East Asian Experience on Growth and Equity

Srinivas Kolluru () and Bhanoji Rao
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Bhanoji Rao: Bhanoji Rao is Visiting Professor at Lee Kuan Yew School of Public Policy, National University of Singapore, Singapore. E-mail: bhanoji@gmail.com
Authors registered in the RePEc Author Service: Bhanoji Rao Vadlamani

Global Business Review, 2011, vol. 12, issue 2, 237-246

Abstract: This article succinctly summarizes the growth experience of the four East Asian tiger economies (Hong Kong, Korea, Singapore and Taiwan) and three Association of South-East Asian Nations (ASEAN) states (Indonesia, Malaysia and Thailand). The crisis of 1997–98 had come to pass and the economies have returned to growth but not at the same tempo as in the earlier times. Several of the economies have experienced significantly reduced levels of poverty and visible inequalities. The degree of income inequality (measured by the Gini coefficient), however, stays more or less constant, with the level being especially low in economies that have taken steps to keep it low. A number of lessons and implications can be drawn from the experience of East Asia. Examples are the importance of an investor friendly economic climate, an efficient public sector; explicit advocacy of family limitation; ensuring the building up of infrastructure ahead of time; and minimising visible inequality and inequalities in opportunities.

Keywords: East Asian economies; growth; equity (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:sae:globus:v:12:y:2011:i:2:p:237-246

DOI: 10.1177/097215091101200204

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