Enhanced descriptions from Syndetics:

The extraordinary growth enjoyed over the last several decades by many East Asian countries has amounted to nothing less than an economic miracle. Employing unorthodox policies, Hong Kong, Indonesia, Japan, Malaysia, the Republic of Korea, Singapore, Taiwan, and Thailand have all produced dramatic results with far-reaching improvements in human welfare and income distribution, leading many to ask whether a similar achievement can be duplicated elsewhere. Written for the nonspecialist, this World Bank Policy Research Report--the first in an important new series--discusses in detail the means by which these high-performing Asian economies (HPAEs) realized their staggering success between 1965 and 1990. Examining how these countries stabilized their economies with sound development programs that led to fast growth, the book also shows how they shared the new prosperity by making income distribution more equitable. The book makes clear how the HPAEs promoted rapid capital accumulation by making banks more reliable and encouraging high levels of domestic savings, while universal primary schooling and better primary and secondary education quickly increased their skilled labor forces. Also included are illustrative examples of productive agricultural programs, modest tax policies, the modification of price distortions, foreign technology and investment, and the cooperation of government and private enterprise. Exposing to a broad audience the revolutionary process that transformed East Asia into the collection of economic juggernauts that it is today, this provocative World Bank report offers wisdom for today's up-and-coming markets, highlighting the policies that will make a difference as well as those that, despite their effectiveness in the Orient, could prove disastrous elsewhere.

Reviews provided by Syndetics

CHOICE Review

This volume presents a thorough and comprehensive study of the economic performance of eight countries in East Asia, the Four Tigers (Hong Kong, South Korea, Singapore, and Taiwan) and three newly industrializing economies (Indonesia, Malaysia, and Thailand). The World Bank teams of specialists examine in depth various aspects of these economies--growth, equity and economic change, macroeconomic stability and export growth, institutional factors, capital accumulation, and resources used--in an attempt to analyze the East Asian miracle of rapid economic growth. In doing so, the research teams raise important questions about the applicability and relevance of the experiences of these successful economies to other developing nations. The latest available statistical data are presented in impressive graphs. Supported by proper citations from the literature, the study is written in an easy-to-read style. Highly useful for both graduate and undergraduate students in economic development in general and Asian studies in particular. Also useful to professional economists and policy makers in developing countries to better understand the crucial factors that affect economic growth. J. S. Uppal; SUNY at Albany

Author notes provided by Syndetics

The World Bank Group is a group of five international organizations responsible for providing finance and advice to countries for the purposes of economic development and poverty reduction, and for encouraging and safeguarding international investment. The group and its affiliates have their headquarters in Washington, D.C., with local offices in 124 member countries.