Foreword v

Preface vii

Acknowledgments ix

Contributors xi

1. Asia and Pacific at a Turning Point: Transformation, Megatrends, and the Next Growth Frontier 1

2. Structural Transformation in Asia and Pacific 19

3. Investment Inefficiency and Capital Misallocation: The Role of Financial Structure 39

4. Adapting to an Aging Asia: Challenges, Opportunities, and Policy Responses 63

5. Fiscal Implications of Aging in the Asia and Pacific Region 85

6. Adapting to Change: The Influence of Demographics on Asian Banking 119

7. Harnessing the Demographic Dividend in Asia and Pacific:Creating Decent Jobs for Growing Populations 131

8. Leveraging AI to Boost Growth and Productivity in Asia and Pacific 155

9. Digital Payments to Boost Productivity and Advance Inclusive Growth 183

10. The Case for Deeper Asia and Pacific Trade Integration 207

11. Association of Southeast Asian Nations Integration into a Shifting Global Landscape 219

12. The Evolving Development Landscape of Asia and Pacific: The International Economics of Strategic Interdependence 241

13. The Changing Landscape of Financial Integration in Asia and Pacific 259

14. Industrial Policy in Asia and Pacific: Could the Wave Lead to Structural Transformation? 279

15. The Macro Implications of the Energy Transition in the Asia and Pacific Region 297

Index 317