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‘The East Asian Miracle’ Study: Does the Bell Toll for Industrial Strategy?

In: Learning from the Asian Tigers

Author

Listed:
  • Sanjaya Lall

    (University of Oxford)

Abstract

The World Bank’s East Asian Miracle study1 has been anticipated with considerable interest by the development community. It was intended (not least by the Japanese government that financed it) to be an objective re-examination of the role of government interventions in economic, particularly industrial, development. It reflected a widespread unease that the Bank was too strongly committed to a neoliberal view of the development process.2 This approach evolved over the 1980s, drawing mainly upon evidence from East Asia, and fuelled by a shift in mainstream economics and political perceptions in the leading developed countries. It formed the basis of the Bank’s subsequent lending and policy advice, and was at the core of the structural adjustment programs that have shaped policy in many developing countries. This review confines itself to the study’s analysis of industrial policy, concentrating on the approach and the analysis of the established NIEs (the ‘Four Tigers’).

Suggested Citation

  • Sanjaya Lall, 1996. "‘The East Asian Miracle’ Study: Does the Bell Toll for Industrial Strategy?," Palgrave Macmillan Books, in: Learning from the Asian Tigers, chapter 4, pages 107-123, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-38989-2_4
    DOI: 10.1057/9780230389892_4
    as

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