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Rethinking the East Asian Miracle

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Author Info

  • Joseph E. Stiglitz
  • Shahid Yusuf

Abstract

Initially, the intention of this book's work, was to take a fresh look at East Asia's regional experience during the 1990s, and to expand, and revise as necessary the findings of the World Bank's "East Asian Miracle", (published in 1993). However, while work began in 1997 - when the East Asian crisis was only a small, localized cloud over Thailand - the seriousness of the crisis demonstrated the need to bring together a number of different perspectives on key aspects of the East Asian model, and its several country variants. The book assesses the evolving experience with industrial policies, in the forms implemented by individual countries in the region, examines in depth how the Chinese experience meshes with those of other economies in the region - a dimension absent in the "East Asian Miracle" - and, the rich evidence from the 1990s, casts new light on the relative contribution of export-led policies, and of import liberalization to growth, while helping to clarify key issues that influence the choices of exchange rate policies. Taking into account the realization that understanding the East Asian development requires admittance of the political economy of change, of governance, and of the roles of key institutions, the contributors to this book, considered each of these carefully, and offer an economic kaleidoscope on East Asia that is deep, and analytically rigorous.

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Bibliographic Info

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This book is provided by The World Bank in its series World Bank Publications with number 13969 and published in 2001-06.

ISBN: 0-19-521600-8
Handle: RePEc:wbk:wbpubs:13969

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Keywords: Poverty Reduction - Achieving Shared Growth Economic Theory and Research Earth Sciences and GIS Banks and Banking Reform Environmental Economics and Policies;

References

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  1. Alwyn Young, 1992. "A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore," NBER Chapters, in: NBER Macroeconomics Annual 1992, Volume 7, pages 13-64 National Bureau of Economic Research, Inc.
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Citations

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Cited by:
  1. Byron Gangnes & Ari Van Assche, 2004. "Modular Production Networks in Electronics: the Nexus between Management and Economics Research," Working Papers 21-2004, Singapore Management University, School of Economics.
  2. Tarp, Finn & Roland-Holst, David & Rand, John, 2003. "Economic Structure and Development in an Emergent Asian Economy: Evidence from a Social Accounting Matrix for Vietnam," MPRA Paper 29415, University Library of Munich, Germany.
  3. Paul Atkinson & Adrian Blundell-Wignall & Caroline Roulet, 2013. "Integration versus Interdependence and Complexity in Global Trade and Finance in the Post-War Period," SUERF 50th Anniversary Volume Chapters, SUERF - The European Money and Finance Forum.
  4. Berik, Gunseli & Van der Meulen Rodgers, Yana & Zveglich, Joseph E., 2003. "International trade and wage discrimination : evidence from East Asia," Policy Research Working Paper Series 3111, The World Bank.
  5. Hanazaki, Masaharu & Liu, Qun, 2003. "The Asian Crisis and Corporate Governance: Ownership Structure, Debt Financing, and Corporate Diversification," CEI Working Paper Series 2003-18, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
  6. Ho-Chul Lee & McNulty, Mary P., 2003. "East Asia's dynamic development model and the Republic of Korea's experiences," Policy Research Working Paper Series 2987, The World Bank.
  7. Nabeshima, Kaoru, 2011. "Growth strategies in a greener world," IDE Discussion Papers 314, Institute of Developing Economies, Japan External Trade Organization(JETRO).
  8. Stephan Klasen, 2006. "Armutsreduzierung im Zeitalter der Globalisierung," Ibero America Institute for Econ. Research (IAI) Discussion Papers 146, Ibero-America Institute for Economic Research.
  9. Ruiz Estrada, Mario Arturo & Park, Donghyun, 2008. "Korean unification: How painful and how costly," Journal of Policy Modeling, Elsevier, vol. 30(1), pages 87-100.
  10. Bayraktar, Nihal & Fofack, Hippolyte, 2007. "Specification of investment functions in Sub-Saharan Africa," Policy Research Working Paper Series 4171, The World Bank.
  11. Guillaumin, Cyriac, 2009. "Financial integration in East Asia: Evidence from panel unit root and panel cointegration tests," Journal of Asian Economics, Elsevier, vol. 20(3), pages 314-326, May.
  12. Arteta, Carlos, 2002. "Exchange Rate Regimes and Financial Dollarization: Does Flexibility Reduce Bank Currency Mismatches?," Center for International and Development Economics Research, Working Paper Series qt9jb1p0jg, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
  13. Ishrat Husain, 2007. "Reforming the Government in Pakistan: Rationale, Principles and Proposed Approach," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 12(Special E), pages 1-15, September.
  14. Barbara Stallings, 2004. "Financial Liberalization, Crisis, and Rescue: Lessons for China from Latin America and East Asia?," IDB Publications 48078, Inter-American Development Bank.
  15. Bair, Jennifer & Peters, Enrique Dussel, 2006. "Global commodity chains and endogenous growth: Export dynamism and development in Mexico and Honduras," World Development, Elsevier, vol. 34(2), pages 203-221, February.
  16. Cull, Robert & Xu, Lixin Colin & Yang, Xi & Zhou, Li-An & Zhu, Tian, 2013. "Market facilitation by local government and firm efficiency : evidence from China," Policy Research Working Paper Series 6688, The World Bank.
  17. Sujarwoto & Gindo Tampubolon, 2011. "Child health and mothers’ social capital in Indonesia through crisis," Brooks World Poverty Institute Working Paper Series 14911, BWPI, The University of Manchester.

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