July 12, 2012
East Asian Miracle, Revisited
Andrew Sheng & Geng Xiao, Project Syndicate
Almost two decades ago, the World Bank published its landmark study The East Asian Miracle, analyzing why East Asian economies grew faster than emerging markets in Latin America, Africa, and elsewhere. These economies, the study concluded, achieved high growth rates by getting the basics right, promoting investment, nurturing human capital, and opening up to export manufacturing.
TAGGED: East Asia