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Savings, investment and the corporation in the East Asian miracle

  • Ajit Singh

Most economists will accept that high rates of accumulation have been a key factor in East Asian economic success. This contribution explores specifically the reasons for extremely high rates of corporate savings and investments achieved by these economies. It focuses on the private corporation, the relationship between the corporation and the government and that between the corporation and the financial system. It analyses the nature of the investments-profits-savings nexus in Japan and Korea and indicates its contribution towards resolving the main macro-economic constraints on economic growth.

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Article provided by Taylor & Francis Journals in its journal Journal of Development Studies.

Volume (Year): 34 (1998)
Issue (Month): 6 ()
Pages: 112-137

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Handle: RePEc:taf:jdevst:v:34:y:1998:i:6:p:112-137
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  1. Honohan, Patrick & Atiyas, Izak, 1989. "Intersectoral financial flows in developing countries," Policy Research Working Paper Series 164, The World Bank.
  2. Kenneth A. Froot & Andre F. Perold & Jeremy C. Stein, 1991. "Shareholder Trading Practices and Corporate Investment Horizons," NBER Working Papers 3638, National Bureau of Economic Research, Inc.
  3. Franklin Allen & Douglas Gale, 1994. "A welfare comparison of intermediaries and financial markets in Germany and the U.S," Working Papers 95-3, Federal Reserve Bank of Philadelphia.
  4. Jacobson, Robert & Aaker, David, 1993. "Myopic management behavior with efficient, but imperfect, financial markets : A comparison of information asymmetries in the U.S. and Japan," Journal of Accounting and Economics, Elsevier, vol. 16(4), pages 383-405, October.
  5. Aoki, Masahiko, 1990. "Toward an Economic Model of the Japanese Firm," Journal of Economic Literature, American Economic Association, vol. 28(1), pages 1-27, March.
  6. Kenji Kojima, 1994. "An International Perspective on Japanese Corporate Finance," Kobe Economic & Business Review, Research Institute for Economics & Business Administration, Kobe University, vol. 39, pages 11-59.
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