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Author : Henry S. Rowen
Publisher : Routledge
Page : 373 pages
File Size : 25,5 MB
Release : 2002-11
Category : Business & Economics
ISBN : 1134709285
A wide-ranging, interdisciplinary analysis of the evolution of successful economic policies in East Asia, this study advances a thorough examination of the sustained economic growth enjoyed by the countries in this region.
Author : José Edgardo L. Campos
Publisher : Brookings Institution Press
Page : 224 pages
File Size : 41,39 MB
Release : 1996
Category : Business & Economics
ISBN :
"Easily the most informed and comprehensive analysis to date on how and why East Asian countries have achieved sustained high economic growth rates, this book] substantially advances our understanding of the key interactions between the governors and governed in the development process. Students and practitioners alike will be referring to Campos and Root's series of excellent case studies for years to come." Richard L. Wilson, The Asia Foundation Eight countries in East Asia--Japan, South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, and Indonesia--have become known as the "East Asian miracle" because of their economies' dramatic growth. In these eight countries real per capita GDP rose twice as fast as in any other regional grouping between 1965 and 1990. Even more impressive is their simultaneous significant reduction in poverty and income inequality. Their success is frequently attributed to economic policies, but the authors of this book argue that those economic policies would not have worked unless the leaders of the countries made them credible to their business communities and citizens. Jose Edgardo Campos and Hilton Root challenge the popular belief that East Asia's high performers grew rapidly because they were ruled by authoritarian leaders. They show that these leaders had to collaborate with various sectors of their population to create an environment that was conducive to sustained growth. This required them to persuade the business community that their investments would not be expropriated and to convince the broader population that their short-term sacrifices would be rewarded in the future. Many of the countries achieved business cooperation by creating consultative groups, which the authors call deliberation councils, to enhance accountability and stability. They also obtained popular support through a variety of wealth-sharing measures such as land reform, worker cooperatives, and wider access to education. Finally, to inhibit favoritism and corruption that would benefit narrow interest groups at the expense of broad-based development, these countries' leaders constructed a competent bureaucracy that balanced autonomy with accountability to serve all interests, including the poor. This important book provides useful lessons about how developing and newly industrialized countries can build institutions to implement growth-promoting policies.
Author : Takatoshi Ito
Publisher : University of Chicago Press
Page : 324 pages
File Size : 49,77 MB
Release : 2007-12-01
Category : Political Science
ISBN : 0226386988
The contributors to this volume analyze the growth experiences of Japan, Korea, China, Hong Kong, Singapore, and Taiwan in light of the recently developed endogenous growth theory to provide an understanding of the economic boom in East Asia. The theory explored in this volume attributes the phenomenal economic success of these countries to, among other factors, the role of an outward orientation—a focus on exporting rather than on protecting home markets. In addition, the importance of exchange rate behavior, of the supportive role of government policy, and of the accumulation and promotion of physical and human capital are explored in detail. This collection also examines the extent to which growth in each country became self-sustaining once it began. Demonstrating the relevance of endogenous growth theory for studying this important region, this fourth volume in the NBER-East Asia Seminar on Economics series will be of interest to observers of East Asian affairs.
Author : F. Gerard Adams
Publisher : Bloomsbury Publishing USA
Page : 225 pages
File Size : 30,11 MB
Release : 1998-10-28
Category : Business & Economics
ISBN : 0313028419
East Asia's rapid economic growth and the crisis of 1997 have caught the world's attention. As the Asian miracle has turned to meltdown, the critical question has become whether growth will resume. Based on research and conferences at ICSEAD in Kitakyushu, Japan, this book brings together the work of Asian economic development experts. It considers the forces behind the East Asian growth miracle, the process of growth, the effect of saving, and the effect of foreign direct investment and multinationals. Taking an optimistic view, the authors conclude that rapid growth may resume in East Asia once the crisis has been resolved. The authors argue that a growth process links East Asian countries to each other and to the industrial world, and that growth reflects a process that combines capital formation and technical and institutional change. The 1997 crisis grew out of excessively rapid boom and must be handled before growth will resume. But, the authors conclude, once the crisis has been resolved, the linked process of growth supported by appropriate policies, high levels of savings and investment, and foreign investment will allow growth to resume, although perhaps with a different geographic center of gravity.
