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

  • Kokko, Ari

    ()

    (European Institute of Japanese Studies)

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.

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Paper provided by The European Institute of Japanese Studies in its series EIJS Working Paper Series with number 142.

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Length: 47 pages
Date of creation: 01 Feb 2002
Date of revision:
Publication status: Published in Emerging Multiplicity – Integration and Responsiveness in Asian Business Development, Söderman, S. (eds.), 2006, pages 33-52, Palgrave Macmillan, Basingstoke.
Handle: RePEc:hhs:eijswp:0142
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Web page: http://www.hhs.se/en/Research/Institutes/EIJS/Email:


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  1. Stiglitz, Joseph E, 1996. "Some Lessons from the East Asian Miracle," World Bank Research Observer, World Bank Group, vol. 11(2), pages 151-77, August.
  2. 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.
  3. Ari Kokko & Mario Zejan & Ruben Tansini, 2001. "Trade regimes and spillover effects of FDI: Evidence from Uruguay," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 137(1), pages 124-149, March.
  4. Takatoshi Ito & Peter Isard & Steven Symansky, 1999. "Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia," NBER Chapters, in: Changes in Exchange Rates in Rapidly Developing Countries: Theory, Practice, and Policy Issues (NBER-EASE volume 7), pages 109-132 National Bureau of Economic Research, Inc.
  5. Chang, Ha-Joon, 1993. "The Political Economy of Industrial Policy in Korea," Cambridge Journal of Economics, Oxford University Press, vol. 17(2), pages 131-57, June.
  6. 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.
  7. Jeffrey Sachs & Andrew M. Warner, 1996. "Achieving Rapid Growth in the Transition Economies of Central Europe," CASE Network Studies and Analyses 0073, CASE-Center for Social and Economic Research.
  8. Katsuro Sakoh, 1984. "Japanese Economic Success: Industrial Policy or Free Market?," Cato Journal, Cato Journal, Cato Institute, vol. 4(2), pages 521-548, Fall.
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