Economic Development In Asia

ECONOMIC DEVELOPMENT IN ASIA explores factors that influence economic growth and development particularly from an asian development perspective. Grounded firmly on theoretical foundations, it showcases the richness and variety of the Asian development experience through extensive coverage of individual country case studies, institutional developments, and challenges facing policy-makers in the region as well as in-depth discussions of existing empirical evidence. This book is specially tailored to meet the needs of social science students studying economic development in Asia. University students, educators and government policy makers will find the book particularly useful for understanding growth and development trends in the context of a rapidly globalizing world. With the rising tide of interest in Asian economies, the book will prove to be an invaluable for anyone seeking to better understand the process of growth and economic development in the region.

Economic Development of Emerging East Asia presents economic studies of Taiwan and South Korea, compares them chiefly with Japan and the United States and finds that these East Asian countries are still in the process of emerging in the world economy. A timely quantitative and econometric analysis of the regional economies of emerging East Asia, the volume examines development indicators, effects of the 1997 Asian financial crisis, productivity growth, catching up and convergence of long run real GDP per capita growth, the time required for a country to catch up, colonialism and economic development in Taiwan and India. Arranged in increasing complexity of economic analyses, the chapters in this book provide a comprehensive understanding of emerging East Asian economies. In addition to serving as a handy reference for regional economists, policy analysts and researchers, Economic Development of Emerging East Asia can also be used as a textbook on economics and business.

In an era of globalization, trade in goods and cross-border services and capital flows play a key role in determining the economic growth path of countries. Over the last two decades, countries have embarked on several alternate tracks to liberalize and deepen their linkage with the world economy. The growing trade-investment nexus and the emerging developments lead to deeper international production networks, rise in cross-border trade in services and in regional trade agreements and so on. The debate of whether it is possible to empirically validate the potential benefits of this deepening trade-investment linkage is ongoing. The evidence in literature is, however, ambiguous. This book contributes to the literature by looking at Asian economies and at the EU, Maghreb countries and Pacific Island economics. It examines the issues under four broad areas, namely: (1) trade: theoretical and policy issues, (2) factor flows: impact on trade and welfare, (3) impact of trade and factor flows on environment and (4) institutions, international trade and policy issues.

'This book provides a coherent and current account of how India, Indonesia, Malaysia, Thailand, the Philippines and the People's Republic of China coped with the Asian financial crisis of the 1990s and the recent global economic recession, and how they may address future challenges in maintaining growth in difficult times. It features a valuable overview of issues from a regional perspective, five chapters on general elements and obstacles in development, and individual chapters on the experience of each of the six countries. Every chapter is replete with relevant institutional and statistical data. The volume fills a void in the literature and is highly recommended for graduate students and for economists concerned with contemporary Asia.' – Peter Drake, The University of New England and Australian Catholic University, Australia 'To understand what makes Asia tick in the face of continuing global uncertainty and instability one has to go beyond numbers into the region's psyche and idiosyncrasies. This volume provides an interestingly intrusive and refreshingly insightful analysis of a highly complex phenomenon that defies generalizations as shown by the diversity of individual country experiences.' – Mohamed Ariff, International Centre for Education in Islamic Finance (INCEIF), Malaysia The center of global economic activity is shifting rapidly towards Asia, driven by a combination of the economic dynamism of the People's Republic of China, India, and other middle-income Asian countries, and sluggish growth in the OECD economies. The rapid growth and rising global prominence have raised a range of major challenges for Asia and for the rest of the world. This comprehensive, forward-looking book examines these issues through in-depth studies of major Asian economies and an analysis of the key development policy options. The contributors, leading international authorities in their field, explore cross-cutting thematic issues with special reference to developing Asia. They address a broad range of subjects including: investment and productivity, savings and the savings–investment relationship, financial development, the provision of infrastructure, and governance and institutions. Detailed country studies focusing on the People's Republic of China, India, Indonesia, Malaysia, the Philippines, and Thailand not only provide an analytical narrative for each case study, but also draw attention to the similarities and diversity within the region. This challenging and thought-provoking book will prove an important point of reference for scholars, researchers, and students in the fields of economics, development economics, and Asian studies.

There can be no doubt that Japan remains unchallenged as the economic giant of the Pacific. However, the economies of East and South East Asia are increasingly becoming integrated into a broad Pacific Asia region which contains most of the world's fastest growing economies. In Economic and Social Development in Pacific Asia a group of world authorities set the area in its global context and examine the economic emergence of the region. In so doing, they illustrate that despite superficial similiarities, there have been many more differences and it is not possible to offer a model of Asian development. The authors also challenge the perceived wisdom that this dynamic growth is the result of laissez-faire, market-led economies. They argue that on the contrary, there has been a great deal of government intervention, and this growth is actually a result of a policy of guiding the market.

First published in 1967, this influential study reviews the economic development of 15 countries from East Asia in the period between 1945 and 1965. It deals with a wide variety of factors influencing the development of the region, including the influence of foreign governments (both international aid and foreign trade); population development; industrialisation; transport and communication infrastructure; and the impact of economic development upon the population of East Asia.

Public spending on infrastructure plays an important role in promoting economic growth and poverty alleviation. Empirical studies unequivocally show that under-investment in infrastructure limit economic growth. At the same time, numerous other studies have shown that investment in infrastructure can be a highly effective tool in fighting poverty reduction1. In that context, the financing of infrastructure has been a critical element of most economic growth and poverty reduction strategies in developing countries, since the start of this millennium. This book provides a comparative analysis of the aggregate and sectoral implications of higher spending on infrastructure in three very different Asian countries: China, Pakistan, and the Philippines. Particular attention is paid to the role of alternative financing mechanisms for increasing public infrastructure investment, namely distortionary and non-distortionary means of financing. The book will be of interest to scholars and policy-makers concerned with economic growth in developing countries.

In light of the growing global economic importance of East Asia, this book analyzes and compares the extraordinary development paths and strategies of Japan, South Korea, and China. It examines both the factors that enabled these countries’ prolonged periods of high-speed economic growth, and the reasons for their subsequent “cool-downs.” In addition, the book illustrates how their development strategies served as role models for one another, and what current and future developing countries can learn from the East Asian success stories. This book will appeal to scholars and students of economics and development studies with an interest in the East Asian development model.