Catching up with the West: a perspective on Asian economic development
Abstract Following closely my remit, this paper reviews and assesses Asian economic development in the recent post-1980 period, as well as over the somewhat longer time-span since WWII. Its chief purpose is to draw analytical and policy implications from this experience. This is a challenging but pleasant task, since, conceived at least in narrow economic terms (growth of per capita incomes), the Asian story is generally speaking one of outstanding success. Indeed, it would be no exaggeration to say that post-World War II economic expansion in a number of Asian countries are the most successful examples of industrialization and fast growth over a sustained period in the entire history of mankind. Recall that Japan in 1950 produced less than 5 million tonnes of crude steel per annum and a little over 30 thousand motor vehicles of all types. The US output of steel at that time was nearly 90 million tonnes and it produced about 7 million automobiles per year. By the mid-1970s the Japanese had caught up with the US in the production of steel and replaced West Germany as the world's largest exporter of cars. By 1980 Japan overtook the US to become the largest producer of automobiles in the world.
|Date of creation:||15 Nov 1996|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Akyuz, Yilmaz & Gore, Charles, 1996. "The investment-profits nexus in East Asian industrialization," World Development, Elsevier, vol. 24(3), pages 461-470, March.
- Singh, Ajit, 1994.
"Openness and the market friendly approach to development: Learning the right lessons from development experience,"
Elsevier, vol. 22(12), pages 1811-1823, December.
- Singh, Ajit, 1995. "'Openness' and the 'Market Friendly' approach to development: learning the right lessons from development experience," MPRA Paper 54988, University Library of Munich, Germany.
- Allen, Franklin & Gale, Douglas, 1995.
"A welfare comparison of intermediaries and financial markets in Germany and the US,"
European Economic Review,
Elsevier, vol. 39(2), pages 179-209, February.
- 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.
- Stein, Jeremy C, 1988.
"Takeover Threats and Managerial Myopia,"
Journal of Political Economy,
University of Chicago Press, vol. 96(1), pages 61-80, February.
- Maddison, A., 1991.
"A Long Run Perspective on Saving,"
443, Groningen State, Institute of Economic Research-.
- Amsden, Alice & Singh, Ajit, 1993.
"The optimal degree of competition and dynamic efficiency in Japan and Korea,"
54982, University Library of Munich, Germany.
- Amsden, Alice H. & Singh, Ajit, 1994. "The optimal degree of competition and dynamic efficiency in Japan and Korea," European Economic Review, Elsevier, vol. 38(3-4), pages 941-951, April.
- Leonardo Leiderman & Guillermo A. Calvo & Carmen Reinhart, 1994.
"Inflows of Capital to Developing Countries in the 1990s: Causes and Effects,"
Research Department Publications
4002, Inter-American Development Bank, Research Department.
- Guillermo A. Calvo & Leonardo Leiderman & Carmen M. Reinhart, 1996. "Inflows of Capital to Developing Countries in the 1990s," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 123-139, Spring.
- Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, 1996. "Inflows of capital to developing countries in the 1990s," MPRA Paper 13707, University Library of Munich, Germany.
- Guillermo A. Calvo & Leonardo Leiderman & Carmen M. Reinhart, 1994. "Inflows of Capital to Developing Countries in the 1990s: Causes and Effects," IDB Publications (Working Papers) 5718, Inter-American Development Bank.
- 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.
- 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.
- Kenji Kojima, 1994. "An International Perspective on Japanese Corporate Finance," Discussion Paper Series 45, Research Institute for Economics & Business Administration, Kobe University.
- Alberto Alesina & Roberto Perotti, 1993.
"Income Distribution, Political Instability, and Investment,"
NBER Working Papers
4486, National Bureau of Economic Research, Inc.
- Alesina, Alberto & Perotti, Roberto, 1996. "Income distribution, political instability, and investment," European Economic Review, Elsevier, vol. 40(6), pages 1203-1228, June.
- Kenneth A. Froot & Andre F. Perold & Jeremy C. Stein, 1992.
"Shareholder Trading Practices And Corporate Investment Horizons,"
Journal of Applied Corporate Finance,
Morgan Stanley, vol. 5(2), pages 42-58.
- 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.
- Ajit Singh, 1994. "Du plan au marché : la réforme maîtrisée en Chine," Revue Tiers Monde, Programme National Persée, vol. 35(139), pages 659-684.
- Stein, Jeremy C, 1989. "Efficient Capital Markets, Inefficient Firms: A Model of Myopic Corporate Behavior," The Quarterly Journal of Economics, MIT Press, vol. 104(4), pages 655-69, November.
- Young, Alwyn, 1994. "Lessons from the East Asian NICS: A contrarian view," European Economic Review, Elsevier, vol. 38(3-4), pages 964-973, April.
- Takatoshi Ito & Anne O. Krueger, 1995. "Growth Theories in Light of the East Asian Experience, NBER-EASE Volume 4," NBER Books, National Bureau of Economic Research, Inc, number ito_95-2, October.
- 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.
- Perotti, Roberto & Alesina, Alberto, 1996. "Income Distribution, Political Instability, and Investment," Scholarly Articles 4553018, Harvard University Department of Economics.
- Odagiri, Hiroyuki, 1994. "Growth through Competition, Competition through Growth: Strategic Management and the Economy in Japan," OUP Catalogue, Oxford University Press, number 9780198288732.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:54925. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht)
If references are entirely missing, you can add them using this form.