Author : Mr.N. F. R. Crafts
Publisher : International Monetary Fund
Page : 46 pages
File Size : 31,19 MB
Release : 1998-09-01
Category : Business & Economics
ISBN : 1451855885
This paper surveys the literature on the growth performance of the east Asian economies in recent decades, evaluates the sustainability of that performance, and provides a preliminary assessment of their long-term growth prospects in the aftermath of the current crisis. It highlights three special aspects of east Asian growth: unusually high factor accumulation, a favorable demographic transition, and the impact of rapid growth on financial and other institutions. The paper argues that there are downside risks to the east Asian “developmental state” model, despite its favorable attributes, and that an alternative model may become more attractive as these economies mature.
Author : Yilmaz Akyuz
Publisher : Routledge
Page : 168 pages
File Size : 29,16 MB
Release : 2020-04-15
Category : Business & Economics
ISBN : 1135260052
This collection of papers challenges the conventional view of East Asian development driven by open and efficient markets and suggests that considerable diversity both at the institutional level and in policy approaches lies behind the region's rapid economic growth.
Author : Shiping Hua
Publisher : Routledge
Page : 317 pages
File Size : 44,87 MB
Release : 2014-12-17
Category : Business & Economics
ISBN : 1317815777
Given the impressive growth in East Asia after World War II, initially led by Japan, the region's development models have been scrutinized since the 1980s. The shared Confucian cultural heritage, strong government guidance, and export led economies were often cited as contributors to the impressive growth. However, major changes have taken place in Asia on and around the turn of the century: Japan experienced two decades of economic slow-down, while World Bank figures reveal that China is poised to become the largest economy in the world in 2014, overtaking the United States. Bearing this in mind, is it even possible to formulate an East Asian development model in the context of a shifting twenty-first century? And if so, what is it? This book addresses this issue by looking at the economic, political and cultural perspectives of China, Japan and South Korea, focusing on dynamism and potential consensus regarding an East Asian development model. The chapters offer a historical background to the East Asian development model, as well as in-depth case studies of each of the countries concerned to show that whilst the East Asian development model does have distinct characteristics as compared with other areas, and other countries may draw some insights from the East Asian experience, it is not a panacea that fits all circumstances and fits all times. This book will be welcomed by students and scholars of Asian economics, Asian politics, international political economy and development studies.
Author : Indermit Singh Gill
Publisher : World Bank Publications
Page : 386 pages
File Size : 18,25 MB
Release : 2007
Category : Business & Economics
ISBN : 082136748X
An East Asian Renaissance, by a World Bank team led by Chief Economist for East Asia & Pacific, Dr Homi Kharas and Economic Adviser, Dr Indermit Gill is the first comprehensive analysis of the new forces and challenges at play in the region since the Bank's seminal report of 1993, The East Asian Miracle. The report argues that regional flows of goods, finance and technology are helping even smaller East Asian countries reap the benefits of economies of scale and that this regional integration must be encouraged. But it also points out that these measures have to be supported by actions at the domestic level to ease the stresses and strains that rapid economic growth leaves in its wake. East Asia must now turn to the urgent domestic challenges of inequality, social cohesion, corruption and environmental degradation arising from its economic success.
Author : Linda Glawe
Publisher : Springer Nature
Page : 356 pages
File Size : 15,93 MB
Release : 2022-01-01
Category : Business & Economics
ISBN : 3030871282
In light of the growing global economic importance of East Asia, this book analyzes and compares the extraordinary development paths and strategies of Japan, South Korea, and China. It examines both the factors that enabled these countries’ prolonged periods of high-speed economic growth, and the reasons for their subsequent “cool-downs.” In addition, the book illustrates how their development strategies served as role models for one another, and what current and future developing countries can learn from the East Asian success stories. This book will appeal to scholars and students of economics and development studies with an interest in the East Asian development model.
Author : Mr.Michael Sarel
Publisher : International Monetary Fund
Page : 38 pages
File Size : 25,24 MB
Release : 1995-09-01
Category : Business & Economics
ISBN : 1451852088
This paper examines the different arguments raised by the studies that addressed the East Asian growth experience. The original arguments presented in this paper are all on the negative side, highlighting problems associated with some of the possible explanations for the East Asian miracle. The paper concentrates mainly on four dimensions of the debate about the East Asian growth experience: (i) The nature of economic growth intensive or extensive?; (ii) The role of public policy and of selective interventions; (iii) The role of high investment rates and a strong export orientation as possible engines of growth; and (iv) The importance of the initial conditions and their relevance for policy.