Publication: Rethinking the East Asian Miracle
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Date
2001-06
ISSN
Published
2001-06
Author(s)
Abstract
Initially, the intention of this
book's work, was to take a fresh look at East
Asia's regional experience during the 1990s, and to
expand, and revise as necessary the findings of the World
Bank's "East Asian Miracle", (published in
1993). However, while work began in 1997 - when the East
Asian crisis was only a small, localized cloud over Thailand
- the seriousness of the crisis demonstrated the need to
bring together a number of different perspectives on key
aspects of the East Asian model, and its several country
variants. The book assesses the evolving experience with
industrial policies, in the forms implemented by individual
countries in the region, examines in depth how the Chinese
experience meshes with those of other economies in the
region - a dimension absent in the "East Asian
Miracle" - and, the rich evidence from the 1990s, casts
new light on the relative contribution of export-led
policies, and of import liberalization to growth, while
helping to clarify key issues that influence the choices of
exchange rate policies. Taking into account the realization
that understanding the East Asian development requires
admittance of the political economy of change, of
governance, and of the roles of key institutions, the
contributors to this book, considered each of these
carefully, and offer an economic kaleidoscope on East Asia
that is deep, and analytically rigorous.
Citation
“Stiglitz, Joseph E.; Yusuf, Shahid. 2001. Rethinking the East Asian Miracle. © Washington, DC: World Bank and Oxford University Press. http://openknowledge.worldbank.org/entities/publication/30eb6307-52c0-5024-ba3d-91eeb663a5c3 License: CC BY 3.0 IGO.”