Studies In Trade And Investment 65: Globalization Of Production And Trends And Prospects For The Competitiveness Of Small And Medium Sized Enterprises (smes) In Asia And The Pacific

"The principal aim of this publication is to fill a perceived gap in policy-related research and understanding of the development of the small and medium-sized enterprise (SME) sector in the Asia-Pacific region, in the context of a rapidly changing and mutating international business environment. To foster growing national economies, policymakers in virtually all countries are expected to facilitate the entry of new business ventures and to increase the competitiveness of SMEs. SMEs typically account for the vast majority of companies in an economy, create the majority of employment, and are responsible for a substantial number of technical innovations in various sectors. Thus, their growth and survival are critical for sustainable and inclusive socio-economic development under intensified global competition. However, the outbreak of the global economic crisis in 2008 added to the challenges faced by SMEs--and policymakers seeking to support the SME sector in an increasingly volatile international business environment. SME development is a key ingredient in the policy mix that will allow international business to return to healthy growth and permit Asia-Pacific economies to return to robust and inclusive growth. Although considerable research has already been undertaken in this broad field, many developing countries in Asia and the Pacific lack a comprehensive understanding of the rapidly changing needs of the business sector--a result of the ongoing globalization of productio--and how such needs should be taken into account in the design and implementation of effective enabling policy frameworks for SME development." --Publisher's website. Focuses on a key dynamic that is changing the business environment : the globalization of production, which has major implications for the growth prospects of small and medium-sized enterprises (SMEs) in Asia and the Pacific. Shows that the current global economic environment is characterized by trade liberalisation, rapidly changing technology, and growing and ever-mutating demand for higher-quality and differentiated intermediate and final products and services that must meet increasingly stringent international standards. By facilitating linkages with foreign buyers and large multinational enterprises, the forces of globalization loosen the constraints of domestic economies and markets, and provide local SMEs with potential access to globally distributed assets, including information, technology, skills, capital and markets. Seeks to provide some policy-oriented recommendations and practical initiatives that would be of use SMEs in Asia and the Pacific Globalization of production and the competitiveness of SMEs in Asia and the Pacific : trends and prospects Foreign direct investment (FDI), global sourcing and industrial linkages Policy recommendations.