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Industrialization Meets Globalization : Uncertain Reflections on East Asian Experience

Author

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  • Westphal, Larry E.

    (Swarthmore College, Department of Economics)

Abstract

The efficacy of export-led industrialization in the hyper-successful East Asian economies depended in no small measure on the forces that drove globalization. These forces fueled transfers of technology in unprecedented volumes and by innovative means in a variety of industries, including those at the frontiers of global technological change. The successful exploitation of these transfers would not have been possible without purposeful, aggressive actions of the part of the recipient firms in order to realize the increased technological capabilities that they enabled. Firms were incited to undertake these activities by conducive, neoclassical policies which were crucially augmented with selective interventions that fostered rapid technological development. Owing to significant uncertainties about the future course of the global economy, comprehension of the ingredients of past success does not suffice to state the recipe for future success, but it is sufficient to identify the key areas of concern for future policy making.

Suggested Citation

  • Westphal, Larry E., 2000. "Industrialization Meets Globalization : Uncertain Reflections on East Asian Experience," UNU-INTECH Discussion Paper Series 2000-08, United Nations University - INTECH.
    • Handle: RePEc:unm:unuint:200008
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    File URL: https://www.merit.unu.edu/publications/discussion-papers/2000-8.pdf
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    References listed on IDEAS

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    2. Florian Schaefer & Girum Abebe, 2015. "The case for industrial policy and its application in the Ethiopian cut flower sector," Working Papers 012, Policy Studies Institute.
    3. S. M. Shafaeddin, 2005. "Forum 2005," Development and Change, International Institute of Social Studies, vol. 36(6), pages 1143-1162, November.
    4. Nagesh Kumar & Kevin P. Gallagher, 2007. "Relevance of ‘Policy Space’ for Development : Implications for Multilateral Trade Negotiations," Trade Working Papers 22111, East Asian Bureau of Economic Research.
    5. Tilman Altenburg & Wilfried Lütkenhorst, 2015. "Industrial Policy in Developing Countries," Books, Edward Elgar Publishing, number 14726.
    6. Charles Shaaba Saba & Nicholas Ngepah, 2020. "Empirical Analysis of Military Expenditure and Industrialisation Nexus: A Regional Approach for Africa," International Economic Journal, Taylor & Francis Journals, vol. 34(1), pages 58-84, January.
    7. Larry Westphal, 2002. "Technology Strategies For Economic Development In A Fast Changing Global Economy," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 11(4-5), pages 275-320.

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