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St Adam and the Dragons: Neo-classical economics and the East Asian miracle

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  • Jonathan Temple

Abstract

This paper addresses recent explanations for the East Asian miracle. The argument that growth is entirely due to the accumulation of inputs is assessed and found wanting. There is still a place for the view that attributes success to activist policy. This is especially so, since the other explanations of East Asian success are rarely wholly convincing. The paper demonstrates that popular cross-country models of growth usually fail to explain the East Asian experience, but presents evidence supporting emphasis on favourable initial conditions, including early specialization in manufacturing.

Suggested Citation

  • Jonathan Temple, 1997. "St Adam and the Dragons: Neo-classical economics and the East Asian miracle," Oxford Development Studies, Taylor & Francis Journals, vol. 25(3), pages 279-300.
    • Handle: RePEc:taf:oxdevs:v:25:y:1997:i:3:p:279-300
    DOI: 10.1080/13600819708424136
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    References listed on IDEAS

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    1. Jeffrey A. Frankel, David Romer and Teresa Cyrus., 1995. "Trade and Growth in East Asian Countries: Cause and Effect?," Center for International and Development Economics Research (CIDER) Working Papers C95-050, University of California at Berkeley.
    2. Dani Rodrik, 1995. "Trade Strategy, Investment, and Exports: Another Look at East Asia," NBER Working Papers 5339, National Bureau of Economic Research, Inc.
    3. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
    4. Takatoshi Ito & Anne O. Krueger, 1995. "Growth Theories in Light of the East Asian Experience," NBER Books, National Bureau of Economic Research, Inc, number ito_95-2, March.
    5. Johnson, Paul & Temple, Jonathan, 1996. "Social Capability and Economic Development," Vassar College Department of Economics Working Paper Series 37, Vassar College Department of Economics.
    6. Dani Rodrik & Tain-Jy Chen, 1998. "TFPG Controversies, Institutions and Economic Performance in East Asia," International Economic Association Series, in: Yujiro Hayami & Masahiko Aoki (ed.), The Institutional Foundations of East Asian Economic Development, chapter 4, pages 79-105, Palgrave Macmillan.
    7. Takatoshi Ito & Anne O. Krueger, 1995. "Introduction to "Growth Theories in Light of the East Asian Experience, NBER-EASE volume 4"," NBER Chapters, in: Growth Theories in Light of the East Asian Experience, NBER-EASE Volume 4, pages 1-6 National Bureau of Economic Research, Inc.
    8. KOOP , Gary & OSIEWALSKI, Jacek & STEEL , Mark, 1995. "Measuring the Sources of Output Growth in a Panel of Countries," LIDAM Discussion Papers CORE 1995042, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    Cited by:

    1. Chia-Hung Sun, 2006. "Imperfect Competition, Economic Miracle, and Manufacturing Productivity Growth: Empirical Evidence from Taiwan," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 34(3), pages 341-359, September.
    2. Temple, Jonathan, 1998. "Initial Conditions, Social Capital and Growth in Africa," Journal of African Economies, Centre for the Study of African Economies, vol. 7(3), pages 309-347, October.

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