Lessons from East Asia

by Leipziger, Danny M.

• ISBN13: 9780472087228
• ISBN10: 0472087223
• Edition: Reprint
• Format: Paperback
• Copyright: 2001-01-01
• Publisher: Univ of Michigan Pr

Summary

This compilation of case studies and cross-country essays focuses on the role of public policy in the experience of East Asian economies. A major theme running through the volume is regional learning and regional contagion--the spread of that learning. Beginning with the model and experience of Japan and continuing with the impressive achievements of countries originally considered unviable in the 1950s and 1960s, like Korea and Taiwan, contributors demonstrate how regional policy lessons permeated borders easily. The 1980s brought further lessons and flows of capital to the second generation of rapid industrializers. And the 1990s have seen regional contagion benefit new aspirants like Vietnam. As the chapters cumulatively reveal, however, the transferability of lessons depends on the institutional framework in which policy is formulated, the consistency of policy, and the quality of implementation. Part 1 includes the case studies for the first generation of rapidly developing East Asian economics--the tigers--while Part 2 incorporates the later generation success stories--the cubs--plus the Philippines, a country only now beginning to show significant progress. Part 3 includes cross-country essays on public investment, foreign direct investment, and cross-country patterns that synthesize the lessons learned and propose actions for other development aspirants to pursue. The essays aim to fill two major gaps--the paucity of country-specific work on the institutional side of development policy and the failure to explain the mixed record of industrial policies in East Asia. The volume will appeal to students, scholars, and policymakers in development economics. Danny M. Leipziger is Lead Economist, Latin America Region, World Bank. This title was formally part of the Studies in International Trade Policy Series, now called Studies in International Economics.

Table of Contents

Preface	ix
An Overview of East Asian Experience	1	(32)
Danny M. Leipziger
Vinod Thomas
Part 1. The Tigers of East Asia	33	(244)
Hong Kong: A Unique Case of Development	35	(48)
Leung Chuen Chau
Taiwan, China: Policies and Institutions for Rapid Growth	83	(72)
Carl J. Dahlman
Ousa Sananikone
Korea: A Case of Government-Led Development	155	(58)
Kim Kihwan
Danny M. Leipziger
Singapore: Public Policy and Economic Development	213	(64)
Teck-Wong Soon
C. Suan Tan
Part 2. The Cubs of East Asia	277	(204)
Malaysia: Growth, Equity, and Structural Transformation	279	(66)
Ismail Muhd Salleh
Saha Dhevan Meyananthan
Thailand: The Institutional and Political Underpinnings of Growth	345	(42)
Scott R. Christensen
David Dollar
Ammar Siamwalla
Pakorn Vichyanond
Indonesia: Development Transformation and the Role of Public Policy	387	(56)
Amar Bhattacharya
Mari Pangestu
The Philippines: Three Decades of Lost Opportunities	443	(38)
Homi J. Kharas
Part 3. Cross-Country Studies	481	(88)
Government Policies and Productivity Growth: Is East Asia an Exception?	483	(28)
Vinod Thomas
Yan Wang
Foreign Direct Investment in East Asia	511	(30)
Maxwell J. Fry
Common Foundations of East Asian Success	541	(28)
Peter A. Petri
Contributors	569	(2)
Index	571