Routledge Human Capital Formation and Economic Growth in Asia

As traditional markets in the USA and Europe face slow deleveraging processes following the global financial crisis, the world looks toward Asian and other emerging markets to maintain growth momentum. This book, part of the PAFTAD Pacific Trade and Development Conference Series, examines the changing landscape of economic development in the Asia and Pacific region. There is a growing understanding within Asia that long-term growth depends on shifting away from a heavy reliance on high savings rates and low-cost labor. To sustain momentum in the coming years, the region must focus on increasing the human capital embodied in its workforce. This text explores the transition toward more educated and skilled labor forces capable of driving future economic progress. It is an essential resource for understanding how human capital development serves as a driver for stability and expansion in emerging economies.