The Newly Industrializing Economies Of East Asia

The phenomenal success of the East Asian Newly Industrializing Economies (NIEs) of Korea, Taiwan, Hong Kong, and Singapore is now well-known and documented. Their success has been discussed to such an extent that it has become entrenched as part of the folklore of development economics. The Newly Industrializing Economies of East Asia takes a fresh look at the relevant literature and sifts the rhetoric from the reality. In the course of surveying the vast range of writing two competing paradigms become clear: the neo-classical approach which interprets the East Asian economic miracle as the predictable outcome of `good' policies; and the statist perspective which draws attention to the central role of the government in guiding East Asian economic development. Throughout the book the authors mix country-specific experiences with broader trends.

Offers a careful synthesis of a vast and disparate literature and makes it accessible to student readership. Points to the need to take a closer look at the future evolution of the East Asian NIEs in an era of democratisation.

In surveying the vast range of writing on the East Asian NIEs and their development paths, this book evaluates the competing roles of neo-classical approaches and central government intervention in guiding economic development.

Where development is concerned, our language and perhaps our way of thinking often ap pear somewhat distorted. If anything, the Asian economies with their most impressive and dynamic growth should logically be called developing countries. Instead, we call them threshold countries, newly industrializing countries (NICs) or newly industrializing eco nomies (NIEs), the latter term taking into account the Chinese argument that Hong Kong and Taiwan should not be considered countries. During the eighties, when Latin American NICs became the main victims of the debt crisis, the NIEs of East Asia (EANIEs), the little tigers or dragons, presented most impres sive examples of growth through orientation to world trade, fitting well into the Japanese 'flying-geese' concept. Naturally, questions were raised as to the reasons for this success, the lessons other countries could draw from it, and the outlook for the future. At the same time, the establis hed industrial countries wanted to know what NIE competition might mean for them. In 1988, the OECD published a study entitled "The NIEs -Challenge and Opportunity for OECD Industries". The NIBs had become a fashionable object of research and debate. In Western Europe, where countries are preparing for a period offurtherintegration and East-West cooperation, it seems worth-while to also consider the role ofthe EANIEs and the options for cooperation they represent. Moreover, the NIEs themselves are following development in Europe with some concern and are trying to adjust to the new situation as it emerges.

Why do some economies seem to excel at effective pollution management while others miss the mark when responding to deteriorating urban environments? These studies of pollution management in East Asia's newly industrialized economies (NIEs) include successful government responses in Singapore and Taiwan, qualified results in China and Indonesia, and much more limited success in Thailand and Malaysia. In each example, Michael Rock considers the starting point of the economy as it began its path toward industrialization in the post World War II period. He discusses the relevant historical and political context, the pressures placed on the political system from domestic and international sources, and the influence of ongoing trends in East Asia for democratization and economic liberalization. Rock's text makes it clear that each economy found unique, innovative ways to link environmental protection to its own political and economic institutions. Thus, while public pressure from both home and abroad gave strong impetus to successful programs in Taiwan, the development of policy in Singapore involved limited public review and a centralized, government-led process. The result of Rock's scholarship is a book that provides important lessons without being reductionist. The book offers insights to apply to pollution management in a diverse range of developing nations, but avoids attempts for precise prescriptions, or universally appealing, normative answers. A copublication of Resources for the Future and the Institute of Southeast Asian Studies (ISEAS).

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.