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Development Strategy and the Role of Government Policies: Reconsidering the East Asian Experience

In: New Development Strategies

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  • Koichi Ohno

Abstract

Until recently, government intervention in the process of economic development was not seen in a positive light in debates on the successful industrialization experience of East Asia. Rather, under the growing dominance of neoclassical development economics the role of markets was emphasized. However, the naïve neoclassical explanation is now being questioned as a result of more careful analyses of the East Asian experience, together with the lack of success with structural adjustment programmes in developing countries in other regions and with marketization schemes in the former centrally planned economies. Many commentators have reconsidered the part played by government in economic development and spoken positively of the rationality of government intervention in markets.

Suggested Citation

  • Koichi Ohno, 2004. "Development Strategy and the Role of Government Policies: Reconsidering the East Asian Experience," Palgrave Macmillan Books, in: Akira Kohsaka (ed.), New Development Strategies, chapter 7, pages 134-152, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52360-9_7
    DOI: 10.1057/9780230523609_7
    as

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