FIRM FOUNDATIONS OF GROWTH Productivity and Technology in East Asia and Pacific

For decades, the East Asia and Pacific (EAP) region has been seen as a model of economic development. Rapid growth has raised wages and lifted millions out of poverty. However, three-quarters of this growth in the 21st century has been driven by significant investments in physical capital, such as buildings, machines, and equipment, and less than one-fifth by increases in productivity. In a series of new books, the EAP region of the World Bank is examining how technological advances are impacting services, productivity, jobs, and the transition to low-carbon economies. This book focuses on firms as the foundations of productivity growth and creators of better jobs. Through a firm-level lens, it explores the constraints and policies needed to boost firm productivity.

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