Catalogue

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The East Asian miracle : economic growth and public policy.
imprint
New York : Oxford University Press, c1993.
description
xvii, 389 : ill. ; 24 cm.
ISBN
0195209931
format(s)
Book
Holdings
More Details
imprint
New York : Oxford University Press, c1993.
isbn
0195209931
general note
"Published for the World Bank."
catalogue key
405695
 
Includes bibliographical references (p. [369]-389).
A Look Inside
Full Text Reviews
Appeared in Choice on 1994-10:
This volume presents a thorough and comprehensive study of the economic performance of eight countries in East Asia, the Four Tigers (Hong Kong, South Korea, Singapore, and Taiwan) and three newly industrializing economies (Indonesia, Malaysia, and Thailand). The World Bank teams of specialists examine in depth various aspects of these economies--growth, equity and economic change, macroeconomic stability and export growth, institutional factors, capital accumulation, and resources used--in an attempt to analyze the East Asian miracle of rapid economic growth. In doing so, the research teams raise important questions about the applicability and relevance of the experiences of these successful economies to other developing nations. The latest available statistical data are presented in impressive graphs. Supported by proper citations from the literature, the study is written in an easy-to-read style. Highly useful for both graduate and undergraduate students in economic development in general and Asian studies in particular. Also useful to professional economists and policy makers in developing countries to better understand the crucial factors that affect economic growth. J. S. Uppal; SUNY at Albany
Reviews
Review Quotes
"A comprehensive work, distilling decades of research on the most dynamic region in the world economy."--Morning Star
"A most impressive work... And what makes it particularly impressive is the way it eschews any ideological baggage. It clinically and fairly analyses what actually happened."--The Weekend Australian
"An excellent and comprehensive overview of one of the world's greatesteconomic success stories."--Stephen D. Cohen, School of International Service,American University
"A thorough and comprehensive study of the economic performance of eight countries in East Asia...impressive graphs....Highly useful for both graduate and undergraduate students in economic development in general and Asian studies in particular."--Choice
"A very informative volume on economic development in East Asia...Students found it helpful. It has many useful charts and figures, as well as some basic theoretical and policy arguments....I think the book offers a good text for courses in related areas. I recommend it to instructors whoteach classes about East Asia and development."--Xiaobo Lu, Columbia University
"Excellent review of material on economic growth in Asia. Well written andwell illustrated with graphs."--Raj Aggarwal, John Carroll University
the really interesting thing is that the report found that the Tiger economies, contrary to experience in other regions, have combined economic growth with "unusually low and declining levels of inequality"
"The study is well-produced, in the style of the best American economicstextbooks, and is well-linked to the academic literature; it will be useful forpostgraduate teaching."--The Economic Journal
This item was reviewed in:
Choice, October 1994
To find out how to look for other reviews, please see our guides to finding book reviews in the Sciences or Social Sciences and Humanities.
Summaries
Main Description
The extraordinary growth enjoyed over the last several decades by many East Asian countries has amounted to nothing less than an economic miracle. Employing unorthodox policies, Hong Kong, Indonesia, Japan, Malaysia, the Republic of Korea, Singapore, Taiwan, and Thailand have all produceddramatic results with far-reaching improvements in human welfare and income distribution, leading many to ask whether a similar achievement can be duplicated elsewhere. Written for the nonspecialist, this World Bank Policy Research Report--the first in an important new series--discusses in detail the means by which these high-performing Asian economies (HPAEs) realized their staggering success between 1965 and 1990. Examining how these countries stabilized theireconomies with sound development programs that led to fast growth, the book also shows how they shared the new prosperity by making income distribution more equitable. The book makes clear how the HPAEs promoted rapid capital accumulation by making banks more reliable and encouraging high levels of domestic savings, while universal primary schooling and better primary and secondary education quickly increased their skilled labor forces. Also included areillustrative examples of productive agricultural programs, modest tax policies, the modification of price distortions, foreign technology and investment, and the cooperation of government and private enterprise. Exposing to a broad audience the revolutionary process that transformed East Asia into the collection of economic juggernauts that it is today, this provocative World Bank report offers wisdom for today's up-and-coming markets, highlighting the policies that will make a difference as well as thosethat, despite their effectiveness in the Orient, could prove disastrous elsewhere.
Main Description
The extraordinary growth enjoyed over the last several decades by many East Asian countries has amounted to nothing less than an economic miracle. Employing unorthodox policies, Hong Kong, Indonesia, Japan, Malaysia, the Republic of Korea, Singapore, Taiwan, and Thailand have all produced dramatic results with far-reaching improvements in human welfare and income distribution, leading many to ask whether a similar achievement can be duplicated elsewhere. Written for the nonspecialist, this World Bank Policy Research Report--the first in an important new series--discusses in detail the means by which these high-performing Asian economies (HPAEs) realized their staggering success between 1965 and 1990. Examining how these countries stabilized their economies with sound development programs that led to fast growth, the book also shows how they shared the new prosperity by making income distribution more equitable. The book makes clear how the HPAEs promoted rapid capital accumulation by making banks more reliable and encouraging high levels of domestic savings, while universal primary schooling and better primary and secondary education quickly increased their skilled labor forces. Also included are illustrative examples of productive agricultural programs, modest tax policies, the modification of price distortions, foreign technology and investment, and the cooperation of government and private enterprise. Exposing to a broad audience the revolutionary process that transformed East Asia into the collection of economic juggernauts that it is today, this provocative World Bank report offers wisdom for today's up-and-coming markets, highlighting the policies that will make a difference as well as those that, despite their effectiveness in the Orient, could prove disastrous elsewhere.
Table of Contents
The Research Team
Acknowledgments
Definitions
Overview: The Making of a Miraclep. 1
Growth, Equity, and Economic Changep. 27
Public Policy and Growthp. 79
Macroeconomic Stability and Export Growthp. 105
An Institutional Basis for Shared Growthp. 157
Strategies for Rapid Accumulationp. 191
Using Resources Efficiently: Relying on Markets and Exportsp. 259
Policies and Pragmatism in a Changing Worldp. 347
Bibliographic Notep. 369
Table of Contents provided by Blackwell. All Rights Reserved.

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