Why East Asian Economies Have Been Sucessful: Some Lessons For Other Developing Countries

Byron Gangnes () and Seiji Naya ()

No 199202, Working Papers from University of Hawaii at Manoa, Department of Economics

Abstract: By almost any standard, the countries of East Asia have outperformed other developing countries over the past three decades. While there is no "Asian Model" of development, there are some common threads that run through the development experiences of East Asian countries. These include an outward-looking strategy, intrusive but market-oriented government policies, macroeconomic policies that encourage savings and investment, and a social consensus for economic growth. The positive experience of East Asian countries has begun to influence policymakers in other developing regions.

Pages: 26 pages
Date: 1992
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