By Helen Hughes
This publication examines the industrial luck of the newly industrializing and near-industrializing economies of East Asia. the prestigious crew of authors covers more than a few subject matters in a comparative point of view, and identifies classes of outrage to monetary, political, and social questions through the constructing international. 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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Innumerable case studies demonstrate that economic behaviour responds to incentives, both positive and negative, in every part of the world. Thriving black markets in South Asia and Africa are testament to that. One could also question whether the attributes of diligence, hard work and educational attainment are primarily exogenous. Surely attitudes toward work depend as much as anything on the availability of jobs and the reward given for effort, both of which are generally greater in East Asia than in most other developing countries.
The policy lessons that derive from the experiences of the East Asian countries are simple and clear-cut, and for that reason are all too readily ignored or dismissed. HOLLIS CHENERY INDUSTRIALIZATION AND GROWTH: ALTERNATIVE VIEWS OF EAST ASIA East Asia encompasses a variety of post-war development experiences. It is best known for its four super-exporters - Hong Kong, Republic of Korea, Singapore and Taiwan - which have developed an effective pattern of outward-oriented industrialization. It also includes countries such as Malaysia, Thailand and Indonesia, which have been quite successful with more traditional strategies of resource-based development, as well as China, until recently an example of autarkic growth.
G. Westphal 1982). There is, however, overwhelming evidence that entrepreneurship, in one form or another, abounds almost everywhere, but that in vast parts of the developing world it is misdirected in large part by the government. CONCLUSIONS Doing what comes naturally? The quote from Adam Smith at the head of this paper seems an apposite description of how things worked in Hong Kong, but not elsewhere. In addition to providing 'peace, easy taxes and a tolerable administration of justice', governments in the East Asian countries are found pushing and pulling (in varying degrees) all the levers of industrial policy at their disposal, but to what effect?
Achieving Industrialization in East Asia by Helen Hughes