By Helen Hughes
This publication examines the commercial good fortune of the newly industrializing and near-industrializing economies of East Asia. the celebrated staff of authors covers a number of subject matters in a comparative point of view, and identifies classes of outrage to financial, political, and social questions through the constructing international. 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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Extra resources for Achieving Industrialization in East Asia
The East Asian data seem to indicate a positive relation between growth and equality, but that is not borne out in the broader sample of countries. Income is distributed more evenly in Sri Lanka, for example, than in any East Asian country, save Taiwan. That has led Sen (1981:309) to suggest that 'there is an important similarity between the two strategies [Sri Lanka's, on the one hand, and Taiwan-Korea's, on the other]'. It is only a matter of means: 'While one relies on the successfully fostered growth and dynamism of the encouraged labour market, the other gives the government a more direct role as a provider of provisions'.
Since no single framework seems to fit the range of East Asian experience and available data, I will draw on models from different points in the spectrum. This approach can be described as the method of model-based comparisons. Perhaps the best-known example is the series of country studies stemming from Solow's (1957) neo-classical growth equation, which is taken up first. The drawback to adopting a single analytical framework is that it limits the range of questions and initial conditions that can be explored.
1 The first two models are close to the neo-classical and structuralist ends of Little's spectrum and therefore tend to focus on different aspects of development. Each is applied to a range of semi-industrial countries. The third model incorporates a mixture of neo-classical and structural specifications in order to simulate the effects of alternative policies in a given country. STRUCTURAL TRANSFORMATION East Asian countries can be regarded as successes as much for the efficient ways in which they have transformed their economic structures as for the rapid rate of growth that was maintained during the process.
Achieving Industrialization in East Asia by Helen Hughes