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Author: T. J. Pempel Publisher: Cornell University Press ISBN: 0801455014 Category : Political Science Languages : en Pages : 280
Book Description
Two Crises, Different Outcomes examines East Asian policy reactions to the two major crises of the last fifteen years: the global financial crisis of 2008–9 and the Asian financial crisis of 1997–98. The calamity of the late 1990s saw a massive meltdown concentrated in East Asia. In stark contrast, East Asia avoided the worst effects of the Lehman Brothers collapse, incurring relatively little damage when compared to the financial devastation unleashed on North America and Europe. Much had changed across the intervening decade, not least that China rather than Japan had become the locomotive of regional growth, and that the East Asian economies had taken numerous steps to buffer their financial structures and regulatory regimes. This time Asia avoided disaster; it bounced back quickly after the initial hit and has been growing in a resilient fashion ever since. The authors of this book explain how the earlier financial crisis affected Asian economies, why government reactions differed so widely during that crisis, and how Asian economies weathered the Great Recession. Drawing on a mixture of single-country expertise and comparative analysis, they conclude by assessing the long-term prospects that Asian countries will continue their recent success.
Author: T. J. Pempel Publisher: Cornell University Press ISBN: 0801455014 Category : Political Science Languages : en Pages : 280
Book Description
Two Crises, Different Outcomes examines East Asian policy reactions to the two major crises of the last fifteen years: the global financial crisis of 2008–9 and the Asian financial crisis of 1997–98. The calamity of the late 1990s saw a massive meltdown concentrated in East Asia. In stark contrast, East Asia avoided the worst effects of the Lehman Brothers collapse, incurring relatively little damage when compared to the financial devastation unleashed on North America and Europe. Much had changed across the intervening decade, not least that China rather than Japan had become the locomotive of regional growth, and that the East Asian economies had taken numerous steps to buffer their financial structures and regulatory regimes. This time Asia avoided disaster; it bounced back quickly after the initial hit and has been growing in a resilient fashion ever since. The authors of this book explain how the earlier financial crisis affected Asian economies, why government reactions differed so widely during that crisis, and how Asian economies weathered the Great Recession. Drawing on a mixture of single-country expertise and comparative analysis, they conclude by assessing the long-term prospects that Asian countries will continue their recent success.
Author: José Edgardo L. Campos Publisher: Brookings Institution Press ISBN: Category : Business & Economics Languages : en Pages : 224
Book 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.
Author: Kevin Watkins Publisher: Oxfam Pub ISBN: Category : Business & Economics Languages : en Pages : 162
Book Description
Kevin Watkins analyses the manner in which the economies of East Asia have attained high economic growth rates and managed to share the prosperity widely. A caveat is included as some groups have been excluded from these benefits on ethnic grounds.
Author: Shiro Armstrong Publisher: ANU E Press ISBN: 1921666633 Category : Education Languages : en Pages : 290
Book Description
This volume addresses important issues to do with access to higher education and different models of its financing in the East Asia region. It is enriched by diverse perspectives from vastly different starting points and by the historical and institutional settings in the region. The issues are set out in the context of the value of higher education in economic development and how it contributes to the capacities to adopt and adapt to new technologies and undertake institutional innovation. The established and well-functioning higher education loan and financing systems, such as those in Australia, and the experience of different systems tried - both in East Asia and in the United States - are brought to bear in this volume.
Author: Linda Glawe Publisher: Springer Nature ISBN: 3030871282 Category : Business & Economics Languages : en Pages : 356
Book Description
In light of the growing global economic importance of East Asia, this book analyzes and compares the extraordinary development paths and strategies of Japan, South Korea, and China. It examines both the factors that enabled these countries’ prolonged periods of high-speed economic growth, and the reasons for their subsequent “cool-downs.” In addition, the book illustrates how their development strategies served as role models for one another, and what current and future developing countries can learn from the East Asian success stories. This book will appeal to scholars and students of economics and development studies with an interest in the East Asian development model.
Author: Takatoshi Ito Publisher: University of Chicago Press ISBN: 0226386988 Category : Political Science Languages : en Pages : 324
Book Description
The contributors to this volume analyze the growth experiences of Japan, Korea, China, Hong Kong, Singapore, and Taiwan in light of the recently developed endogenous growth theory to provide an understanding of the economic boom in East Asia. The theory explored in this volume attributes the phenomenal economic success of these countries to, among other factors, the role of an outward orientation—a focus on exporting rather than on protecting home markets. In addition, the importance of exchange rate behavior, of the supportive role of government policy, and of the accumulation and promotion of physical and human capital are explored in detail. This collection also examines the extent to which growth in each country became self-sustaining once it began. Demonstrating the relevance of endogenous growth theory for studying this important region, this fourth volume in the NBER-East Asia Seminar on Economics series will be of interest to observers of East Asian affairs.
Author: Mr.Michael Sarel Publisher: International Monetary Fund ISBN: 1451852088 Category : Business & Economics Languages : en Pages : 38
Book Description
This paper examines the different arguments raised by the studies that addressed the East Asian growth experience. The original arguments presented in this paper are all on the negative side, highlighting problems associated with some of the possible explanations for the East Asian miracle. The paper concentrates mainly on four dimensions of the debate about the East Asian growth experience: (i) The nature of economic growth intensive or extensive?; (ii) The role of public policy and of selective interventions; (iii) The role of high investment rates and a strong export orientation as possible engines of growth; and (iv) The importance of the initial conditions and their relevance for policy.
Author: Joe Studwell Publisher: Open Road + Grove/Atlantic ISBN: 0802193471 Category : Business & Economics Languages : en Pages : 434
Book Description
“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 decades in the region, and who the Financial Times said “should be named chief myth-buster for Asian business.” In How Asia Works, Joe Studwell distills his extensive research into the economies of nine countries—Japan, South Korea, Taiwan, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, and China—into an accessible, readable narrative that debunks Western misconceptions, shows what really happened in Asia and why, and for once makes clear why some countries have boomed while others have languished. Studwell’s in-depth analysis focuses on three main areas: land policy, manufacturing, and finance. Land reform has been essential to the success of Asian economies, giving a kick-start to development by utilizing a large workforce and providing capital for growth. With manufacturing, industrial development alone is not sufficient, Studwell argues. Instead, countries need “export discipline,” a government that forces companies to compete on the global scale. And in finance, effective regulation is essential for fostering, and sustaining growth. To explore all of these subjects, Studwell journeys far and wide, drawing on fascinating examples from a Philippine sugar baron’s stifling of reform to the explosive growth at a Korean steel mill. “Provocative . . . How Asia Works is a striking and enlightening book . . . A lively mix of scholarship, reporting and polemic.” —The Economist
Author: T. J. Pempel
Author: T. J. Pempel
Author: Michael T. Skully
Author: José Edgardo L. Campos
Author: 
Author: Kevin Watkins
Author: Shiro Armstrong
Author: Linda Glawe
Author: Takatoshi Ito
Author: Mr.Michael Sarel
Author: Joe Studwell