The Role of Government in East Asian Economic Development. Comparative Institutional Analysis.
. Ed(s): Aoki, Masahiko; Kim, Hyung-Ki (former Division Chief for Studies, EDIST, World Bank); Okuno-Fujiwara, Masahiro (Professor of Economics, Univ
Language: English
Published by Oxford University Press, 1997
- Hardcover
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A collection of papers resulting from a World Bank project on the issue of whether government played any positive role in the success of the high performing Asian economies, focusing on the diversity among different East Asian economies and the evolutionary nature of government intervention. Editor(s): Aoki, Masahiko; Kim, Hyung-Ki (former Division Chief for Studies, EDIST, World Bank); Okuno-Fujiwara, Masahiro (Professor of Economics, University of Tokyo, Japan). Num Pages: 444 pages, line figures, tables. BIC Classification: 1FP; JPQ; KCM; KCP; KFFD. Category: (P) Professional & Vocational. Dimension: 242 x 169 x 30. Weight in Grams: 794. . 1997. Hardback. . . . .
Seller Inventory # V9780198292135
- Title
- The Role of Government in East Asian Economic Development. Comparative Institutional Analysis.
- Author
- . Ed(s): Aoki, Masahiko; Kim, Hyung-Ki (former Division Chief for Studies, EDIST, World Bank); Okuno-Fujiwara, Masahiro (Professor of Economics, Univ
- Publisher
- Oxford University Press
- Publication year
- 1997
- Condition
- New
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0198292139
- ISBN 13
- 9780198292135
This collection of essays suggests a breakthrough, third view: the market-enhancing view. Instead of viewing government and the market as mutually exclusive substitutes, it examines the capacity of government policy to facilitate or complement private sector co-ordination. The book starts from the premise that private sector institutions have important comparative advantages over government, in particular in their ability to process information available on site. At the same time, it recognizes that the capabilities of the private sector are more limited in developing economies. The market-enhancing view thus stresses the mechanisms whereby government policy is directed at improving the ability of the private sector to solve co-ordination problems and overcome other market imperfections.
In presenting the market-enhancing view, the book recognizes the wide diversity of the roles of government across various East Asian economies-including Japan, Korea, Hong Kong, Malaysia, and China-and its path-dependant and developmental stage nature.
"Synopsis" may belong to another edition of this title.
Review
The rich institutional detail contained in the country specific chapters make it a valuable reference for students of East-Asian developments - Heather Smith in Asian-Pacific Economic Literature May 1999
This volume will certainly gain empathy from those social scientists who are keenly aware of the importance of institutions and histories as key determinants of economic development. The volume is full of new exciting concepts. The Asian perspectives developed in this volume have succeeded in 'disclosing certain limits of the neo-classical approach which evolved primarily in Anglo-American academia' the stated goal of the volume.
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