New PDF release: Achieving Industrialization in East Asia

By Helen Hughes

ISBN-10: 0511552262

ISBN-13: 9780511552267

ISBN-10: 0521111919

ISBN-13: 9780521111911

ISBN-10: 0521351294

ISBN-13: 9780521351294

This e-book examines the industrial luck of the newly industrializing and near-industrializing economies of East Asia. the prestigious crew of authors covers a number of themes in a comparative standpoint, and identifies classes of outrage to financial, political, and social questions in the course of 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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It may also be that with real wages rising faster than anywhere else in the world, workers are reluctant to change a system that has served them reasonably well. One area in which government involvement clearly violates neoclassical tenets is public ownership of the means of production. Until its recent takeover of two failing banks, Hong Kong was the only East Asian country to confine its ownership to utilities and the like. In the other countries, public ownership is common in banking and various capital-intensive intermediate goods industries, including steel, petroleum, petrochemicals, fertilizers and heavy chemicals.

Economic Development 29 unclear; hence it is not always easy to know when government is fulfilling its minimal role and when it is encroaching on what neoclassical economists would consider the legitimate domain of private markets. These ambiguities notwithstanding, it appears that the East Asian countries have generally fulfilled the minimal functions of government reasonably well. Most of the countries have been at peace during the greater part of the past three decades, though there have been on-going clashes with internal and external insurgent forces in the Southeast Asian countries.

This is no mean feat in itself, but when compounded by the complex task of having to anticipate and offset the market distortions that result from dirigiste strategies of industrialization, the burden on government is all that much greater. Little wonder then that, after sifting through the accumulated historical evidence on 100 years of development in forty-two contemporary developing countries, Reynolds (1983:976) concluded that 'My hypothesis is that the single most important explanatory variable [in economic development] is political organization and the administrative competence of government'.

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Achieving Industrialization in East Asia by Helen Hughes

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