Download or read book East Asia s Dynamic Development Model and Teh Republic of Korea s Experiences written by Ho-chʻŏl Yi and published by World Bank Publications. This book was released on 2003 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: No region has been more dynamic in recent years than East Asia. Despite its successful economic development, evaluations of the East Asian development model have often been capricious, shifting from "miracle" to "cronyism." How can we explain East Asia's ups and downs consistently? To respond to this challenge, it is necessary to study the progress of East Asian development and to trace the influence of Asian cultural values. This study mainly focuses on cultural aspects of economic progress and analyzes East Asia's philosophical and historical backgrounds to explain the dynamic process. East Asians believe that balance between opposite but complementary forces, Yin and Yang, will ensure social stability and progress. Through repeated rebalancing to maintain harmony, the society comes to maturity. In traditional East Asian societies, a balance was maintained between Confucianism (Yang) and Taoism, Buddhism, and other philosophies (Yin). In modern societies, the challenge is to balance traditional systems (Yang) and Western style capitalism (Yin). This East Asian development model explains the Republic of Korea's rise, fall, and recovery. Korea was a poor country until the early 1960s, during the time when spiritualism (Yang) dominated. From the 1960s through the 1980s, Korea achieved rapid growth by finding a new balance and moving toward materialism (Yin) from spiritualism (Yang). But the failure to maintain a harmonious balance between cooperatism and collectivism (Yang) and individualism (Yin) led to major weaknesses in labor and financial markets that contributed significantly to the financial crisis in 1997. As Korea arrived at a new balance by instituting reform programs, the venture-oriented information and communication technology (ICT) industry blossomed and led to a rapid economic recovery. Since 2000, domestic financial scandals and political corruption have emerged as new social issues. Korea's next challenge is to find a new harmonization between moralism (Yang) and legalism (Yin). This paper-a product of the Office of the Senior Vice President and Chief Economist, Development Economics-is part of a larger effort in the Bank to examine institutional and cultural foundations of development across regions and countries.

Download or read book East Asia s Dynamic Development Model and the Republic of Korea s Experiences written by Ho-Chul Lee and published by . This book was released on 2016 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: No region has been more dynamic in recent years than East Asia. Despite its successful economic development, evaluations of the East Asian development model have often been capricious, shifting from quot;miraclequot; to quot;cronyism.quot; How can we explain East Asia's ups and downs consistently? To respond to this challenge, it is necessary to study the progress of East Asian development and to trace the influence of Asian cultural values. This study mainly focuses on cultural aspects of economic progress and analyzes East Asia's philosophical and historical backgrounds to explain the dynamic process.East Asians believe that balance between opposite but complementary forces, Yin and Yang, will ensure social stability and progress. Through repeated rebalancing to maintain harmony, the society comes to maturity. In traditional East Asian societies, a balance was maintained between Confucianism (Yang) and Taoism, Buddhism, and other philosophies (Yin). In modern societies, the challenge is to balance traditional systems (Yang) and Western style capitalism (Yin).This East Asian development model explains the Republic of Korea's rise, fall, and recovery. Korea was a poor country until the early 1960s, during the time when spiritualism (Yang) dominated. From the 1960s through the 1980s, Korea achieved rapid growth by finding a new balance and moving toward materialism (Yin) from spiritualism (Yang). But the failure to maintain a harmonious balance between cooperatism and collectivism (Yang) and individualism (Yin) led to major weaknesses in labor and financial markets that contributed significantly to the financial crisis in 1997. As Korea arrived at a new balance by instituting reform programs, the venture-oriented information and communication technology (ICT) industry blossomed and led to a rapid economic recovery. Since 2000, domestic financial scandals and political corruption have emerged as new social issues. Korea's next challenge is to find a new harmonization between moralism (Yang) and legalism (Yin).This paper - a product of the Office of the Senior Vice President and Chief Economist, Development Economics - is part of a larger effort in the Bank to examine institutional and cultural foundations of development across regions and countries.

Download or read book East Asian Development Model written by Shiping Hua and published by Routledge. This book was released on 2014-12-17 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the impressive growth in East Asia after World War II, initially led by Japan, the region's development models have been scrutinized since the 1980s. The shared Confucian cultural heritage, strong government guidance, and export led economies were often cited as contributors to the impressive growth. However, major changes have taken place in Asia on and around the turn of the century: Japan experienced two decades of economic slow-down, while World Bank figures reveal that China is poised to become the largest economy in the world in 2014, overtaking the United States. Bearing this in mind, is it even possible to formulate an East Asian development model in the context of a shifting twenty-first century? And if so, what is it? This book addresses this issue by looking at the economic, political and cultural perspectives of China, Japan and South Korea, focusing on dynamism and potential consensus regarding an East Asian development model. The chapters offer a historical background to the East Asian development model, as well as in-depth case studies of each of the countries concerned to show that whilst the East Asian development model does have distinct characteristics as compared with other areas, and other countries may draw some insights from the East Asian experience, it is not a panacea that fits all circumstances and fits all times. This book will be welcomed by students and scholars of Asian economics, Asian politics, international political economy and development studies.

