Apec and the New Economy

by Mann, Catherine L.; Rosen, Daniel H.

• ISBN13: 9780881323290
• ISBN10: 0881323292
• Format: Paperback
• Copyright: 2002-06-01
• Publisher: Inst for Intl Economics

Table of Contents

Executive Summary	1	(9)
Overview of the Project	1	(1)
From Brunei	1	(1)
...to Shanghai	1	(1)
Summary Objectives of the Report and Basic Outline of Method	2	(2)
A New Emphasis on Transformation	3	(1)
Summary of Analytical Conclusions	4	(6)
Spanning the four domains:	5	(1)
Within the domain of trade and cross-border investment	6	(1)
Within the domain of banking and financial policies:	7	(1)
Within the domain of pro-competitive market policy and legal regime:	7	(1)
Within the domain of fiscal policy and fiscal activities of government:	8	(2)
The Fundamentals: Definition and Policy Underpinnings of the New Economy	10	(13)
What is-the ``New Economy''	10	(2)
The Knowledge-Based Economy and the New Economy	12	(3)
What Are the Policy Fundamentals?	15	(7)
Fiscal Policy and Fiscal Activities:	15	(2)
Banking and Financial Structure:	17	(1)
Trade and cross-border investment policies:	18	(2)
Competition policy and legal regimes:	20	(1)
Synergies among policy domains:	21	(1)
Conclusion	22	(1)
The Evidence: Benefits and Challenges of the New Economy	23	(15)
Introduction	23	(1)
Information and Transformation; Dot-Com Bust, But Not the New Economy	23	(2)
Evidence on Productivity Growth and the Use and Diffusion of ICTs	25	(5)
Review of the Literature: The US experience precipitates research	26	(1)
...and raises similar questions for other economies	27	(2)
ICTs are the fad now, but research on productivity growth goes back a long way	29	(1)
Aggregate and global benefits of the New Economy	30	(8)
Time-series analysis of efficiency gains:	31	(1)
Broad analysis of policy reforms:	31	(2)
Economic gains through trade liberalization, particularly in services:	33	(3)
Sub-Regional Trading Arrangements	36	(2)
Case Studies of the New Economy in APEC	38	(21)
Restructuring and Transformation	38	(11)
Conclusions About Transformation	49	(1)
Transformation and Policy	49	(7)
Fiscal Policy	50	(2)
Financial Deepening	52	(1)
Trade and Investment Policy	53	(1)
Competition and Legal	54	(2)
The Place of Human Resource Policy	56	(1)
National E-Commerce Promotion Strategies	57	(2)
Implications of New Economy Divergence: Digital Divide	59	(24)
Introduction	59	(1)
Initial conditions and Predisposition to Policy Reform	60	(6)
Productivity and Growth	60	(2)
Digital Measures	62	(2)
KBE Status Indicators	64	(1)
Challenges to and Predisposition to Reform	65	(1)
Policy Conditions, Sectoral Transformation and Trade Competitiveness in the New Economy	66	(13)
Measuring Overall Policy Conditions in APEC Economies	67	(4)
Measuring Sectoral Transformation In the New Economy	71	(2)
Putting These Together with Trade Patterns: Competitive Pressures and Opportunities	73	(6)
Other Aspects of Differential Progress	79	(4)
Brain drain:	80	(1)
Reactions from civil society:	81	(1)
International relations and new alliances?	81	(2)
Analytical Conclusions	83	(8)
Challenge to Reforms: Spanning the Four Policy Domains	83	(1)
``Stove-pipe'' government bureaucracy and public-private alliances:	83	(1)
Poor domestic and global economic and political environments:	84	(1)
Resource transfers and liberalization:	84	(1)
Challenges for Trade and Cross-Border Investment Liberalization	84	(1)
Absence of on-going multilateral trade round:	85	(1)
Incomplete fulfillment of existing commitments:	85	(1)
Challenges for Banking and Financial Market Policies	85	(2)
Poor Supervisory Oversight:	86	(1)
Lack of Financial Skills:	86	(1)
Thin non-bank financial markets:	87	(1)
Challenges for Fiscal Policy and Reform of Fiscal Activities	87	(2)
Redirecting internal operations and external activities:	88	(1)
Transforming inner workings of government:	88	(1)
Challenges for Pro-competitive Market Policies and Legal Regime	89	(1)
Sophistication and rapid evolution of competitive environment:	89	(1)
Difficulty of scope and nature of legal reforms:	89	(1)
Lack of a trusted environment:	89	(1)
Command and control will speed adjustments right now:	90	(1)
A Final Word	90	(1)
Appendix 1 Research on Transformation of Industries by ICTs Technologies	91	(2)
Appendix 2 Trade Exposure Charts for Each Economy	93	(10)
Appendix 3 Trade Exposure Charts for Each Sector	103	(6)
Appendix 4 Case Studies	109