In the same way that no economy starts out with the best set of economic policies, no economy starts out with the best institutions to support the policy-making process. Instead, they inherit institutions that reflect their own unique culture and history. The task of structural reform has to be addressed, therefore, in the context of domestic economic and political institutions and processes.
Examining the nature of structural economic reform and the institutional circumstances in which it succeeds or is inhibited, this volume is less about the content of structural reform and more about how to get there. The chapters develop principles governing the types of institutions that are likely to assist the structural reform process, and then examine the application of those principles within a number of case studies. Finally, the volume presents some ideas about how regional cooperation could help to build and support those institutions that in turn support domestic structural reforms.
Consisting of theoretical chapters and country specific case studies, this book draws on experience with structural reform across a range of Asian economies at different stages of economic development. As such it will be of interest to students and scholars of Asian Economics and Development Economics.
Table of Contents
1. Introduction Peter Drysdale 2. What is structural reform? Philippa Dee 3. Possible elements of a reform agenda Philippa Dee 4. The role of institutions in structural reform Philippa Dee 5. Accelerating economic reform in Japan: The role of the Council on Economic and Fiscal Policy Mitsuo Hosen 6. The policy determinants of structural reform in Australia Gary Banks and Bernard Wonder 7. The policy development process and the agenda for effective institutions in the Philippines Gilberto M. Llanto 8. Economic reforms in Indonesia after the economic crisis Hadi Soesastro, Haryo Aswicahyono and Dionisius A. Narjoko 9. Enhancing institutions and improving regulation: The Malaysian case Shankaran Nambiar 10. Gridlock: Regulatory regimes in the Thai passenger transport sector Pich Nitsmer 11. Institutional changes for private sector development in Vietnam Vo Tri Thanh and Nguyen Tu Anh 12. China’s economic reform: Success, problems and challenges He Fan 13. A strategy for regional cooperation to promote structural reform Hadi Soesastro
Philippa Dee is Visiting Fellow at the Crawford School of Economics and Government at Australian National University.