Catching Up: The Asian Newly Industrializing Economies in the 1990s

Helen Hughes

Asian Development Review (ADR), 1989, vol. 07, issue 02, 128-144

Abstract: Forty years ago, some of the Asian newly industrializing economies (NIEs) and near-NIEs were among the poorest countries in the world. Today they not only lead in economic growth among developing countries but also are catching up to the market-oriented industrial countries (see Table 1). During the late 1980s the performance of the NIEs accelerated, reaching even higher rates of growth than they had achieved in the 1960s and 1970s. Domestic policy improvements enabled them to take advantage of the strength of the world economy from the second half of 1983. The South Asian countries performed quite well during this period and so did some of the Mediterranean countries, but countries in Africa south of the Sahara and in Latin America ran deeply into debt and barely grew at all in terms of per capita income…

Date: 1989
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DOI: 10.1142/S0116110589000126

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