The Role of Government in East Asian Economic Development: Comparative Institutional Analysis

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9780198292135: The Role of Government in East Asian Economic Development: Comparative Institutional Analysis

This collection of papers stems from a recent World Bank project focused upon the contentious issue of whether government has played any positive role in the success of the so-called "high-performing" Asian economies. It goes beyond the influential World Bank volume The East Asian Miracle to chart a middle ground that recognizes diversity among the different East Asian economies, as well as the evolutionary nature of government intervention.

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About the Author:

Masahiko Aoki is at Stanford University. Hyung-Ki Kim is at World Bank.

Review:

Matsuyama's chapter is an insightful peice of writing, a worthy and intellectually stimulating addition to any student economic development course. The collection gives more comfort to those who advocate development by interventionism than to those who do not. The exceptions to this verdict include Matsuyama's chapter. - Ian Dickson. Economic Record. March 1998.

The rich institutional detail contained in the country specific chapters make it a valuable reference for students of East-Asian developments - Heather Smith in Asian-Pacific Economic Literature May 1999

This volume will certainly gain empathy from those social scientists who are keenly aware of the importance of institutions and histories as key determinants of economic development. The volume is full of new exciting concepts. The Asian perspectives developed in this volume have succeeded in 'disclosing certain limits of the neo-classical approach which evolved primarily in Anglo-American academia' the stated goal of the volume.

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Aoki, Masahiko; Kim, Hyung-ki; Okuno-Fujiwara, Masahiro
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Aoki, Masahiko [Editor]; Kim, Hyung-Ki [Editor]; Okuno-Fujiwara, Masahiro [Editor];
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Published by Oxford University Press, United Kingdom (1997)
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Book Description Oxford University Press, United Kingdom, 1997. Hardback. Book Condition: New. New.. Language: English . Brand New Book ***** Print on Demand *****. The role of government in East Asian economic development has been a continuous issue. Two competing views have shaped enquiries into the source of the rapid growth high-performing Asian economies and attempts to derive a general lesson for other developing economies: the market-friendly view, according to which government intervenes little in the market, and the developmental state view, in which it governs the market. What these views share in common is a conception of market and government as alternative mechanisms for resource allocation. They are distinct only in their judgement of the extent to which market failures have been, and ought to be, remedied by direct government intervention. This collection of essays suggests a breakthrough, third view: the market-enhancing view. Instead of viewing government and the market as mutually exclusive substitutes, it examines the capacity of government policy to facilitate or complement private sector co-ordination. The book starts from the premise that private sector institutions have important comparative advantages over government, in particular in their ability to process information available on site. At the same time, it recognizes that the capabilities of the private sector are more limited in developing economies. The market-enhancing view thus stresses the mechanisms whereby government policy is directed at improving the ability of the private sector to solve co-ordination problems and overcome other market imperfections. In presenting the market-enhancing view, the book recognizes the wide diversity of the roles of government across various East Asian economies-including Japan, Korea, Hong Kong, Malaysia, and China-and its path-dependant and developmental stage nature. Bookseller Inventory # APC9780198292135

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Published by Oxford University Press, United Kingdom (1997)
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Book Description Oxford University Press, United Kingdom, 1997. Hardback. Book Condition: New. New.. Language: English . Brand New Book ***** Print on Demand *****.The role of government in East Asian economic development has been a continuous issue. Two competing views have shaped enquiries into the source of the rapid growth high-performing Asian economies and attempts to derive a general lesson for other developing economies: the market-friendly view, according to which government intervenes little in the market, and the developmental state view, in which it governs the market. What these views share in common is a conception of market and government as alternative mechanisms for resource allocation. They are distinct only in their judgement of the extent to which market failures have been, and ought to be, remedied by direct government intervention. This collection of essays suggests a breakthrough, third view: the market-enhancing view. Instead of viewing government and the market as mutually exclusive substitutes, it examines the capacity of government policy to facilitate or complement private sector co-ordination. The book starts from the premise that private sector institutions have important comparative advantages over government, in particular in their ability to process information available on site. At the same time, it recognizes that the capabilities of the private sector are more limited in developing economies. The market-enhancing view thus stresses the mechanisms whereby government policy is directed at improving the ability of the private sector to solve co-ordination problems and overcome other market imperfections. In presenting the market-enhancing view, the book recognizes the wide diversity of the roles of government across various East Asian economies-including Japan, Korea, Hong Kong, Malaysia, and China-and its path-dependant and developmental stage nature. Bookseller Inventory # APC9780198292135

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Masahiko Aoki (Editor), the late Hyung-Ki Kim (Editor), Masahiro Okuno-Fujiwara (Editor)
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Published by Clarendon Press (1997)
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Book Description Clarendon Press, 1997. Hardcover. Book Condition: New. book. Bookseller Inventory # M0198292139

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