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What is Chapter Five. The Developmental Regime in a Changing World Economy about?

The phenomenal economic performances of Japan, South Korea, and Taiwan have attracted great attention from both policymakers and acade¬ mic analysts. How, it was asked, were countries such as Japan, South Korea, and Taiwan (as well as, in some analyses, Singapore, Hong Kong, and, sometimes, Malaysia and Thailand) able to achieve their high levels of macroeconomic growth while most other so-called less developed countries have languished in the world's economic backwaters? For many, interest in Asian success has been largely fear-driven: would Northeast Asian economic success come at the expense of the economic well-being of the West? For others, the response has been a call to "look East" for replicable models.1 2 Still others have examined the Asian experi¬ ence with an eye toward validating preconceived notions about the rela¬ tive power of "markets" or "the state."-Economic slowdowns in much of Asia abated some of the fears and blind admiration. Then, in the wake of the financial crises of the late 1990s, the world began to look to Asia more as a potential source of an "Asian contagion" that might threaten the world's economic stability than as a model for emulation. But only th

Author

T.J. Pempel

Published

2019

Language

EN