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The Economic Development of Northeast Asia
Economic growth in Northeast Asia during the last 50 years has, by any standards, been remarkable. This major four-volume set draws together some of the most influential papers published on the growth and industrial transformation of the economies of Japan, Korea, Taiwan and Hong Kong.
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Critical Acclaim
Contributors
Contents
More Information
Economic growth in Northeast Asia during the last 50 years has, by any standards, been remarkable. This major four-volume set draws together some of the most influential papers published on the growth and industrial transformation of the economies of Japan, Korea, Taiwan and Hong Kong.
Volume I outlines the factors behind Northeast Asia’s development which includes a discussion on the impact of the financial crisis on each of these economies. Volume II discusses the macroeconomic settings and policy regimes under which growth has occurred, with a particular focus on monetary policy, fiscal policy and financial sector development. Volume III examines the external sector and human capital formation as the key catalysts for Northeast Asia’s growth, and includes discussions of labour markets and income distribution. Volume IV outlines industrial structures and the debate over the role of public policy.
This important collection will be welcomed by all those with an interest in Asian studies – scholars, students and policymakers alike.
Volume I outlines the factors behind Northeast Asia’s development which includes a discussion on the impact of the financial crisis on each of these economies. Volume II discusses the macroeconomic settings and policy regimes under which growth has occurred, with a particular focus on monetary policy, fiscal policy and financial sector development. Volume III examines the external sector and human capital formation as the key catalysts for Northeast Asia’s growth, and includes discussions of labour markets and income distribution. Volume IV outlines industrial structures and the debate over the role of public policy.
This important collection will be welcomed by all those with an interest in Asian studies – scholars, students and policymakers alike.
Critical Acclaim
‘This is a real doorstep of a collection. The four volumes contain over 70 reprinted articles and chapters of books, many of them individually of the first importance. . . new libraries lacking good runs of journals may well find the collection attractive.’
– Eric Jones, Business History
– Eric Jones, Business History
Contributors
72 articles, dating from 1973 to 2000
Contributors include: E. Chen, R. Garnaut, K. Hamada, W. Hong, K. Kojima, A.O. Krueger, P.R. Krugman, S.W.Y. Kuo, Y.C. Park, H.T. Patrick, G. Ranis
Contributors include: E. Chen, R. Garnaut, K. Hamada, W. Hong, K. Kojima, A.O. Krueger, P.R. Krugman, S.W.Y. Kuo, Y.C. Park, H.T. Patrick, G. Ranis
Contents
Contents:
Volume I
Acknowledgements
Introduction Heather Smith
PART I INTRODUCTION AND OVERVIEW
1. Paul W. Kuznets (1988), ‘An East Asian Model of Economic Development: Japan, Taiwan and South Korea’
2. Gustav Ranis (1995), ‘Another Look at the East Asian Miracle’
3. Sanjaya Lall (1996), ‘Paradigms of Development: The East Asian Debate’
4. Kazushi Ohkawa and Henry Rosovsky (1973), ‘The Contours of Modern Growth’
5. Edward J. Lincoln (1988), ‘The Slowdown in Growth’
6. Rudiger Dornbusch and Yung Chul Park (1987), ‘Korean Growth Policy’ and ‘Comments and Discussion’
7. Shirley W.Y. Kuo (1999), ‘Government Policy in the Taiwanese Development Process: The Past 50 Years’
8. Tzong Biau Lin and Yin Ping Ho (1981), ‘Export-oriented Growth and Industrial Diversification in Hong Kong’
PART II ECONOMIC GROWTH AND CRISIS
A The Growth Debate
9. Anne O. Krueger (1995), ‘East Asian Experience and Endogenous Growth Theory’
10. Alwyn Young (1995), ‘The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience’
11. Peter Drysdale and Yiping Huang (1997), ‘Technological Catch-up and Economic Growth in East Asia and the Pacific’
12. Stephan Haggard (1999), ‘Governance and Growth: Lessons from the Asian Economic Crisis’
B Crisis and Response
13. Jenny Corbett and David Vines (1999), ‘Asian Currency and Financial Crises: Lessons from Vulnerability, Crisis, and Collapse’
14. Ross Garnaut (2000), ‘East Asia After the Financial Crisis’
15. Yung Chul Park (1998), ‘The Financial Crisis in Korea and Its Lessons for Reform of the International Financial System’
