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Developing countries in East Asia recorded remarkable economic
growth until the Asian financial crisis erupted in mid-1997.
Although several countries experienced devastating setbacks, most
of them recovered to achieve reasonable rates of economic growth
over the next few years. Sound macroeconomic management,
export-oriented policies, and the availability of skilled and
low-wage labour are among the factors that contributed to the rapid
economic growth before the crisis and the recovery thereafter.
Especially noteworthy in this regard is the role played by foreign
direct investment (FDI). This comprehensive book identifies the
factors that contributed to the expansion of FDI inflows in East
Asia and the factors that enabled recipient countries to utilize
FDI effectively. It includes detailed case studies on China, South
Korea, Taiwan, Indonesia, Malaysia, the Philippines, Singapore,
Thailand and Vietnam. Also included is a comparative study of
investing firms headquartered in the United States, Japan and Hong
Kong. The authors conclude that social stability, clear and
effective policy implementation and corporate governance are all
key factors in reaping economic success from FDI.
Developing countries in East Asia recorded remarkable economic
growth until the Asian financial crisis erupted in mid-1997.
Although several countries experienced devastating setbacks, most
of them recovered to achieve reasonable rates of economic growth
over the next few years. Sound macroeconomic management,
export-oriented policies, and the availability of skilled and
low-wage labour are among the factors that contributed to the rapid
economic growth before the crisis and the recovery thereafter.
Especially noteworthy in this regard is the role played by foreign
direct investment (FDI). This comprehensive book identifies the
factors that contributed to the expansion of FDI inflows in East
Asia and the factors that enabled recipient countries to utilize
FDI effectively. It includes detailed case studies on China, South
Korea, Taiwan, Indonesia, Malaysia, the Philippines, Singapore,
Thailand and Vietnam. Also included is a comparative study of
investing firms headquartered in the United States, Japan and Hong
Kong. The authors conclude that social stability, clear and
effective policy implementation and corporate governance are all
key factors in reaping economic success from FDI.
The ASEAN Economic Community (AEe constitutes the most ambitious
programme of economic cooperation in the developing world. Its goal
is to create no less than a free flow of goods, services, foreign
direct investment, and skilled labour, as well as a freer flow of
capital, throughout the region. Implementing this agenda will be
technically and politically difficult. Hence, understanding the
potential economic "payoff" is of the essence. The goal of this
book is to assess empirically the likely economic effects of the
AEC on the ASEAN Member States and associated stakeholders. It
mobilizes a number of techniques to do so, and finds that the
likely effects will be large, even greater than the anticipated
effects of the Single Market Program in Europe, for example. The
AEC will help the region improve competitiveness, facilitate the
creation of production networks, foster the diffusion of "best
practices," and help ASEAN project its interests more effectively
in an increasingly integrated, global economy.
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