Ersatz Miracle: Learning Development Lessons from Southeast Asia

Kwame Sundaram Jomo ()

Development, 2016, vol. 59, issue 1, 127-132

Abstract: Abstract Other developing countries have been urged to emulate three Southeast Asian economies based on misleading analysis of the rapid growth and structural transformation of eight East Asian economies excluding China. Despite departing from the earlier conventional wisdom based on the Washington Consensus, the Bank’s analysis favours ‘functional interventions’, correcting for market failures, while eschewing the Northeast Asian economies’ ‘strategic interventions’ which were crucial to their superior economic performance.

Keywords: Infrastructure; Investment; Governance; Growth; Intervention (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1057/s41301-017-0084-y

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