16. Shirley W.Y. Kuo and Christina Y. Liu (1998), ‘Taiwan’
17. Tsang Shu-Ki (1999), ‘The Hong Kong Economy: Opportunities Out of the Crisis?’
Name Index
Volume II
Acknowledgements
An Introduction by the editor to all four volumes appears in Volume I
PART I MACROECONOMIC POLICY
A Monetary and Fiscal Policy
1. Koichi Hamada and Fumio Hayashi (1985), ‘Monetary Policy in Postwar Japan’
2. Paul R. Krugman (1998), ‘It’s Baaack: Japan’s Slump and the Return of the Liquidity Trap’
3. Ya-Hwei Yang (1998), ‘Monetary Policy and Capital Flows in Taiwan During the 1980s and 1990s’
4. Stephan Haggard and Susan Collins (1994), ‘The Political Economy of Adjustment in the 1980s’
5. Raymond Ng and Edward Chen (1998), ‘The Role of Monetary Policy Under a Linked Exchange Rate Regime: The Case of Hong Kong’
6. Kazumi Asako, Takatoshi Ito and Kazunori Sakamoto (1991), ‘The Rise and Fall of Deficit in Japan, 1965–1990’
7. Chao-Hsi Huang and Kenneth S. Lin (1991), ‘An Empirical Study on Taiwan’s Tax Policy: 1966–1988’
8. Wan-Soon Kim and K.Y. Yun (1988), ‘Fiscal Policy and Development in Korea’
9. Peter S. Heller (1999), ‘Aging in Asia: Challenges for Fiscal Policy’
B Savings and Investment
10. Charles Yuji Horioka (1990), ‘Why Is Japan’s Household Saving Rate So High?: A Literature Survey’
11. Susan M. Collins (1994), ‘Saving, Investment, and External Balance in South Korea’
C Financial Sector Development
12. Hugh T. Patrick (1994), ‘Comparisons, Contrasts, and Implications’
13. Akiyoshi Horiuchi (2000), ‘Japan’s Bank Crisis and the Issue of Governance’
14. Yung Chul Park (1994), ‘Korea: Development and Structural Change of the Financial System’
15. Jia-Dong Shea (1994), ‘Taiwan: Development and Structural Change of the Financial System’
Name Index
Volume III
Acknowledgements
An Introduction by the editor to all four volumes appears in Volume I
PART I EXTERNAL ECONOMIC RELATIONS
1. Anne O. Krueger (1995), ‘The Role of Trade in Growth and Development: Theory and Lessons from Experience’
A Economic Integration
2. Yun-Wing Sung (1995), ‘Subregional Economic Integration: Hong Kong, Taiwan, South China and Beyond’
3. Lee-in Chen Chiu and Chin Chung (1993), ‘An Assessment of Taiwan’s Indirect Investment Toward Mainland China’
B Trade and Investment
4. Bela Balassa (1986), ‘Japan’s Trade Policies’
5. Gary R. Saxonhouse (1993), ‘What Does Japanese Trade Structure Tell Us About Japanese Trade Policy?’
6. Kiyoshi Kojima (1995), ‘Dynamics of Japanese Direct Investment in East Asia’
7. Mark Mason (1995), ‘Japan’s Low Levels of Inward Direct Investment: Causes, Consequences and Remedies’
8. Il Sakong (1993), ‘International Factors in Recent Korean Development’
9. Hyuntai Kwak (1994), ‘Changing Trade Policy and Its Impact on TFP in the Republic of Korea’
10. Chi Schive and Badiul A. Majumdar (1990), ‘Direct Foreign Investment and Linkage Effects: The Experience of Taiwan’
11. James Riedel (1992), ‘International Trade in Taiwan’s Transition from Developing to Mature Economy’
12. Tzong-biau Lin and Victor Mok (1985), ‘Trade, Foreign Investment, and Development in Hong Kong’
PART II FACTOR MARKETS AND INCOME DISTRIBUTION
A Labour Markets
13. Gary S. Fields (1994), ‘Changing Labor Market Conditions and Economic Development in Hong Kong, the Republic of Korea, Singapore, and Taiwan, China’
14. Michel Fouquin (1991), ‘Export-oriented Industrialization, Female Employment and Demographic Trends: A Long-term Comparative Perspective of Japan and the Four NIEs – 1950 to 1988’
