Achieving Industrialization in East Asia (Trade and by Helen Hughes

By Helen Hughes

This ebook examines the commercial good fortune of the newly industrializing and near-industrializing economies of East Asia. the celebrated staff of authors covers more than a few subject matters in a comparative viewpoint, and identifies classes of shock to fiscal, political, and social questions during the constructing global. participants: 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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Extra info for Achieving Industrialization in East Asia (Trade and Development)

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A country growing at the rate of the four East Asian NICs doubles its real per capita income within a decade; hence for real income of the poorest not to rise, their share in the nation's income would have to fall by half in one decade. Of course when growth is slow, even a small slip in the income share of the poorest can be devastating. 8. All eight rank in the top half of the sample, six are in the top third, and the four NICs take all the first-place ribbons. Quality of life While poverty has not diminished everywhere, there is evidence that the indicators of 'quality of life' have improved in most developing countries (Morawetz 1977; Morris 1979).

That is evident in East Asia, and in most other parts of the developing and industrial world, and is after all the main tenet of neo-classical economics. Are the East Asian countries more successful than other countries because they give relatively more scope to the market, or because they have a superior culture, or alternatively because their governments are more authoritarian and more dedicated to growth? The answer is probably 'yes'; all these were the tumblers in the combination lock that would bring about unparalleled rates of growth.

Iv) Pre-conditions Some have suggested that part of the explanation of the East Asian countries' relative success is that they simply got a headstart. The facts, however, do not bear this out. All, with the exception of Thailand, were under colonial rule until the end of the Second World War. The Republic of Korea alone experienced some industrialization during the colonial period, but that was mostly in what was to become North Korea. Both Taiwan and the Republic of Korea are sometimes regarded as having had a more favourable colonial experience, in terms of economic progress, than other countries, though Singapore and Malaysia were undoubtedly the richest at the end of the war.

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