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New explanations of the economic success of East Asia : Lessons for developing and Eastern European countries

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  • New explanations of the economic success of East Asia
  • Hermes, Niels
  • Department of Economics and Centre for Development Studies


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Title New explanations of the economic success of East Asia
Similar Titles
Sub Title

Lessons for developing and Eastern European countries

Material Type Articles
Author(English)

Hermes, Niels

Publisher

[Groningen]:Department of Economics and Centre for Development Studies

Date 1997-06
Series Title; No CDS Research Report / No. 3
Pages 34
Subject Country Eastern Asia(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Government and Law < General
Holding Department of Economics and Centre for Development

Abstract

The economic success of the East Asian countries has inspired many economists to study the background of their rapid growth. Interestingly, different economists interpret this success in entirely different ways. During the 1970s and an important part of the 1980s advocates of the neoclassical model argued that growth in East Asia was the result mainly of the market mechanism and the emphasis on export promotion in these countries. Especially since the mid-1980s the neoclassical approach was criticised by economists who stressed that government intervention played a crucial role in the process of economic growth. This paper aims at presenting a survey of the arguments recently put forward by the critics of the neoclassical approach to explain the role of government in the economic success of the countries in East Asia. (The rest omitted)