Green Services and Emergence and Recovery from the Global Economic Slowdown in Developing Asian Economies

Abstract

The global economic slowdown has again highlighted the vulnerability of export-led development models and economies to downturns in export markets. Economic deepening or “rebalancing†with an emphasis on service-sector development should be—and is becoming—one long-term response to the crisis by Asia’s emerging economies. In the long run, sustainable economic development will depend in part on achieving a “green†trajectory of service sector development, in which services help green the “product economy.†[ADBI Working Paper 209]