Asian growth miracle
What they found was that once you took account of the growth in these measurable inputs, you could explain most, and in some cases all, of the growth in output. Now a similar case of financial contagion has spread across Asia following Thailand's currency crisis. Another example is Honda. Ho, is that the firm was more profitable when it concentrated on its core competencies. If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form.
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Vietnam set to be next Asian growth miracle
The perspiration theory predicts a gradual loss of momentum, not a crash. Export roles and industrial upgrading. This article appeared in issue November It was sort of exciting to be on the neo-liberal front lines on those days. These trade linkages can be conceptualized as a set of five major export roles : 1 primary commodity exports ; 2 export-processing zones EPZs or in-bond assembly ; 3 component-supply subcontracting ; 4 original equipment manufacturing OEM ; and 5 original brandname manufacturing OBM Hobart cites a number of books on East Asian development, some of which were written by proponents of interventionist policy models.
Asian Economic ‘Miracle’ a Paradox of Profit and Poverty – Brink – The Edge of Risk
The region is also home to a deep well of innovation, with companies like Samsung always nipping at the heels of tech giant Apple in the coveted smartphone marketplace. High rates of investment, exceeding 20 percent of GDP during , especially private investment, were supported by a rapid increase in domestic savings; indeed, the HPAEs are the only developing economies in which savings exceed investment, making them net exporters of capital 4. There are many more such anecdotes, and there are also lots of anecdotes about how MITI did help Japan to succeed. The East Asian miracle revisited East Asian economies achieved high growth rates by getting the basics right and promoting investment. This OBM option, while still remote even for the relatively advanced Third World nations in Latin America and Southeast Asia, establishes a new benchmark against which the most ambitious export firms will be measured. In the personal computer industry, Taiwanese companies are more inclined to export their own brands of computers than their South Korean counterparts.
Stay Informed New thinking on corporate risk and resilience in the global economy. Whether large industrial conglomerates, like South Korea's chaebol, or densely networked small and medium-size firms, as in Hong Kong and Taiwan, domestic enterprises have been the key to East Asia's international competitiveness A version of this article first appeared on Project Syndicate. Michael Pettis says this explains the German success story. Almost two decades ago, the World Bank published its landmark study The East Asian Miracle , analysing why East Asian economies grew faster than emerging markets in Latin America, Africa and elsewhere. Then they went even further in splitting the national government into three branches that compete with each other for power and prestige. When people can easily move from one jurisdiction to another, governments have to compete with each other to attract citizens.