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Economic development in South and East Asia: empirical examination of East Asian Development Model

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  • Prakash Kumar Shrestha

    (PhD, Deputy Director, Research Department, Nepal Rastra Bank, Baluwatar, Kathmandu, Nepal)

Abstract

In this paper, a comparison is made of the level of economic development between South Asia and East Asia, and the East Asian Development Model (EADM) is analysed as well as empirically examined. Several development indicators reveal that South Asia in general is far behind East Asian countries where some distinctive features of the development process followed in the past were the developmental role of the state, high investment, emphasis on the manufacturing sector, export-led growth and a focus on infrastructure and human capital. Based on an empirical examination, which supports these facts, policymakers in South Asia should take heed of some of these features despite changing circumstances.

Suggested Citation

  • 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.
    • Handle: RePEc:unt:jnapdj:v:20:y:2013:i:2:p:1-28
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    References listed on IDEAS

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    Cited by:

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    2. Neetu Choudhary & Abhijit Ghosh, 2014. "Indo-Nepal economic cooperation: a subregional perspective," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 21(2), pages 23-52, December.
    3. Jaekwon Cha & O. Fiona Yap, 2020. "Challenging the East Asian Development Model: Evidence from South Korea," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 32(1), pages 220-250, January.

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    More about this item

    Keywords

    South Asia; East Asia; economic development; East Asian Development Model;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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