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New perspectives on East Asian development

Author

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  • Yilmaz Akyuz
  • Ha-Joon Chang
  • Richard Kozul-Wright

Abstract

Conventional explanations of rapid growth in East Asia have focused on the efficient allocation of resources resulting from market-led outward-oriented strategies. This study challenges that approach. East Asian success has centred around the accumulation dynamic both because of its direct importance to the growth process and also because of its close and interdependent linkages with exports. On this basis the study considers the institutions and policies which were used to manage economic rents in support of rapid growth and to ensure a more strategic and orderly integration into the world economy. The study also examines the contribution of regional trade and investment flows to East Asian industrialisation. The potential for replicating similar strategies is considered.

Suggested Citation

  • Yilmaz Akyuz & Ha-Joon Chang & Richard Kozul-Wright, 1998. "New perspectives on East Asian development," Journal of Development Studies, Taylor & Francis Journals, vol. 34(6), pages 4-36.
    • Handle: RePEc:taf:jdevst:v:34:y:1998:i:6:p:4-36
    DOI: 10.1080/00220389808422544
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    Cited by:

    1. Michael A. Landesmann & Robert Stehrer, 2007. "Income Distribution, Technical Change And The Dynamics Of International Economic Integration," Metroeconomica, Wiley Blackwell, vol. 58(1), pages 45-73, February.
    2. Bustillo, Inés & Ocampo, José Antonio, 2003. "Asymmetries and cooperation in the Free Trade Area of the Americas," Series Históricas 7864, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Ha-Joon Chang & Ali Cheema & L. Mises, 2002. "Conditions For Successful Technology Policy In Developing Countries—Learning Rents, State Structures, And Institutions," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 11(4-5), pages 369-398.
    4. Stephanie Seguino, 2005. "Gender Inequality in a Globalizing World," Economics Working Paper Archive wp_426, Levy Economics Institute.
    5. Stephanie Seguino, 2000. "Accounting for Gender in Asian Economic Growth," Feminist Economics, Taylor & Francis Journals, vol. 6(3), pages 27-58.
    6. Prakash Kumar Shrestha Ph.D., 2013. "A Revisit of the East Asian Development Experiences in the Context of South Asia," NRB Working Paper 18/2013, Nepal Rastra Bank, Research Department.
    7. Luciano Boggio, 2003. "A Model of Take‐Off and Fast Growth in Open Economies," Metroeconomica, Wiley Blackwell, vol. 54(2‐3), pages 301-325, May.
    8. Stuart Corbridge, 2002. "Development as freedom: the spaces of Amartya Sen," Progress in Development Studies, , vol. 2(3), pages 183-217, July.
    9. Chris Changwha Chung & Paul W. Beamish, 2005. "The Impact of Institutional Reforms on Characteristics and Survival of Foreign Subsidiaries in Emerging Economies," Journal of Management Studies, Wiley Blackwell, vol. 42(1), pages 35-62, January.
    10. Chang, Ha-Joon, 1998. "Korea: The misunderstood crisis," World Development, Elsevier, vol. 26(8), pages 1555-1561, August.
    11. Thi Anh-Dao Tran & Thi Thanh Binh Dinh, 2014. "FDI inflows and trade imbalances: evidence from developing Asia," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 11(1), pages 147-169, June.
    12. Onaran, Özlem & Galanis, Giorgos, 2012. "Is aggregate demand wage-led or profit-led? National and global effects," Greenwich Papers in Political Economy 15289, University of Greenwich, Greenwich Political Economy Research Centre.
    13. Bruno Venditto, 2004. "The Euromediterranean Free Trade Area: A New Form Of Regional Cooperation?," Development and Comp Systems 0408005, University Library of Munich, Germany.
    14. Özlem Onaran & Giorgos Galanis, 2013. "Income Distribution and Aggregate Demand: A Global Post-Keynesian Model," Working Papers wp319, Political Economy Research Institute, University of Massachusetts at Amherst.
    15. Ahrens, Joachim & Stark, Manuel, 2012. "Unabhängige Organisationen in autoritären Regimes: Widerspruch in sich oder effektives Instrument von Developmental States?," PFH Forschungspapiere/Research Papers 2012/09, PFH Private University of Applied Sciences, Göttingen.
    16. Chang, Ha-Joon, 2000. "The Hazard of Moral Hazard: Untangling the Asian Crisis," World Development, Elsevier, vol. 28(4), pages 775-788, April.
    17. repec:nrb:wpaper:nrbwp182013 is not listed on IDEAS
    18. Jitendra Uttam, 2019. "Beyond Neo-liberalism: Analyzing the ‘Post-Developmental State’ in South Korea," International Studies, , vol. 56(4), pages 236-254, October.
    19. Jackson, Emerson Abraham & Jabbie, Mohamed, 2020. "Import Substitution Industrialization [ISI]: An approach to Global Economic Sustainability," MPRA Paper 102316, University Library of Munich, Germany, revised 03 Jul 2020.
    20. Prakash Kumar Shrestha, 2013. "Economic development in South and East Asia: empirical examination of East Asian Development Model," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 20(2), pages 1-28, December.

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