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Closing Development Gaps: Challenges and Policy Options

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  • Douglas H. Brooks
  • Rana Hasan
  • Jong-Wha Lee
  • Hyun H. Son
  • Juzhong Zhuang

Abstract

There are significant income and nonincome development gaps around the world. Closing these gaps will require not only increasing and sustaining economic growth in low-income regions, but also policies that close nonincome development gaps directly. Governments need to support private investment and entrepreneurship by investing in human capital and infrastructure; developing the financial sector; improving governance; and eliminating other impediments created by market, institutional, or policy failures. Policy makers should improve access to and quality of health, education, and other social services. This means better targeting and increased public spending on social services that directly benefit the poor; innovative delivery mechanisms informed by rigorous evaluation; and social protection systems. The experience of developing Asia and others has shown that external trade and finance—including foreign direct investment, remittances, and aid—play a critical role. It is therefore imperative that governments continue to promote globalization and regional integration.

Suggested Citation

  • Douglas H. Brooks & Rana Hasan & Jong-Wha Lee & Hyun H. Son & Juzhong Zhuang, 2010. "Closing Development Gaps: Challenges and Policy Options," Asian Development Review (ADR), World Scientific Publishing Co. Pte. Ltd., vol. 27(02), pages 1-28, December.
    • Handle: RePEc:wsi:adrxxx:v:27:y:2010:i:02:n:s0116110510500071
    DOI: 10.1142/S0116110510500071
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    1. Asian Development Bank (ADB) & Asian Development Bank (ADB) & Asian Development Bank (ADB) & Asian Development Bank (ADB), 2012. "Framework of Inclusive Growth Indicators 2012: Key Indicators for Asia and the Pacific Special Supplement," ADB Reports RPT124910-3, Asian Development Bank (ADB), revised 09 Sep 2013.
    2. Muhammad Shahbaz & Miroslav Mateev & Salah Abosedra & Muhammad Ali Nasir & Zhilun Jiao, 2021. "Determinants of FDI in France: Role of transport infrastructure, education, financial development and energy consumption," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 1351-1374, January.
    3. Das, Sanchita Basu & Narayanan, Badri, 2022. "ASEAN Education Cooperation: An Assessment of the Education Divide and Measuring the Potential Impact of Its Elimination," ADBI Working Papers 1300, Asian Development Bank Institute.
    4. Aurora A.C. Teixeira & Rosa Forte & Susana Assunção, 2017. "Do countries' endowments of non-renewable energy resources matter for FDI attraction? A panel data analysis of 125 countries over the period 1995–2012," International Economics, CEPII research center, issue 150, pages 57-71.
    5. Imen Mohamed Sghaier, 2021. "Foreign Financial Flows, Human Capital and Economic Growth in North African Countries," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 355-371, September.
    6. Larisa Kapustina & Ľudmila Lipková & Oksana Falchenko, 2016. "Evaluation of Foreign Direct Investment Contribution in the Economic Development of Sverdlovsk Region and Russia," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 741-754.
    7. Naveen Kumar Jain & Tanvi Kothari & Vikas Kumar, 2016. "Location Choice Research: Proposing New Agenda," Management International Review, Springer, vol. 56(3), pages 303-324, June.
    8. Andrés Niembro & Jésica Sarmiento, 2021. "Regional development gaps in Argentina: A multidimensional approach to identify the location of policy priorities," Regional Science Policy & Practice, Wiley Blackwell, vol. 13(4), pages 1297-1327, August.

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    More about this item

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • F10 - International Economics - - Trade - - - General
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F35 - International Economics - - International Finance - - - Foreign Aid
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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