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The Newly Industrializing Economies and Asian Development: Issues and Options

Hakchung Choo and Ifzal Ali

Asian Development Review (ADR), 1989, vol. 07, issue 02, 1-25

Abstract: The development experience of Asia in the last three decades is characterized by countries pursuing widely divergent strategies and policies resulting in disparate growth performances. The resource-poor Asian newly industrializing economies (NIEs), namely, Hong Kong; Republic of Korea; Singapore; and Taipei, China with their outward-looking export-oriented strategies, have recorded high growth rates. In contrast, the resource-rich Southeast Asian countries, namely, Indonesia, Philippines, Malaysia and Thailand, have had varied experiences, with Malaysia and Thailand showing promise of joining the ranks of the NIEs in the near future. The success of the NIEs, and of Malaysia and Thailand, has led to a rethinking of development policies in many Asian countries…

Date: 1989
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DOI: 10.1142/S0116110589000060

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