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Growth Theories in Light of the East Asian Experience (Hardcover, New)
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Growth Theories in Light of the East Asian Experience (Hardcover, New)
Series: (NBER) National Bureau of Economic Research East Asia Seminar on Economics
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The contributors to this volume analyze the growth experiences of
Japan, Korea, China, Hong Kong, Singapore, and Taiwan in light of
the recently developed endogenous growth theory to provide an
understanding of the economic boom in East Asia. The theory
explored in this volume attributes the phenomenal economic success
of these countries to, among other factors, the role of an outward
orientation - a focus on exporting rather than on protecting home
markets. In addition, the importance of exchange rate behavior, of
the supportive role of government policy, and of the accumulation
and promotion of physical and human capital are explored in detail.
This collection also makes significant contributions to recent work
examining the extent to which growth in each country became
self-sustaining once it began. This fourth volume in the NBER-East
Asia Seminar on Economics series demonstrates the relevance of
endogenous growth theory for studying this important region and
will be invaluable for economists and for those interested in East
Asian affairs.
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