id	okr-10986-35139
recordtype	oai_dc
spelling	okr-10986-351392021-10-01T05:10:52Z The Innovation Imperative for Developing East Asia Cirera, Xavier Mason, Andrew D. de Nicola, Francesca Kuriakose, Smita Mare, Davide S. Tran, Trang Thu PRODUCTIVITY GROWTH TECHNOLOGY CHANGE INTERNATIONAL TRADE ECONOMIC GROWTH GROWTH DRIVERS INNOVATION SERVICES TRADE TECHNOLOGY INNOVATION INNOVATION POLICY PRIVATE SECTOR DEVELOPMENT LABOR SKILLS MANAGERIAL CAPABILITIES RISK FINANCE POVERTY REDUCTION TECHNOLOGY TRANSFER TECHNOLOGY ADOPTION TECHNOLOGY DIFFUSION After a half century of transformative economic progress that moved hundreds of millions of people out of poverty, countries in developing East Asia are facing an array of challenges to their future development. Slowed productivity growth, increased fragility of the global trading system, and rapid changes in technology are all threatening export-oriented, labor-intensive manufacturing—the region’s engine of growth. Significant global challenges—such as climate change and the COVID-19 pandemic—are exacerbating economic vulnerability. These developments raise questions about whether the region’s past model of development can continue to deliver rapid growth and poverty reduction. Against this background, The Innovation Imperative in Developing East Asia aims to deepen understanding of the role of innovation in future development. The report examines the state of innovation in the region and analyzes the main constraints that firms and countries face to innovating. It assesses current policies and institutions, and lays out an agenda for action to spur more innovation-led growth. A key finding of the report is that countries’ current innovation policies are not aligned with their capabilities and needs. Policies need to strengthen the capacity of firms to innovate and support technological diffusion rather than just invention. Policy makers also need to eliminate policy biases against innovation in services, a sector that is growing in economic importance. Moreover, countries need to strengthen key complementary factors for innovation, including firms’ managerial quality, workers’ skills, and finance for innovation. Countries in developing East Asia would also do well to deepen their tradition of international openness, which could foster openness in other parts of the world. Doing so would help sustain the flows of ideas, trade, investment, and people that facilitate the creation and diffusion of knowledge for innovation. 2021-02-17T16:42:35Z 2021-02-17T16:42:35Z 2021-02-23 Book https://documents.worldbank.org/en/publication/documents-reports/documentdetail/797541614143336483/main-report https://documents.worldbank.org/en/publication/documents-reports/documentdetail/797541614143336483/main-report https://documents.worldbank.org/en/publication/documents-reports/documentdetail/797541614143336483/main-report 978-1-4648-1606-2 http://hdl.handle.net/10986/35139 World Bank East Asia and Pacific Regional Report; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Publication East Asia and Pacific East Asia Cambodia China Indonesia Lao PDR Malaysia Mongolia Myanmar Philippines Thailand Vietnam
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	PRODUCTIVITY GROWTH TECHNOLOGY CHANGE INTERNATIONAL TRADE ECONOMIC GROWTH GROWTH DRIVERS INNOVATION SERVICES TRADE TECHNOLOGY INNOVATION INNOVATION POLICY PRIVATE SECTOR DEVELOPMENT LABOR SKILLS MANAGERIAL CAPABILITIES RISK FINANCE POVERTY REDUCTION TECHNOLOGY TRANSFER TECHNOLOGY ADOPTION TECHNOLOGY DIFFUSION
spellingShingle	PRODUCTIVITY GROWTH TECHNOLOGY CHANGE INTERNATIONAL TRADE ECONOMIC GROWTH GROWTH DRIVERS INNOVATION SERVICES TRADE TECHNOLOGY INNOVATION INNOVATION POLICY PRIVATE SECTOR DEVELOPMENT LABOR SKILLS MANAGERIAL CAPABILITIES RISK FINANCE POVERTY REDUCTION TECHNOLOGY TRANSFER TECHNOLOGY ADOPTION TECHNOLOGY DIFFUSION Cirera, Xavier Mason, Andrew D. de Nicola, Francesca Kuriakose, Smita Mare, Davide S. Tran, Trang Thu The Innovation Imperative for Developing East Asia
geographic_facet	East Asia and Pacific East Asia Cambodia China Indonesia Lao PDR Malaysia Mongolia Myanmar Philippines Thailand Vietnam
relation	World Bank East Asia and Pacific Regional Report;
description	After a half century of transformative economic progress that moved hundreds of millions of people out of poverty, countries in developing East Asia are facing an array of challenges to their future development. Slowed productivity growth, increased fragility of the global trading system, and rapid changes in technology are all threatening export-oriented, labor-intensive manufacturing—the region’s engine of growth. Significant global challenges—such as climate change and the COVID-19 pandemic—are exacerbating economic vulnerability. These developments raise questions about whether the region’s past model of development can continue to deliver rapid growth and poverty reduction. Against this background, The Innovation Imperative in Developing East Asia aims to deepen understanding of the role of innovation in future development. The report examines the state of innovation in the region and analyzes the main constraints that firms and countries face to innovating. It assesses current policies and institutions, and lays out an agenda for action to spur more innovation-led growth. A key finding of the report is that countries’ current innovation policies are not aligned with their capabilities and needs. Policies need to strengthen the capacity of firms to innovate and support technological diffusion rather than just invention. Policy makers also need to eliminate policy biases against innovation in services, a sector that is growing in economic importance. Moreover, countries need to strengthen key complementary factors for innovation, including firms’ managerial quality, workers’ skills, and finance for innovation. Countries in developing East Asia would also do well to deepen their tradition of international openness, which could foster openness in other parts of the world. Doing so would help sustain the flows of ideas, trade, investment, and people that facilitate the creation and diffusion of knowledge for innovation.
format	Book
author	Cirera, Xavier Mason, Andrew D. de Nicola, Francesca Kuriakose, Smita Mare, Davide S. Tran, Trang Thu
author_facet	Cirera, Xavier Mason, Andrew D. de Nicola, Francesca Kuriakose, Smita Mare, Davide S. Tran, Trang Thu
author_sort	Cirera, Xavier
title	The Innovation Imperative for Developing East Asia
title_short	The Innovation Imperative for Developing East Asia
title_full	The Innovation Imperative for Developing East Asia
title_fullStr	The Innovation Imperative for Developing East Asia
title_full_unstemmed	The Innovation Imperative for Developing East Asia
title_sort	innovation imperative for developing east asia
publisher	Washington, DC: World Bank
publishDate	2021
url	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/797541614143336483/main-report https://documents.worldbank.org/en/publication/documents-reports/documentdetail/797541614143336483/main-report https://documents.worldbank.org/en/publication/documents-reports/documentdetail/797541614143336483/main-report http://hdl.handle.net/10986/35139
_version_	1764482408045871104

The Innovation Imperative for Developing East Asia

Similar Items