Download or read book After Development Dynamics written by Anthony P. D'Costa and published by OUP Oxford. This book was released on 2015-07-30 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: The South Korean economic development trajectory has been widely studied and is well understood. From an impoverished war-torn nation, the country has progressed on all fronts, including a ten-fold increase in per capita income over a 40 year period. It stands out internationally when it comes to education and politically it has moved away from authoritarianism to a more spirited democratic system. In short, it seems to have achieved it all. The question then is, what does a country do after it has attained development? This volume examines Korea's strategic engagement with Asia as a response to the limits of the home market. Access to new markets and resources in Asia through exports and foreign investment are critical. Additionally, with Korea's ongoing demographic crisis, its engagement with foreign workers is also inevitable. After-Development Dynamics explores how Korea is responding through regional integration, strategic industrial upgrading of exports, foreign markets and resources, and coping with migrants, including unskilled workers, students, and professionals. The transfer of Korean business and employment practices through investment to other countries and accommodating foreigners is not trouble-free. Further, prosperity imposes demands for increased social welfare, while the workings of contemporary global capitalism introduce new sources of inequality. Sharing that prosperity with small firms, irregular workers, and women becomes critical. This volume presents the key internal challenges facing Korean society and suggests multiple ways to address them as a related response to Korea's after-development prosperity.

Download or read book The Korean Developmental State written by Kyung Mi Kim and published by Springer Nature. This book was released on 2020-04-25 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes, from a historical comparative perspective, the Korean economic development model, the extent to which it has changed from its classical model, and what constitutes its changes and continuity. Unlike studies claims the dissolution of Korean developmentalism, the book holds that the Korean state maintains its characteristics of state-led capitalism despite significant changes in policies and instruments rather than converge toward an AngloSaxon-style free market system. It emphasizes that the continuity of state-led capitalism is compatible with institutional change. Some institutionalists insist that the continuity of Korean developmentalism is based on path dependency. In contrast, this book argues that Korean capitalism could sustain its state developmentalism by changes in policies and instruments to improve national industrial competitiveness in the changed context of international competition. This book will be of interest to East Asian scholars, comparative economists, and those curious about the future of the Korean peninsula.

Download or read book The Economic Rise of East Asia written by Linda Glawe and published by Springer Nature. This book was released on 2022-01-01 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of the growing global economic importance of East Asia, this book analyzes and compares the extraordinary development paths and strategies of Japan, South Korea, and China. It examines both the factors that enabled these countries’ prolonged periods of high-speed economic growth, and the reasons for their subsequent “cool-downs.” In addition, the book illustrates how their development strategies served as role models for one another, and what current and future developing countries can learn from the East Asian success stories. This book will appeal to scholars and students of economics and development studies with an interest in the East Asian development model.

Download or read book Developmental States in East Asia written by Gordon White and published by Palgrave Macmillan. This book was released on 1988-04-21 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book analyses and evaluates the development role and impact of the state in East Asia, in both capitalist (South Korea and Taiwan) and socialist (China) contexts. It makes use of new research data on the mechanisms and impact of state intervention in East Asian development and presents an original theory, taking issue with the conventional view that East Asian development reflects the power of market forces.

Download or read book The East Asian Development Experience written by Ha-Joon Chang and published by Zed Books. This book was released on 2006 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: East Asia's development experience, at least until its crisis in 1997, has been a source of hope for other countries in the South. And in modern economic theory, it has been at the centre of the debate about how the role of the state relates to processes of intentional economic progress.

