Explaining East Asian Growth Gatton College of 解释东亚增长加顿学院.pptxVIP

Jennifer Moore Xiong Ye Explaining East Asian Growth There Are At Least Three Models of East Asian Development Dwight H. Perkins World Bank Study of The Success of High Performing Asian Economies 1. the emphasis on the export of manufactures 2. the maintenance of macroeconomic stability 3. the emphasis on primary and secondary rather than tertiary education At Least Three Distinctive Models 1. Manufactured export-led state interventionist model: Japan, Korea, and Taiwan 2. Commerce dominated model: Singapore and Hong Kong 3. Rich in natural resources but not in human resources: Indonesia, Malaysia, and Thailand 1. The emphasis on the export of manufactures World Bank The concentrated effort to promote manufactured exports was critical. Perkins Manufacture exports for Malaysia and Indonesia, because of the exportable natural resources, are not the same as other East Asian economies. 2. The maintenance of macroeconomic stability World Bank HPAEs respected fiscal prudence and avoided overvalued exchange rates. Perkins It is not that the HPAEs all managed to maintain balanced budgets and limit their borrowing abroad. HPAEs, on average, budget deficits were as large as other developing countries. Indonesia borrowed heavily abroad. 3. Emphasis on primary and secondary rather than tertiary education World Bank HPAEs emphasized on human capital development by providing universal primary education and expanding secondary education. Perkins Agreed on, and complemented most parts of the study. Quarrel: WB was too casually lumping together different human capital development challenges that faced to Muslim dominated counties versus Confucian value system dominated countries. The Role of Government Interventions World Bank Attempts to both describe the diversity and draw general conclusions applicable to all or most. Perkins The diversity is enormous and making a coherent story out a that diversity is a formidable task. The Historical And Political Context World Bank Explained w