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Industrialization Meets Globalization : Uncertain Reflections on East Asian Experience

Author

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  • Westphal, Larry E.

    () (Swarthmore College, Department of Economics)

Abstract

The efficacy of export-led industrialization in the hyper-successful East Asian economies depended in no small measure on the forces that drove globalization. These forces fueled transfers of technology in unprecedented volumes and by innovative means in a variety of industries, including those at the frontiers of global technological change. The successful exploitation of these transfers would not have been possible without purposeful, aggressive actions of the part of the recipient firms in order to realize the increased technological capabilities that they enabled. Firms were incited to undertake these activities by conducive, neoclassical policies which were crucially augmented with selective interventions that fostered rapid technological development. Owing to significant uncertainties about the future course of the global economy, comprehension of the ingredients of past success does not suffice to state the recipe for future success, but it is sufficient to identify the key areas of concern for future policy making.

Suggested Citation

  • Westphal, Larry E., 2000. "Industrialization Meets Globalization : Uncertain Reflections on East Asian Experience," UNU-INTECH Discussion Paper Series 8, United Nations University - INTECH.
  • Handle: RePEc:unm:unuint:200008
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    File URL: http://www.intech.unu.edu/publications/discussion-papers/2000-8.pdf
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    References listed on IDEAS

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    1. Theodore H. Moran, 1998. "Foreign Direct Investment and Development: The New Policy Agenda for Developing Countries and Economies in Transition," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 53.
    2. Lall, Sanjaya, 1998. "Exports of Manufactures by Developing Countries: Emerging Patterns of Trade and Location," Oxford Review of Economic Policy, Oxford University Press, vol. 14(2), pages 54-73, Summer.
    3. Nelson, Richard R & Pack, Howard, 1999. "The Asian Miracle and Modern Growth Theory," Economic Journal, Royal Economic Society, vol. 109(457), pages 416-436, July.
    4. Westphal, Larry E & Rhee, Yung W & Pursell, Garry, 1979. "Foreign Influences on Korean Industrial Development," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 41(4), pages 359-388, November.
    5. Hobday, Mike, 1995. "East Asian latecomer firms: Learning the technology of electronics," World Development, Elsevier, vol. 23(7), pages 1171-1193, July.
    6. Richard E. Baldwin & Philippe Martin, 1999. "Two Waves of Globalisation: Superficial Similarities, Fundamental Differences," NBER Working Papers 6904, National Bureau of Economic Research, Inc.
    7. Susan M. Collins & Barry P. Bosworth, 1996. "Economic Growth in East Asia: Accumulation versus Assimilation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, pages 135-204.
    8. Pack, Howard & Westphal, Larry E., 1986. "Industrial strategy and technological change : Theory versus reality," Journal of Development Economics, Elsevier, pages 87-128.
    9. Westphal, Larry E, 1990. "Industrial Policy in an Export-Propelled Economy: Lessons from South Korea's Experience," Journal of Economic Perspectives, American Economic Association, pages 41-59.
    10. Gereffi, Gary, 1999. "International trade and industrial upgrading in the apparel commodity chain," Journal of International Economics, Elsevier, pages 37-70.
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    Cited by:

    1. Florian Schaefer & Girum Abebe, 2015. "The case for industrial policy and its application in the Ethiopian cut flower sector," Working Papers 012, Ethiopian Development Research Institute.

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