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The End of Both Roads?: The Developmental State, Economic Liberalism and the Asian Crisis

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  • Paul Hirst

    (School of Politics and Sociology, Birkbeck College, University of London, UK, Malet Street, London WC1E 7HX. Tel. 020 7631 6782 Fax. 020 7631 6787 E-mail: p.hirst@bbk.ac.uk)

Abstract

This paper considers the two roads to economic development widely promoted in the early 1990s in the context of the Asian Crisis. The first is that of market friendly policies combined with the liberalisation of domestic and external financial markets, which would promote growth by attracting inward investment. The second is the counter claim that there was a distinctive Asian road based on high levels of domestic saving and state administrative guidance. Both roads are seen to have failed as readily and widely replicable development strategies.

Suggested Citation

  • Paul Hirst, 2000. "The End of Both Roads?: The Developmental State, Economic Liberalism and the Asian Crisis," Journal of Interdisciplinary Economics, , vol. 11(2), pages 139-151, April.
    • Handle: RePEc:sae:jinter:v:11:y:2000:i:2:p:139-151
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