MPDD Seminar Series on “Asia's Economic Transformation: Where to, How, and How Fast?"
The Key Indicators for Asia and the Pacific is the flagship annual statistical data book of the Asian Development Bank (ADB). This year’s theme chapter is “Asia's Economic Transformation: Where to, How, and How Fast?" reviews the direction and pace of Asia's transformation during the last decades. Although during the last four decades Asia grew faster than any other developing region of the world, and a few of its economies have undergone unique transformation, the pace of transformation of many others is very slow and, in many of them, agriculture is still the largest employer and industrialization has hardly taken place. The type of economic transformation seen in many Asian economies is one where workers move from agriculture into low productivity services. The chapter also sketches the main contours of transformation that can be expected in the coming decades.