No Miracle: What Asia Can Teach All Countries About Growth (Global Finance)

No Miracle examines the role of institutions in bridging the 'digital divide' between rich and poor nations and what that means for the country's integration into a global economy. Shifting the debate from whether institutions are important to economic development to which institutions are important and how to build them, Mitchell Wigdor expertly addresses fundamental shortcomings in the existing development literature by identifying specific institutions that mediate the relationship between Information and Communications Technology (ICT) and economic growth. In doing so he challenges those concerned with development to shift their gaze from whether institutions are important to economic development to which institutions might be the focus of government efforts and how to build them. Detailed case studies of the economic development strategies of Singapore and Malaysia from 1960 demonstrate that institution-building and economic development may be as much about process as the specific policies governments pursue. Written in accessible, non-technical, language this book should be read by everyone concerned with economic growth both in less economically developed countries and the more prosperous including those in government, international organizations, NGOs, universities, policy makers and the private sector.

Mitchell Wigdor is a lawyer and business advisor with over twenty years experience in international corporate transactions with a focus on Southeast Asia. He is a graduate of Harvard, the London School of Economics, McGill and the University of Toronto, where he earned his doctorate and is an Adjunct Professor of Law.