15. Toshiaki Tachibanaki (1987), ‘Labour Market Flexibility in Japan in Comparison with Europe and the U.S.’
16. Yin-Ping Ho (1992), ‘Labour and Labour Market Adjustment’
17. Sookon Kim and Ju-Ho Lee (1997), ‘Industrial Relations and Human Resource Development’
B Human Capital Formation
18. Hong W. Tan (1990), ‘Technical Change and Human Capital Acquisition in the U.S. and Japanese Labor Markets’ and ‘Comment’
19. Jennie Hay Woo (1991), ‘Education and Economic Growth in Taiwan: A Case of Successful Planning’
C Income Distribution
20. Wontack Hong (1981), ‘Trade, Growth and Income Distribution: The Korean Experience’
Name Index
Volume IV
Acknowledgements
An Introduction by the editor to all four volumes appears in Volume I
PART I STRUCTURAL CHANGE AND DEVELOPMENT
1. John C.H. Fei and Gustav Ranis (1974), ‘A Model of Growth and Employment in the Open Dualistic Economy: The Cases of Korea and Taiwan’
2. Howard Pack (1992), ‘New Perspectives on Industrial Growth in Taiwan’
A Agricultural Policy
3. Sophia Wu Huang (1993), ‘Structural Change in Taiwan’s Agricultural Economy’
4. Keijiro Otsuka and Yujiro Hayami (1985), ‘Goals and Consequences of Rice Policy in Japan, 1965–80’
5. Yoong-Deok Jeon and Young-Yong Kim (2000), ‘Land Reform, Income Redistribution, and Agricultural Production in Korea’
B Industry Policy
6. Heather Smith (1995), ‘Industry Policy in East Asia’
7. Peter Drysdale (1995), ‘The Question of Access to the Japanese Market?’
8. Ha-Joon Chang (1993), ‘The Political Economy of Industrial Policy in Korea’
9. Joseph J. Stern, Ji-hong Kim, Dwight H. Perkins and Jung-ho Yoo (1995), ‘Overview of Results’
10. Yoon Je Cho (1996), ‘Government Intervention, Rent Distribution, and Economic Development in Korea’
11. Heather Smith (1997), ‘Taiwan’s Industrial Policy in the 1980s: An Appraisal’
12. Edward K.Y. Chen and Kui-wai Li (1997), ‘Industrial Policy in a Laissez-Faire Economy: The Case of Hong Kong’
C Technology Policy
13. Daniel I. Okimoto (1989), ‘Industrial Policy Instruments for High Technology’
14. Otto C.C. Lin (1998), ‘Science and Technology Policy and Its Influence on Economic Development in Taiwan’
15. Denis Fred Simon (1996), ‘Charting Taiwan’s Technological Future: The Impact of Globalization and Regionalization’
16. Linsu Kim (1997), ‘Government as a Learning Facilitator’
D Corporate Organisation
17. Stephen D. Prowse (1992), ‘The Structure of Corporate Ownership in Japan’
18. Paul Sheard (1991), ‘The Economics of Japanese Corporate Organization and the "Structural Impediments" Debate: A Critical Review’
19. Makoto Abe and Momoko Kawakami (1997), ‘A Distributive Comparison of Enterprise Size in Korea and Taiwan’
20. Seong Min Yoo and Sung Soon Lee (1997), ‘Evolution of Industrial Organization and Policy Response in Korea: 1945–1995’
Name Index
Volume I
Acknowledgements
Introduction Heather Smith
PART I INTRODUCTION AND OVERVIEW
1. Paul W. Kuznets (1988), ‘An East Asian Model of Economic Development: Japan, Taiwan and South Korea’
2. Gustav Ranis (1995), ‘Another Look at the East Asian Miracle’
3. Sanjaya Lall (1996), ‘Paradigms of Development: The East Asian Debate’
4. Kazushi Ohkawa and Henry Rosovsky (1973), ‘The Contours of Modern Growth’
5. Edward J. Lincoln (1988), ‘The Slowdown in Growth’
6. Rudiger Dornbusch and Yung Chul Park (1987), ‘Korean Growth Policy’ and ‘Comments and Discussion’
7. Shirley W.Y. Kuo (1999), ‘Government Policy in the Taiwanese Development Process: The Past 50 Years’
8. Tzong Biau Lin and Yin Ping Ho (1981), ‘Export-oriented Growth and Industrial Diversification in Hong Kong’
PART II ECONOMIC GROWTH AND CRISIS
A The Growth Debate
9. Anne O. Krueger (1995), ‘East Asian Experience and Endogenous Growth Theory’
10. Alwyn Young (1995), ‘The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience’
11. Peter Drysdale and Yiping Huang (1997), ‘Technological Catch-up and Economic Growth in East Asia and the Pacific’
12. Stephan Haggard (1999), ‘Governance and Growth: Lessons from the Asian Economic Crisis’
B Crisis and Response
13. Jenny Corbett and David Vines (1999), ‘Asian Currency and Financial Crises: Lessons from Vulnerability, Crisis, and Collapse’
14. Ross Garnaut (2000), ‘East Asia After the Financial Crisis’
15. Yung Chul Park (1998), ‘The Financial Crisis in Korea and Its Lessons for Reform of the International Financial System’
