Economic Conditions in Asia, Foreign Trade Regulation, General & Miscellaneous Asian History, Economic Policies in Asia, Economic Development, International Exchange & Trade

Sustaining Export-Oriented Development: Ideas from East Asia

Name: Sustaining Export-Oriented Development: Ideas from East Asia
Author: Garnaut, Ross , Grilli, Enzo , Riedel, James
ISBN: 9780521121361

by Garnaut, Ross, Grilli, Enzo, Riedel, James

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Overview

Sustaining Export-Oriented Development looks at the East Asian economies' postwar development and assesses the prospects and constraints to continuing at its current pace. The possibilities of transferring East Asian development elsewhere are also considered. While there is no single East Asian model, common elements are identified: an abundance of low-wage labour and free labour markets, an emphasis on health and education, trade liberalisation and export-oriented policies, financial market liberalisation (providing an environment conducive to private saving and investment), efficient capital utilisation and a focus on sound infrastructure. Written by leading economists, the book traces the changes in the thinking of policymakers and advisers about the policies required for economic development. In particular, it examines the shift in emphasis from import-substitution to outward orientation that has coincided with the East Asian economies' success.

Synopsis

This book analyzes the remarkable postwar development of East Asian economies and assesses the prospects for copying this blueprint elsewhere. Leading economists examine the key factors and policy issues involved, especially the changed emphasis from import-substitution to outward-orientation.