By Helen Hughes
This e-book examines the industrial luck of the newly industrializing and near-industrializing economies of East Asia. the prestigious workforce of authors covers quite a number themes in a comparative viewpoint, and identifies classes of shock to monetary, political, and social questions during the constructing international. members: James Riedel, Hollis Chenery, Seiji Naya, Thomas G. Parry, Robert Wade, Arnold C. Harberger, Deepak Lal, Ryokichi Hirono, Stephen Haggard, J.A.C. Mackie, William J. O'Malley.
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Additional info for Achieving Industrialization in East Asia
The factors affecting the relations between growth and structural change are outlined later in the paper. Transformation is most rapid when shifts in internal demand towards manufactures are augmented by similar changes in the composition of trade as in the Republic of Korea, Taiwan, Brazil and Turkey.
The main point, however, is that whatever headstart toward industrialization the East Asian countries had in 1950, it should by 1985 have been more than matched in most developing countries. ) The role of government (i) The minimal role It was noted at the beginning of this paper that the interpretation of East Asian success as a validation of neo-classical principles at work in developing countries has been called into question. The discovery that governments are deeply involved directly and indirectly in economic affairs, even in the most successful countries, is reason enough for some to reject the neo-classical interpretation, for all too often neo-classical doctrine is equated with laissez-faire.
Effective protection rates were generally higher, and reliance on quantitative restrictions greater, than elsewhere in East Asia. 3). Nevertheless, the weight of the import substitution regime was simply too great for export expansion to have the same growth effects that it had elsewhere. (iii) Other involvement Labour markets in East Asia, it was noted above, are generally freer than in many other developing countries. To some degree this is the consequence of a policy of regulating and restricting labour union activity.
Achieving Industrialization in East Asia by Helen Hughes