The Key to the Asian Miracle: Making Shared Growth Credible
- ISBN-10
- 0815723032
- ISBN-13
- 9780815723035
- Category
- Political Science
- Pages
- 216
- Language
- English
- Published
- 2001-06-07
- Publisher
- Brookings Institution Press
- Authors
- Jose Edgardo Campos, Hilton L. Root
Description
"Easily the most informed and comprehensive analysis to date on how and why East Asian countries have achieved sustained high economic growth rates, [this book] substantially advances our understanding of the key interactions between the governors and governed in the development process. Students and practitioners alike will be referring to Campos and Root's series of excellent case studies for years to come." Richard L. Wilson, The Asia Foundation Eight countries in East Asia--Japan, South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, and Indonesia--have become known as the "East Asian miracle" because of their economies' dramatic growth. In these eight countries real per capita GDP rose twice as fast as in any other regional grouping between 1965 and 1990. Even more impressive is their simultaneous significant reduction in poverty and income inequality. Their success is frequently attributed to economic policies, but the authors of this book argue that those economic policies would not have worked unless the leaders of the countries made them credible to their business communities and citizens. Jose Edgardo Campos and Hilton Root challenge the popular belief that East Asia's high performers grew rapidly because they were ruled by authoritarian leaders. They show that these leaders had to collaborate with various sectors of their population to create an environment that was conducive to sustained growth. This required them to persuade the business community that their investments would not be expropriated and to convince the broader population that their short-term sacrifices would be rewarded in the future. Many of the countries achieved business cooperation by creating consultative groups, which the authors call deliberation councils, to enhance accountability and stability. They also obtained popular support through a variety of wealth-sharing measures such as land reform, worker cooperatives, and wider access to education. Finally, to inhibit favoritism and corruption that would benefit narrow interest groups at the expense of broad-based development, these countries' leaders constructed a competent bureaucracy that balanced autonomy with accountability to serve all interests, including the poor. This important book provides useful lessons about how developing and newly industrialized countries can build institutions to implement growth-promoting policies.
Get the book
Other editions
-
- 1996
- 198 pages
- Paperback
- Brookings Institution
Similar books
-
Rethinking the East Asian Miracle
By Joseph E. Stiglitz, Shahid YusufThis volume provides highly illuminating, analytic perspectives on key facets of the East Asian economies.
-
How Asia Works: Success and Failure In the World's Most Dynamic Region
By Joe Studwell“A good read for anyone who wants to understand what actually determines whether a developing economy will succeed.” —Bill Gates, “Top 5 Books of the Year” An Economist Best Book of the Year from a reporter who has spent two ...
-
Tigers Tamed: The End of the Asian Miracle
By Robert GarranAs he traces the dramatic events of late 1997 into 1998, Robert Garran uses firsthand knowledge of Asia and its economics to demonstrate that the miracle was in many ways a myth.
-
How Asia Got Rich: Japan, China and the Asian Miracle
By Edith TerryWe flew to San Francisco, then Honolulu, from Honolulu to Guam and Tokyo. From Tokyo, according to my mother, we flew in a huge zigzag to Hong Kong, Singapore, back up to Manila, and finally south to Jakarta, by way of Garuda Airlines, ...
-
Diverse Development Paths and Structural Transformation in the Escape from Poverty
By Martin Andersson, Tobias AxelssonThis volume analyzes the experiences of developing countries in Asia, Latin America, and Sub-Saharan Africa, and examines how they might catch up.
-
The East Asian Miracle and Information Technology: Strategic Management of Technological Learning
By Nagy HannaWorld Bank Discussion Paper No. 326.Draws on the successful experiences of five East Asian economies--Japan, the Republic of Korea, Singapore, Taiwan (China), and Hong Kong--to show how they have exploited the opportunities made possible by ...
-
The Role of Government in East Asian Economic Development: Comparative Institutional Analysis
By Masahiko Aoki, Hyung-Ki Kim, Masahiro Okuno-FujiwaraThey are distinct only in their judgement of the extent to which market failures have been, and ought to be, remedied by direct government intervention.This collection of essays suggests a breakthrough, third view: the market-enhancing view ...
-
The Miracle: The Epic Story of Asia's Quest for Wealth
By Michael SchumanAn engaging historical and cultural account of Asia's economic rise - looking at nine of the key players and major figures in all the key Asian countries, including China, India, Korea, Malaysia, Singapore, Taiwan, and Japan.
-
Asia's Turning Point: An Introduction to Asia's Dynamic Economies at the Dawn of the New Century
By Ivan Tselichtchev, Philippe DebrouxThis book is a must for business people worldwide, for all those who study the region in colleges and business schools, for people engaged in various international activities and, finally, for all those who want learn more about our world ...
-
Capital and Collusion: The Political Logic of Global Economic Development
By Hilton L. RootWhy does capital formation often fail to occur in developing countries? Capital and Collusion explores the political incentives that either foster growth or steal nations' growth prospects.