The East Asian Crisis of 1997 and the following economic
meltdown has raised new questions about the role of public policy
in Asian economic growth and the best mix of policies to insure the
survival of economic growth. Although economists agree that
macroeconomic stability, the encouragement of exports and FDI
inflows, and the development of human resources have been important
in East Asian growth, they do not agree on whether industry
specific policies have been useful. The policy experiences of the
countries are diverse and do not show a strong relationship between
policies and success. Bringing together the work of development
economics experts, this book looks at the role of economic policy
in East Asian development, the challenge of the economic meltdown,
and the critical issues raised by that meltdown.
Based on research and conferences at the International Centre
for the Study of East Asian Development in Kitakyushu, Japan, the
book opens with general chapters considering the policies behind
East Asian growth, then discusses the policies of each country in
country specific chapters. Up to date in its discussion, the book
considers the questions raised by the crisis of 1997 from a variety
of perspectives.
General
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