The Rise and Fall of the East Asian Growth System, 1951-2000: International Competitiveness and Rapid Economic Growth

The Rise and Fall of the East Asian Growth System, 1951-2000: International Competitiveness and Rapid Economic Growth

The Rise and Fall of the East Asian Growth System, 1951-2000: International Competitiveness and Rapid Economic Growth

The Rise and Fall of the East Asian Growth System, 1951-2000: International Competitiveness and Rapid Economic Growth

Synopsis

The author examines the long run of economic growth in East Asia from 1945 to the present, assessing the various theories put forward to explain the phenomenon, and appraising the various factors which have contributed to economic growth in East Asia.

Excerpt

There are not many other events in recent history like the rapid economic growth in East Asia that have received so much attention from academics, policy makers, opinion shapers, and the public in general, and created so many scholarly and public policy debates for so long. While the scale of that historical happening is indisputable, what makes the problem of East Asian Growth so enduringly interesting to us is the fact that it has challenged many of the conventional theories in development studies, international political economy, and growth economics, as well as widely held assumptions and predictions in the 1950s and 1960s about Asia's prospects of industrialization, development, and modernization. Also, the views and debates over East Asian Growth have been forced to adjust again and again over time as the whole pattern continued to evolve.

The Asian financial crisis of 1997-8, in my view, symbolized the ending of that historical process in which rapid economic growth was generated and sustained in a unique institutional setting, or growth system. the ending was reflected not only in key historical indicators of economic growth in East Asian countries, but, more importantly, in the declining effectiveness of the growth system itself, which I call β€œinstitutional aging.”

Given the above, a comprehensive look at the overall growth experiences at this historical juncture appeared to be desirable and perhaps more useful and feasible than before. While this book will certainly not end the debates on the model of East Asian Growth, it can, I hope, lift them to a higher level - and that, I suppose, is what the social sciences are all about, if we understand Thomas S. Kuhn (1970) and Imre Lakatos (1978) well.

I wish to thank many people from whom I have intellectually benefited from over the years on this project and beyond. Space here, though, will not allow me to list all of them individually. On the other hand, mapping the network behind one's work runs the risk of the work being unneces sarily categorized into a narrow camp of theories and approaches. However, I do want to record my sincere gratitude to many others who have provided practical support, without which the book would have been impossible: Hazel Bennett, International Labor Organization; Lauren Deslandes, oasis Official; Joshua S. Goldstein, American University; Roopnarine

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.