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| Author: | Henderson, J. |
| Title: | Against the economic orthodoxy: on the making of the East Asian miracle |
| Journal: | Economy and Society
1993 : VOL. 22:2, p.200-217 |
| Index terms: | ASIA ECONOMIC THEORY INDUSTRIAL DEVELOPMENT ECONOMIC DYNAMICS |
| Language: | eng |
| Abstract: | The article contributes to the debate on the economic development of Japan and the newly industrialized countries of East Asia. It discusses the reasons why accounts derived from neoclassical economic theory have dominated explanations of industrialization in the region. By reference to three recent books on the development of South Korea, Taiwan, Hong Kong and Singapure, the article proceeds to mount a critique of the economic orthodox, arguing for a central role to be accorded to state influence and direction over the economy. It ends by suggesting that there are a number of elements in the East Asian model of development that could be creatively appropriated to inform strategies for economic rejuvenation elsewhere in the world. |
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