Escaping the Squeeze: Lessons from East Asia on how Middle-income Countries can Grow Faster

Robert Hunter Wade

Chapter 14 in John Kenneth Galbraith and the Future of Economics, 2005, pp 196-213 from Palgrave Macmillan

Abstract: Abstract Middle-income countries continue to be under pressure to further open their economies to free trade and investment, to privatize state-owned assets, deregulate entry and exit to sectors, and give no preference to domestic firms over foreign firms. The pressure comes from the global economic multilaterals (especially the WTO, IMF and the World Bank), and from the US government and the EU;1 and beyond ‘pressure’, the appropriateness of such moves is ‘in the air’ of the ‘international development community’, and an operating premise of the leading English-language opinion-makers like the Financial Times and The Economist. The consensus is justified by the claim that these policy shifts will lead to faster rates of investment and economic growth, and thence to faster rises in average living standards and faster falls in the proportion of the population living below the national poverty line. In so far as they are adopted by many countries, the benefits will spread synergistically.

Keywords: Foreign Direct Investment; Foreign Firm; Industrial Policy; Outward Foreign Direct Investment; Trade Regime (search for similar items in EconPapers)
Date: 2005
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52370-8_15

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230523708

DOI: 10.1057/9780230523708_15

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().