16. Shirley W.Y. Kuo and Christina Y. Liu (1998), ‘Taiwan’
17. Tsang Shu-Ki (1999), ‘The Hong Kong Economy: Opportunities Out of the Crisis?’
Name Index
Volume II
Acknowledgements
An Introduction by the editor to all four volumes appears in Volume I
PART I MACROECONOMIC POLICY
A Monetary and Fiscal Policy
1. Koichi Hamada and Fumio Hayashi (1985), ‘Monetary Policy in Postwar Japan’
2. Paul R. Krugman (1998), ‘It’s Baaack: Japan’s Slump and the Return of the Liquidity Trap’
3. Ya-Hwei Yang (1998), ‘Monetary Policy and Capital Flows in Taiwan During the 1980s and 1990s’
4. Stephan Haggard and Susan Collins (1994), ‘The Political Economy of Adjustment in the 1980s’
5. Raymond Ng and Edward Chen (1998), ‘The Role of Monetary Policy Under a Linked Exchange Rate Regime: The Case of Hong Kong’
6. Kazumi Asako, Takatoshi Ito and Kazunori Sakamoto (1991), ‘The Rise and Fall of Deficit in Japan, 1965–1990’
7. Chao-Hsi Huang and Kenneth S. Lin (1991), ‘An Empirical Study on Taiwan’s Tax Policy: 1966–1988’
8. Wan-Soon Kim and K.Y. Yun (1988), ‘Fiscal Policy and Development in Korea’
9. Peter S. Heller (1999), ‘Aging in Asia: Challenges for Fiscal Policy’
B Savings and Investment
10. Charles Yuji Horioka (1990), ‘Why Is Japan’s Household Saving Rate So High?: A Literature Survey’
11. Susan M. Collins (1994), ‘Saving, Investment, and External Balance in South Korea’
C Financial Sector Development
12. Hugh T. Patrick (1994), ‘Comparisons, Contrasts, and Implications’
13. Akiyoshi Horiuchi (2000), ‘Japan’s Bank Crisis and the Issue of Governance’
14. Yung Chul Park (1994), ‘Korea: Development and Structural Change of the Financial System’
15. Jia-Dong Shea (1994), ‘Taiwan: Development and Structural Change of the Financial System’
Name Index
Volume III
Acknowledgements
An Introduction by the editor to all four volumes appears in Volume I
PART I EXTERNAL ECONOMIC RELATIONS
1. Anne O. Krueger (1995), ‘The Role of Trade in Growth and Development: Theory and Lessons from Experience’
A Economic Integration
2. Yun-Wing Sung (1995), ‘Subregional Economic Integration: Hong Kong, Taiwan, South China and Beyond’
3. Lee-in Chen Chiu and Chin Chung (1993), ‘An Assessment of Taiwan’s Indirect Investment Toward Mainland China’
B Trade and Investment
4. Bela Balassa (1986), ‘Japan’s Trade Policies’
5. Gary R. Saxonhouse (1993), ‘What Does Japanese Trade Structure Tell Us About Japanese Trade Policy?’
6. Kiyoshi Kojima (1995), ‘Dynamics of Japanese Direct Investment in East Asia’
7. Mark Mason (1995), ‘Japan’s Low Levels of Inward Direct Investment: Causes, Consequences and Remedies’
8. Il Sakong (1993), ‘International Factors in Recent Korean Development’
9. Hyuntai Kwak (1994), ‘Changing Trade Policy and Its Impact on TFP in the Republic of Korea’
10. Chi Schive and Badiul A. Majumdar (1990), ‘Direct Foreign Investment and Linkage Effects: The Experience of Taiwan’
11. James Riedel (1992), ‘International Trade in Taiwan’s Transition from Developing to Mature Economy’
12. Tzong-biau Lin and Victor Mok (1985), ‘Trade, Foreign Investment, and Development in Hong Kong’
PART II FACTOR MARKETS AND INCOME DISTRIBUTION
A Labour Markets
