By Helen Hughes
This publication examines the industrial luck of the newly industrializing and near-industrializing economies of East Asia. the prestigious team of authors covers a number issues in a comparative point of view, and identifies classes of outrage to monetary, political, and social questions in the course of the constructing global. members: James Riedel, Hollis Chenery, Seiji Naya, Thomas G. Parry, Robert Wade, Arnold C. Harberger, Deepak Lal, Ryokichi Hirono, Stephen Haggard, J.A.C. Mackie, William J. O'Malley.
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Snodgrass (1980:57) dismisses, however, the equity measures initiated since the 1969 riots as 'a blend of racial rhetoric and bold promises for the long-range future, on the one hand, and only moderately increasing expenditure levels and general continuity with past policies on the other'. 8 Income distribution and growth of the East Asian countries relative to a sample of thirty-four developing countries Rank out of sample of 34 countries Income distribution Taiwan Singapore Korea, Republic of Hong Kong Indonesia Thailand Malaysia Philippines 1 5 8 11 15 16 26 22 Income and GDP growth Income distribution and per capita growth 1 2 4 5 8 10 16 17 1 2 3 4 8 9 14 17 Source: World Development Report, 1985 (World Bank, various years).
The culmination of Indonesian dirigisme was Sukarno's 1958 proclamation of the policy of 'Guided Democracy' and 'Guided Economy', which was meant to put all decision-making authority in the hands of Sukarno (Gillis 1984:242). The economic decline which ensued led to political upheaval and a new government in 1966 dedicated to a 'New Order'. The reforms which followed, at least until 1983, were mainly macroeconomic: the imposition of fiscal discipline and the freeing of the foreign exchange market.
26 Achieving Industrialization in East Asia quality of their labour force. Diligence, loyalty, hard work and a strong appreciation of education are virtues which appear to be more abundant in East Asian NICs than elsewhere. Since these countries have common historical roots, the explanation has been found in culture, a factor relegated to the dustbin of development economics for more than three decades. Currently, however, the most popular explanation of Asian dynamism, with an appeal broad enough to embrace the likes of futurologist Herman Kahn (1979) and mathematical economist Michio Morishima (1982), is the teachings of a Chinese philosopher who lived more than twenty-five centuries ago.
Achieving Industrialization in East Asia by Helen Hughes