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Export-Led Growth in East Asia: Lessons for Europe's Transition Economies

Author

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  • Kokko, Ari

    (European Institute of Japanese Studies)

Abstract

The focus of the economic policy debate in most of Europe’s transition economies has shifted from stabilization and recovery to growth and convergence during the last few years. This paper summarizes some of the growth experiences of East Asia, and discusses some lessons for Europe’s transition economies. The relevant lessons from Asia focus on the importance of sound macroeconomic policies and an outward oriented trade regime, and highlight the need for public support for the development of trade infrastructure, including institutions for export financing, insurance, market research, and technology transfer. The Asian experiences also suggest that there is reason to be cautious regarding the objective to fix nominal exchange rates during periods of high growth.

Suggested Citation

  • Kokko, Ari, 2002. "Export-Led Growth in East Asia: Lessons for Europe's Transition Economies," EIJS Working Paper Series 142, Stockholm School of Economics, The European Institute of Japanese Studies.
  • Handle: RePEc:hhs:eijswp:0142
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    References listed on IDEAS

    as
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    5. Stiglitz, Joseph E, 1996. "Some Lessons from the East Asian Miracle," The World Bank Research Observer, World Bank Group, vol. 11(2), pages 151-177, August.
    6. A Kokko & Ruben Tansini & Mario Zejan, 1995. "Trade regimes and effects of FDI: evidence from Uruguay," Documentos de Trabajo (working papers) 0695, Department of Economics - dECON.
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    11. Westphal, Larry E., 1978. "The republic of Korea's experience with export-led industrial development," World Development, Elsevier, vol. 6(3), pages 347-382, March.
    12. Chang, Ha-Joon, 1993. "The Political Economy of Industrial Policy in Korea," Cambridge Journal of Economics, Oxford University Press, vol. 17(2), pages 131-157, June.
    13. Ari Kokko & Mario Zejan & Ruben Tansini, 2001. "Trade regimes and spillover effects of FDI: Evidence from Uruguay," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 137(1), pages 124-149, March.
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    Cited by:

    1. Blomström, Magnus & Kokko, Ari, 2003. "The Economics of Foreign Direct Investment Incentives," EIJS Working Paper Series 168, Stockholm School of Economics, The European Institute of Japanese Studies.
    2. Christer Ljungwall, 2006. "Export-led Growth: Application to China's Provinces, 1978-2001," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 4(2), pages 109-126.
    3. Apanisile Olumuyiwa Tolulope & Okunlola Charles Olalekan, 2017. "Growth Effect of Export Promotion on Non-oil Output in Sub-Saharan Africa (1970–2014)," Emerging Economy Studies, International Management Institute, vol. 3(2), pages 139-155, November.
    4. Sigit Setiawan, 2017. "Middle Income Trap and Infrastructure issues In Indonesia: A Strategic Perspective," International Journal of Economics and Financial Issues, Econjournals, vol. 7(4), pages 42-48.
    5. Rahardja, Sjamsu, 2007. "Big dragon, little dragons : China's challenge to the machinery exports of southeast Asia," Policy Research Working Paper Series 4297, The World Bank.
    6. Yao, Lixia & Shi, Xunpeng & Andrews-Speed, Philip, 2018. "Conceptualization of energy security in resource-poor economies: The role of the nature of economy," Energy Policy, Elsevier, vol. 114(C), pages 394-402.
    7. Zia, Bilal H., 2008. "Export incentives, financial constraints, and the (mis)allocation of credit: Micro-level evidence from subsidized export loans," Journal of Financial Economics, Elsevier, vol. 87(2), pages 498-527, February.
    8. Magdalena RĂDULESCU & Luminiţa ŞERBĂNESCU, 2012. "The Impact of FDIs on Exports, and Export Competitiveness in Central and Eastern European Countries," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 2(1), pages 1-5, February.

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    More about this item

    Keywords

    growth; export promotion; transition; EU accession;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P30 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - General

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