Download or read book East Asian Development written by Dwight H. Perkins and published by Harvard University Press. This book was released on 2013-10-28 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the early 1960s, fewer than five percent of Japanese owned automobiles, China’s per capita income was among the lowest in Asia, and living standards in South Korea’s rural areas were on par with some of the world’s poorest countries. Today, these are three of the most powerful economies on earth. Dwight Perkins grapples with both the contemporary and historical causes and consequences of the turnaround, drawing on firsthand experience in the region to explain how Asian countries sustained such rapid economic growth in the second half of the twentieth century. East Asian Development offers a comprehensive view of the region, from Japan and the “Asian Tigers” (Hong Kong, Singapore, Taiwan, South Korea) to Indonesia, Vietnam, Thailand, Malaysia, and China—a behemoth larger than all the other economies combined. While the overall picture of Asian growth is positive, no single economic policy has been effective regionwide. Interventionist policies that worked well in some countries failed elsewhere. Perkins analyzes income distribution, to uncover why initially egalitarian societies have ended up in very different places, with Japan, for example, maintaining a modest gap between rich and poor while China has become one of Asia’s most unequal economies. Today, the once-dynamic Japanese and Korean economies are sluggish, and even China shows signs of losing steam. Perkins investigates whether this is a regional phenomenon or typical of all economies at this stage of development. His inquiry reminds us that the uncharted waters of China’s vast economy make predictions of its future performance speculative at best.

Download or read book In Search of an East Asian Development Model written by Peter L. Berger and published by Transaction Pub. This book was released on 1988-01 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relevance of East Asian development experience to the less developed world crucially depends on whether an identifiable economic model underlies & largely explains the unquestionable economic success of the five nations of East Asia-Japan, Korea, Taiwan, Hong Kong, & Singapore-which are the subject of extensive analysis in this volume. If there is a model, is it transferable? There are two schools of thought on this question. Some believe that the explanation for East Asian economic success lies largely in the cultural realm: in values, institutional structures & social relations. Others maintain that economic success can largely be explained by the economic strategy these countries have adopted.

Download or read book The Korean Government and Public Policies in a Development Nexus Volume 1 written by Huck-ju Kwon and published by Springer Science & Business Media. This book was released on 2013-08-15 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the postwar period, Korea’s economic and social-political metamorphosis is a rare example of a successful transition from one of the world’s poorest developing countries to a highly sophisticated industrial society—an experience which many developing countries are keen to emulate. The change is particularly significant as Korea was able to reduce poverty and keep social inequality at a modest level during its rapid economic development. This volume analyzes the Korean transition in regards to the political and institutional foundation of its government and public policies. The government of Korea single-mindedly carried out public policies to stimulate economic growth, but the government and public policies have themselves been affected and changed by the process. The contention of this volume is that the transition of Korean society and the evolution of the Korean government are the results of two-way interactions. In this context, the volume analyzes the way in which the dynamics of public administration were shaped within the Korean government and the kinds of public policies and instruments that were adopted to encourage this economic and social development. This analysis will allow a more complete understanding of the economic and social transformation of Korea. Surprisingly, there is a paucity of research on this aspect—a gap which this volume seeks to fill. This volume shows that it is necessary to maintain consistency and coherence in government and public policy in order to achieve economic and social transformation, making it of interest to both scholars and policy-makers concerned with development in the Asia-Pacific.

Download or read book Case Studies in East Asian Economic Development written by Mary R. Evans and published by . This book was released on 1995 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the end of the Cold War, economic strength has become the leading symbol of power and means of achieving peace and stability. East Asia is widely viewed as the up-and-Coming economic power center. Examination of East Asian economic development can provide some useful insights into overall patterns of development and influence, and suggest the path to a post-Cold War world future of peace and prosperity. This thesis provides two representative case studies: the Republic of Korea and the People's Republic of China. These studies emphasize the importance of external (foreign) development assistance to modernization in lesser developed countries (LDCs) and the roles played by the United States and Japan as the world's major sources of such assistance. Findings include: (1) LDCs can make extensive use of foreign development assistance without losing control -- or sovereignty -- over their economies of the direction of their development; (2) mature, industrialized economies can provide large amounts of assistance to LDCs without destroying their own economic futures; (3) the experience of the East Asians can provide useful alternatives for LDCs worldwide; and (4) a partnership has emerged between the United States and Japan as sources of development assistance.

Download or read book The Role of Government in Economic Growth and Development written by Seung-Ho Kwon and published by Nova Science Publishers. This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book explores the economic development trajectories of South Korea and Vietnam, focusing on the role of the state in economic success amidst similarities and differences in their experiences. These are among the matters that this book explores through a systematic comparative analysis of economic development and the role of the state in South Korea and Vietnam. The results of this analysis provide lessons that will be useful for other developing countries as well as deepen our understanding of the development experiences of South Korea and Vietnam. The innovative nature of this book can be summarized as follows: First, this book engages a historical perspective in order to explore and understand the dynamics of the role of the government; this approach will be valuable to examine how the government has adapted to changes in environmental conditions during the process of development, industrialization and globalization. Thus, the development trajectories of each country have been examined according to three key stages. Secondly, the book uses a comparative method, comparing a wide range of economic, social and political development indicators between the two countries. The comparison between two very different East Asian countries with distinctive social, economic and political systems and at different stages of development can be instructive to show whether the state-led East Asian model has changed, evolved, diminished, or is in terminal decline. Finally, the book uses a qualitative method to generate comprehensive country case studies that are essential to uncover the specific dynamics underlying different development trajectories and outcomes"--

