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Interdependency, Decoupling, and Dependency

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  • Yan Liang

Abstract

After the devastating 1997-98 Asian financial crisis, Asian economies have tried to learn the lessons and orchestrate an effective development strategy in the midst of increasing global capital flows. In this paper, we attempt to identify the development strategy of Asian countries and the implications thereof for their economies and for the rest of the world. We argue that neither the "interdependency" theory nor the "decoupling" thesis adequately explains the current Asian development path. Instead, we argue that the dependency theory may shed light on the recent Asian development experience. By showing this, we highlight the fact that the ever growing financial power has, to a large degree, shaped the "real," productive side of the economy in Asian countries.

Suggested Citation

  • Yan Liang, 2010. "Interdependency, Decoupling, and Dependency," International Journal of Political Economy, Taylor & Francis Journals, vol. 39(1), pages 28-53.
    • Handle: RePEc:mes:ijpoec:v:39:y:2010:i:1:p:28-53
    DOI: 10.2753/IJP0891-1916390102
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    Cited by:

    1. Li, Ying & Beeton, R.J.S. & Halog, Anthony & Sigler, Thomas, 2016. "Evaluating urban sustainability potential based on material flow analysis of inputs and outputs: A case study in Jinchang City, China," Resources, Conservation & Recycling, Elsevier, vol. 110(C), pages 87-98.

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