Developing the Service Sector as an Engine of Growth for Asia

October 1, 2013

This book analyzes the current state of the region's service sector, the salient barriers to service sector development, and the prospects for the sector to serve as an engine for inclusive growth. The guiding principle for Asian policy makers must be to create more competitive service markets by breaking down regulatory barriers which protect vested interests. Such barriers keep out domestic and foreign competitors, and thus stifle efficiency and innovation. While tackling the vested interests requires a great deal of political will, doing so is absolutely essential for more productive services.

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Topics: FOREIGN DIRECT INVESTMENT (FDI) ECONOMIC GROWTH SERVICES LEAST DEVELOPED COUNTRIES (LDCS)

Regions: ASIA-PACIFIC

Authors: DONGHYUN PARK MARCUS NOLAND

Publishing Institution: ASIAN DEVELOPMENT BANK

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