13. Gary S. Fields (1994), ‘Changing Labor Market Conditions and Economic Development in Hong Kong, the Republic of Korea, Singapore, and Taiwan, China’
14. Michel Fouquin (1991), ‘Export-oriented Industrialization, Female Employment and Demographic Trends: A Long-term Comparative Perspective of Japan and the Four NIEs – 1950 to 1988’
15. Toshiaki Tachibanaki (1987), ‘Labour Market Flexibility in Japan in Comparison with Europe and the U.S.’
16. Yin-Ping Ho (1992), ‘Labour and Labour Market Adjustment’
17. Sookon Kim and Ju-Ho Lee (1997), ‘Industrial Relations and Human Resource Development’
B Human Capital Formation
18. Hong W. Tan (1990), ‘Technical Change and Human Capital Acquisition in the U.S. and Japanese Labor Markets’ and ‘Comment’
19. Jennie Hay Woo (1991), ‘Education and Economic Growth in Taiwan: A Case of Successful Planning’
C Income Distribution
20. Wontack Hong (1981), ‘Trade, Growth and Income Distribution: The Korean Experience’
Name Index
Volume IV
Acknowledgements
An Introduction by the editor to all four volumes appears in Volume I
PART I STRUCTURAL CHANGE AND DEVELOPMENT
1. John C.H. Fei and Gustav Ranis (1974), ‘A Model of Growth and Employment in the Open Dualistic Economy: The Cases of Korea and Taiwan’
2. Howard Pack (1992), ‘New Perspectives on Industrial Growth in Taiwan’
A Agricultural Policy
3. Sophia Wu Huang (1993), ‘Structural Change in Taiwan’s Agricultural Economy’
4. Keijiro Otsuka and Yujiro Hayami (1985), ‘Goals and Consequences of Rice Policy in Japan, 1965–80’
5. Yoong-Deok Jeon and Young-Yong Kim (2000), ‘Land Reform, Income Redistribution, and Agricultural Production in Korea’
B Industry Policy
6. Heather Smith (1995), ‘Industry Policy in East Asia’
7. Peter Drysdale (1995), ‘The Question of Access to the Japanese Market?’
8. Ha-Joon Chang (1993), ‘The Political Economy of Industrial Policy in Korea’
9. Joseph J. Stern, Ji-hong Kim, Dwight H. Perkins and Jung-ho Yoo (1995), ‘Overview of Results’
10. Yoon Je Cho (1996), ‘Government Intervention, Rent Distribution, and Economic Development in Korea’
11. Heather Smith (1997), ‘Taiwan’s Industrial Policy in the 1980s: An Appraisal’
12. Edward K.Y. Chen and Kui-wai Li (1997), ‘Industrial Policy in a Laissez-Faire Economy: The Case of Hong Kong’
C Technology Policy
13. Daniel I. Okimoto (1989), ‘Industrial Policy Instruments for High Technology’
14. Otto C.C. Lin (1998), ‘Science and Technology Policy and Its Influence on Economic Development in Taiwan’
15. Denis Fred Simon (1996), ‘Charting Taiwan’s Technological Future: The Impact of Globalization and Regionalization’
16. Linsu Kim (1997), ‘Government as a Learning Facilitator’
D Corporate Organisation
17. Stephen D. Prowse (1992), ‘The Structure of Corporate Ownership in Japan’
18. Paul Sheard (1991), ‘The Economics of Japanese Corporate Organization and the "Structural Impediments" Debate: A Critical Review’
19. Makoto Abe and Momoko Kawakami (1997), ‘A Distributive Comparison of Enterprise Size in Korea and Taiwan’
20. Seong Min Yoo and Sung Soon Lee (1997), ‘Evolution of Industrial Organization and Policy Response in Korea: 1945–1995’
Name Index
