The East Asian Development Experience: The Miracle, the Crisis and the Future
Today East Asia is the richest part of the world outside the old industrial centres of Western Europe and North America. Despite political authoritarianism, human rights violations, corruption, repression of labour unions, gender discrimination and mistreatment of ethnic minorities, the citizens of the East Asian economies have experienced improvements in income and general well-being unparalleled in human history.
In this book, Ha-Joon Chang provides a fresh analysis of this spectacular growth. He considers East Asian economies' unorthodox methods, and their rejection of 'best practice' and so-called Washington Consensus policies. East Asia, he claims, can teach us much about the whole process of economic development. Full of new facts and policy suggestions, this is a lively and unconventional introduction to a global phenomenon.
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Does the East Asian Model Exist?
InfantIndustry Programmes and Export Promotion
The Question of Replicability
The End of the East Asian Model?
Previous Industrial Experiences
Moral Hazard and the Development of Capitalism
Summary and Conclusion
Overinvestment and Crony Capitalism
The East Asian Crisis and the Japanese Stagnation
How Does State Intervention Work in Korea?
Why Does State Intervention Work in Korea?
EXPLAINING FLEXIBLE RIGIDITIES IN EAST ASIA
Some Thoughts on Flexibility
Explaining Flexible Rigidities in East Asia
Natural Resource Endowments
1993 to 1997
EVALUATING THE POSTCRISIS CORPORATE RESTRUCTURING
Restructuring the Chaebols
Assessing the Governance Reform Programme
Some Final Thoughts
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