The Economic Travails of Some Less Developed Countries in Asia as the Consequence of Inefficiency Exposed by Globalization: A Theoretical Explanation Abstract: The paper explains theoretically that the present economic problems of less developed countries in Southeast Asia and elsewhere in the world are the direct offspring of the inefficiency of their industries, disabling them to effectively compete in the world market. Globalization simply exposed this inefficiency. The sharp depreciation of these countries? currencies is merely a consequence of such inefficiency. Thus, these countries? problem are not financial in nature but a real sector phenomenon and as such the ?solution? should be trained on the real sector, the study concludes

Casimiro, Jr. Miranda
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Casimiro, Jr. Miranda: School of Economics, University of the Philippines Diliman

No 199911, UP School of Economics Discussion Papers from University of the Philippines School of Economics

Date: 1999-11
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Published as UPSE Discussion Paper No.1999-11, November 1999

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