Download or read book New East Asian Economic Development written by Keun Lee and published by East Gate Book. This book was released on 1993 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In this economic tour de force, a talented young Korean scholar, trained in the United States and tested in various international fora, highlights the dynamism being displayed in East Asia in some of the world's most fascinating economies. In this set of interrelated essays, Dr. Keun Lee of Seoul National University evaluates the development experiences not only of some of the world's fastest growing economies, like South Korea, Taiwan, and more recently China, but also contrasts their performances with the more lethargic or hesitant pace in North Korea and the former Soviet Union. His theme is that these East Asian economies have a common feature in the active if not dominant role of the state in setting and implementing economic direction. Yet the more dynamic entities have also relied heavily on market interaction as their engine of growth. What policy lessons can the slower growing economies learn from their more dynamic neighbors, and what are some implications for the global economy from this continuing interaction? Dr. Lee makes no prediction as to the emergence of a particular doctrine. What he sees is that state activism will continue to drive growth in this strategic world region.In this economic tour de force, a talented young Korean scholar, trained in the United States and tested in various international fora, highlights the dynamism being displayed in East Asia in some of the world's most fascinating economies. In this set of interrelated essays, Dr. Keun Lee of Seoul National University evaluates the development experiences not only of some of the world's fastest growing economies, like South Korea, Taiwan, and more recently China, but also contrasts their performances with the more lethargic or hesitant pace in North Korea and the former Soviet Union. His theme is that these East Asian economies have a common feature in the active if not dominant role of the state in setting and implementing economic direction. Yet the more dynamic entities have also relied heavily on market interaction as their engine of growth. What policy lessons can the slower growing economies learn from their more dynamic neighbors, and what are some implications for the global economy from this continuing interaction? Dr. Lee makes no prediction as to the emergence of a particular doctrine. What he sees is that state activism will continue to drive growth in this strategic world region."--Page 4 of cover.

Download or read book Case Studies in East Asian Economic Development written by Mary R. Evans and published by . This book was released on 1995 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the end of the Cold War, economic strength has become the leading symbol of power and means of achieving peace and stability. East Asia is widely viewed as the up-and-Coming economic power center. Examination of East Asian economic development can provide some useful insights into overall patterns of development and influence, and suggest the path to a post-Cold War world future of peace and prosperity. This thesis provides two representative case studies: the Republic of Korea and the People's Republic of China. These studies emphasize the importance of external (foreign) development assistance to modernization in lesser developed countries (LDCs) and the roles played by the United States and Japan as the world's major sources of such assistance. Findings include: (1) LDCs can make extensive use of foreign development assistance without losing control -- or sovereignty -- over their economies of the direction of their development; (2) mature, industrialized economies can provide large amounts of assistance to LDCs without destroying their own economic futures; (3) the experience of the East Asians can provide useful alternatives for LDCs worldwide; and (4) a partnership has emerged between the United States and Japan as sources of development assistance.

Download or read book State Capitalism Institutional Adaptation and the Chinese Miracle written by Barry Naughton and published by Cambridge University Press. This book was released on 2015-06-09 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores how Chinese institutions have adapted to the new challenges of 'state capitalism'.

Download or read book International Housing Market Experience and Implications for China written by Rebecca L. H. Chiu and published by Taylor & Francis. This book was released on 2019-03-18 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent rapid housing market expansion in China is presenting new challenges for policy makers, planners, business people, and citizens. Now that housing in middle-income China is driven by consumer choices and is no longer dominated by state policy decisions, housing policy issues in Chinese cities are becoming increasingly similar to those encountered in other global housing markets. With soaring prices and imbalances in housing supply favoring high income groups and housing demand driven by rising inequality in household incomes, many middle and lower-income households face worsening choices in terms of the quality and location of their housing as well as greater financial difficulties, which together can have negative implications for standards of public health. This book examines the impact of these changes on the general population, as well as on aspiring homeowners and developers. The contributors look at the effect on the widening of wealth gaps, slower economic growth, and threats to political and social stability. Though focusing on China, the editors also present discussions of specific policy design challenges encountered in Australia, Japan, Korea, the Netherlands, the Nordic countries, Singapore, Taiwan, the UK, and the US. This book would be of interest to housing policy makers, as well as academics who are studying the social and political effects of the Chinese housing market.