Shetty, Sudhir

East Asia and Pacific
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Global Economy, Poverty
East Asia and Pacific
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Last updated January 31, 2023
Sudhir Shetty is currently Chief Economist of the East Asia and Pacific Region of the World Bank. Until June 2014, he was the Director of the Poverty Reduction and Economic Management (PREM) in the East Asia and Pacific Region. Prior to that, he was Co-Director of the team that prepared the World Bank’s 2012 World Development Report on Gender Equality and Development.  He previously headed the PREM department in the Africa Region of the World Bank, managed the Bank’s central Poverty Reduction group and held a number of positions as an economist in both the Africa and East Asia and Pacific regions of the Bank. Mr. Shetty has a Ph.D. in Economics from Cornell University and an MBA from the Indian Institute of Management, Ahmedabad.  Before joining the Bank in 1987, Mr. Shetty was an Assistant Professor of Public Policy and Economics at Duke University.   

Publication Search Results

Now showing 1 - 3 of 3
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    Africa : Leveraging the Crisis into a Development Takeoff
    (World Bank, Washington, DC, 2010-09) Devarajan, Shantayanan ; Shetty, Sudhir
    Africa's precise growth and poverty reduction was the result of increased external resources, a buoyant global economy and crucially improved economic policies. Although it is still the world's poorest region, the prospects for resuming growth are good. Additional resources and further policy reforms could launch the continent on a path of sustained growth and poverty reduction. Africa is the world's poorest region and faces development challenges of monumental proportions. Nevertheless, the continents prospects for resuming growth are good because policy reforms generated relative rapid economic growth and poverty reduction before the global crisis, and because policy makers by and large continued to pursue these policies during the crisis. It also means that there is increasing political support for pro-poor reforms the very reforms that will help the continent address the challenges of infrastructure improvement, job creation, governance, and shrinking aid. If the international community continues to support Africa, the combination of additional resources and policy reforms could launch the continent on a path of sustained, rapid growth and poverty reduction.
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    China Economic Update, June 2014
    (World Bank, Beijing, 2014-06) Smits, Karlis ; Hu, Bingjie ; Luo, Binglie ; Ollero, Tony ; Vashakmadze, Ekaterine ; Rohland, Klaus ; Shetty, Sudhir ; Hoftman, Bert ; Goh, Chorching
    Chinas economic growth is gradually slowing as the structural transformation of the economy continues. Output grew by 7.7 percent in 2013, matching its 2012 growth rate and exceeding the governments 7.5 percent indicative target. In recent months economic activity, including industrial production, started to show signs of acceleration. The recent acceleration, expected to continue into the next two quarters, is partly reflecting the effect of new growth-supporting measures, robust consumption, and a recovery of external demand. Chinas growth will continue to moderate over the medium term, and the structural shifts will become more evident. Growth in China is expected to decrease marginally to 7.6 percent in 2014 and 7.5 percent in 2015, from 7.7 percent in 2013. Fiscal and financial sector reforms are needed to address financial stability risks in the medium run. The first task involves effectively managing the process of rapid credit growth, including less well-regulated shadow banking system. The second involves gradual and orderly deleveraging of large stock of local government debt accumulated through off-budget and quasi-fiscal platforms.
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    A Resurgent East Asia: Navigating a Changing World
    (Washington, DC: World Bank, 2019) Mason, Andrew D. ; Shetty, Sudhir
    East Asia has been a paragon of global development success. The dramatic transformation of the region over the past half century—with a succession of countries having progressed from low-income to middle-income and even to high-income status—has been built on what has come to be known as the “East Asian development model.” A combination of policies that fostered outward-oriented, labor-intensive growth while strengthening basic human capital and providing sound economic governance has been instrumental in moving hundreds of millions of people out of poverty and into economic security. Yet East Asia’s economic resurgence remains incomplete. More than 90 percent of its people now live in 10 middle-income countries, many of which can realistically aspire to high-income status in the next generation or two. But these countries are still much less affluent and productive than their high-income counterparts. Even as the region’s middle-income countries attempt to move up to high-income status, they confront a rapidly changing global and regional economic environment. Slowing growth in global trade and shifts in its patterns, rapid technological change, and evolving country circumstances all present challenges to sustaining productivity growth, fostering inclusion, and enhancing state effectiveness. A Resurgent East Asia: Navigating a Changing World is about how policy makers across developing East Asia will need to adapt their development model to effectively address these challenges in the coming decade and sustain the region’s remarkable development performance.