The Key to the Asian Miracle

Jose Edgardo Campos; Hilton L. Root

doi:10.5771/9780815723035

Summary

"Easily the most informed and comprehensive analysis to date on how and why East Asian countries have achieved sustained high economic growth rates, [this book] substantially advances our understanding of the key interactions between the governors and governed in the development process. Students and practitioners alike will be referring to Campos and Root's series of excellent case studies for years to come." Richard L. Wilson, The Asia Foundation

Eight countries in East Asia--Japan, South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, and Indonesia--have become known as the "East Asian miracle" because of their economies' dramatic growth. In these eight countries real per capita GDP rose twice as fast as in any other regional grouping between 1965 and 1990. Even more impressive is their simultaneous significant reduction in poverty and income inequality. Their success is frequently attributed to economic policies, but the authors of this book argue that those economic policies would not have worked unless the leaders of the countries made them credible to their business communities and citizens.

Jose Edgardo Campos and Hilton Root challenge the popular belief that East Asia's high performers grew rapidly because they were ruled by authoritarian leaders. They show that these leaders had to collaborate with various sectors of their population to create an environment that was conducive to sustained growth. This required them to persuade the business community that their investments would not be expropriated and to convince the broader population that their short-term sacrifices would be rewarded in the future. Many of the countries achieved business cooperation by creating consultative groups, which the authors call deliberation councils, to enhance accountability and stability. They also obtained popular support through a variety of wealth-sharing measures such as land reform, worker cooperatives, and wider access to education.

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Bibliographic data

Copyright year: 2001
ISBN-Print: 978-0-8157-1360-9
ISBN-Online: 978-0-8157-2303-5
Publisher: Rowman & Littlefield, Lanham
Language: English
Pages: 198
Product type: Book Titles

1. Contents No access
1. Introduction No access
2. Rapid Growth, Reduced Poverty, and Improved Income Distribution No access
1. Political Contestability: The Communist Threat in East Asia No access
2. Wealth Sharing, Regime Stability, and Growth No access
1. Land Reform and Rural Development No access
2. Investing in Education and Promoting Labor-intensive Manufacturing No access
3. Promoting Small- and Medium-Sized Enterprises No access
4. Developing Rural Infrastructure No access
5. Allocating Corporate Equity No access
6. Sharing with Labor: Effective Tripartism No access
7. Worker Cooperatives No access
8. Public Housing Programs No access
9. Summary No access
1. The Deliberation Council No access
2. National Wages Council: Singapore No access
3. The Implications of Councils for Economic Performance No access
4. The Political Role of Councils No access
5. Summary No access
1. Taiwan No access
2. Indonesia No access
1. Expectations and Credibility No access
2. The Route to Competency No access
3. Balancing Independence and Accountability No access
4. Implications for Economic Growth No access
7. Conclusion: The Rise of East Asia in Comparative Perspective No access Pages 174 - 178
References No access Pages 179 - 188
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