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The big push, industrialization and international trade : The role of exports

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Frame of Image cy. The paper adopts an open economy version of the wellknown big push model. Thus, it recovers neoclassical accounts of industrialization through exports, complementing previous literature, which tends to show the existence of the big push, but is scarce on trade mechanisms to produce it. The model fits well with some stylized facts of the industrializations in East and Southeast Asia. I also apply it to a comparison of the education policies of East Asia and Latin America. D 2005 Elsevier B.V. All rights reserved.
JEL classification: F12; O14; O24 Keywords: Export promotion; Industrialization; Big push; Coordination failure
1. Introduction It may be startling, for anyone acquainted only with very recent economic history, to realize that four decades ago South Korea and Taiwan were very poor economies. In 1960, South Korea’s GDP per capita was lower than Mozambique’s, while Taiwan’s stood below most Latin American countries. Of course, in the next three decades the
* Tel.: +1 315 443 3802; fax: +1 315 443 3717. E-mail address: vmtrinda@maxwell.syr.edu. 0304-3878/$ - see front matter D 2005 Elsevier B.V. All rights reserved. doi:10.1016/j.jdeveco.2004.08.006
V. Trindade / Journal of Development Economics 78 (2005) 22–48
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two Asian tigers grew at 8.4% and 7.7%, respectively, in the process creating industrialized economies. Given their success, many have asked what triggered their spectacular industrializations. Certainly, part of the consensus story is the dramatic increase


Full Text
Title The big push, industrialization and international trade
Similar Titles
Sub Title

The role of exports

Material Type Reports
Author(English)

Trindade, Vitor

Publisher

elsevier

Date 2004
Journal Title; Vol./Issue Journal of Development Economics:78
Pages 27
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Industry and Technology < Science/Technology

Abstract

This paper analyzes the blateQ industrializations of South Korea and Taiwan, and how they can be produced by an export promotion policy. The paper adopts an open economy version of the wellknown big push model. Thus, it recovers neoclassical accounts of industrialization through exports, complementing previous literature, which tends to show the existence of the big push, but is scarce on trade mechanisms to produce it. The model fits well with some stylized facts of the industrializations in East and Southeast Asia. I also apply it to a comparison of the education policies of East Asia and Latin America. (The rest omitted)