Growth Theories in Light of the East Asian Experience

The contributors to this volume analyze the growth experiences of Japan, Korea, China, Hong Kong, Singapore and Taiwan in light of the developed endogenous growth theory, in order to provide an understanding of the economic boom in East Asia. The theory explored in this volume attributes the phenomenal economic success of these countries to the role of an outward orientation - a focus on exporting rather than on protecting home markets. In addition, the importance of exchange-rate behaviour, of the supportive role of government policy, and of the accumulation and promotion of physical and human capital, are explored in detail.