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King Kong Meets Godzilla: The World Bank and The East Asian Miracle

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Author Info
Rodrik, Dani

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Abstract

The World Bank's The East Asian Miracle: Economic Growth and Public Policy makes official what East Asian specialists had long known: most of the high-performing Asian economies have had extensive government intervention, and some of these interventions, in the areas of credit and exports, have worked in fostering both growth and equity. Nevertheless, the bank finds in the East Asian experience a confirmation of its `market-friendly' approach to policy. Upon closer look, some of the critical bits of analysis contained in the report turn out to be weak and questionable. Consequently, many of the report's conclusions and recommendations, relating to trade and industrial strategy in particular, have to be discounted heavily.

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Publisher Info
Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 944.

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Date of creation: Apr 1994
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Handle: RePEc:cpr:ceprdp:944

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Related research
Keywords: East Asia; Economic Growth;

Find related papers by JEL classification:
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

Cited by:
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  1. Jeffrey A. Frankel & David Romer & Teresa Cyrus, 1996. "Trade and Growth in East Asian Countries: Cause and Effect?," NBER Working Papers 5732, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Turan Subasat, 2008. "Exchange Rate Policies: Fact or Fiction in the Rise of High Performance Asian Economies," Working Papers 0802, Izmir University of Economics. [Downloadable!]
  3. Manuel Pastor, 2004. "Building Social Capital to Protect Natural Capital: The Quest for Environmental Justice," Working Papers wp11, Political Economy Research Institute, University of Massachusetts at Amherst. [Downloadable!]
  4. Francoise Lemoine, 1996. "Trade Policy and Trade Patterns During Transition : A Comparison Between China and the CEECs," Working Papers 1996-02, CEPII research center. [Downloadable!]
  5. John Weeks, 2000. "Latin America and the 'high performing Asian economies': growth and debt," Journal of International Development, John Wiley & Sons, Ltd., vol. 12(5), pages 625-654.
  6. Aliyu, Shehu Usman Rano, 2008. "Exchange Rate Volatility and Export Trade in Nigeria: An Empirical Investigation," MPRA Paper 13490, University Library of Munich, Germany, revised 17 Feb 2009. [Downloadable!]
  7. Coolidge, Jacqueline & Rose-Ackerman, Susan, 1997. "High-level rent-seeking and corruption in African regimes : theory and cases," Policy Research Working Paper Series 1780, The World Bank. [Downloadable!]
  8. Shehu Usman Rano, Aliyu, 2007. "Real Exchange Rate Misalignment: An Application of Behavioral Equilibrium Exchange Rate (BEER) to Nigeria," MPRA Paper 10376, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  9. Marcus Noland & Howard Pack, 2005. "The East Asian Industrial Policy Experience: Implications for the Middle East," Peterson Institute Working Paper Series WP05-14, Peterson Institute for International Economics. [Downloadable!]
  10. David E. Bloom & David Canning & Pia N. Malaney, 1999. "Demographic Change and Economic Growth in Asia," CID Working Papers 15, Center for International Development at Harvard University. [Downloadable!]
    Other versions:
  11. Harvie, Charles & Lee, Hyun-Hoon, 2002. "New Regionalism in East Asia: How Does It Relate to the East Asian Economic Development Model?," Economics Working Papers wp02-10, School of Economics, University of Wollongong, NSW, Australia. [Downloadable!]
  12. Susan-Rose Ackerman, 1997. "Corruption, Infefficiency and Economic Growth," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 24, pages 3-20. [Downloadable!]
  13. Ibrahim Elbadawi & Klaus Schmidt-Hebbel, 1998. "Macroeconomic Policies, Instability, and Growth in the Wo," Working Papers Central Bank of Chile 43, Central Bank of Chile. [Downloadable!]
  14. Diaz-Bautista, Alejandro, 2002. "The role of telecommunications infrastructure and human capital: Mexico´s economic growth and convergence," ERSA conference papers ersa02p102, European Regional Science Association. [Downloadable!]
  15. David E. Bloom & Waseen Noor, 1995. "Is an Integrated Regional Labor Market Emergin in East and Southeast Asia?," NBER Working Papers 5174, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  16. Jörg MAYER, 1996. "Implications Of New Trade And Endogenous Growth Theories For Diversification Policies Of Commodity-Dependent Countries," UNCTAD Discussion Papers 122, United Nations Conference on Trade and Development. [Downloadable!]
  17. Robert Z. Lawrence & David E. Weinstein, 1999. "Trade and Growth: Import-Led or Export-Led? Evidence From Japan and Korea," NBER Working Papers 7264, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  18. Haider A. Khan, 2002. "Innovation and Growth: A Schumpeterian Model of Innovation," CIRJE F-Series CIRJE-F-150, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
  19. Frances Stewart, . "Adjustment and Poverty in Asia: Old Solutions and New Problems -," QEH Working Papers qehwps20, Queen Elizabeth House, University of Oxford. [Downloadable!]
  20. Hyoungsoo Zang, 1997. "Technology Transfer, Income Distribution and the Process of Economic Development," Open Economies Review, Springer, vol. 8(3), pages 245-270, July. [Downloadable!] (restricted)
  21. Derek Headey, 2007. "What Professor Rodrik Means by Policy Reform: Appraising a Post-Washington Paradigm," CEPA Working Papers Series WP052007, School of Economics, University of Queensland, Australia. [Downloadable!]
  22. Haider A. Khan, 2002. "Digital Development: Challenges and Prospects," CIRJE F-Series CIRJE-F-152, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
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