Anthony P. D'Costa (ed.)
- Published in print:
- 2015
- Published Online:
- November 2015
- ISBN:
- 9780198729433
- eISBN:
- 9780191796340
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198729433.001.0001
- Subject:
- Economics and Finance, South and East Asia, Development, Growth, and Environmental
South Korea’s 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 ...
More
South Korea’s 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 forty-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 is, what does a country do after it has attained development? This volume addresses this question by examining 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. This volume takes a collective look at 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 ends with a roundup of the key internal challenges facing Korean society and suggests the multiple ways to address them as a related response to Korea’s after-development prosperity.Less
South Korea’s 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 forty-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 is, what does a country do after it has attained development? This volume addresses this question by examining 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. This volume takes a collective look at 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 ends with a roundup of the key internal challenges facing Korean society and suggests the multiple ways to address them as a related response to Korea’s after-development prosperity.
Naomi Hossain
- Published in print:
- 2017
- Published Online:
- March 2017
- ISBN:
- 9780198785507
- eISBN:
- 9780191827419
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198785507.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental, South and East Asia
From an unpromising start as ‘the basket case’ to present-day plaudits for its human development achievements, Bangladesh plays an ideological role in the contemporary world order, offering proof ...
More
From an unpromising start as ‘the basket case’ to present-day plaudits for its human development achievements, Bangladesh plays an ideological role in the contemporary world order, offering proof that the neo-liberal development model works under the most testing conditions. How were such rapid gains possible in a context of chronically weak governance? The Aid Lab subjects this so-called ‘Bangladesh paradox’ to close scrutiny, evaluating public policies and their outcomes for poverty and development since Bangladesh’s independence in 1971. Countering received wisdom that its gains owe to an early shift to market-oriented economic reform, it argues that a binding political settlement, a social contract to protect against the crises of subsistence and survival, united the elite, the masses, and their aid donors in the wake of the devastating famine of 1974. This laid resilient foundations for human development, fostering a focus on the poorest and most precarious, and in particular on the concerns of women. In chapters examining the environmental, political, and socioeconomic crisis of the 1970s, the book shows how the lessons of the famine led to a robustly pro-poor growth and social policy agenda, empowering the Bangladeshi state and its non-governmental organizations to protect and enable its population to thrive in its engagements in the global economy. Now a middle-income country, Bangladesh’s role as the world’s laboratory for aided development has generated lessons well beyond its borders, and Bangladesh continues to carve a pioneering pathway through the risks of global economic integration and climate change.Less
From an unpromising start as ‘the basket case’ to present-day plaudits for its human development achievements, Bangladesh plays an ideological role in the contemporary world order, offering proof that the neo-liberal development model works under the most testing conditions. How were such rapid gains possible in a context of chronically weak governance? The Aid Lab subjects this so-called ‘Bangladesh paradox’ to close scrutiny, evaluating public policies and their outcomes for poverty and development since Bangladesh’s independence in 1971. Countering received wisdom that its gains owe to an early shift to market-oriented economic reform, it argues that a binding political settlement, a social contract to protect against the crises of subsistence and survival, united the elite, the masses, and their aid donors in the wake of the devastating famine of 1974. This laid resilient foundations for human development, fostering a focus on the poorest and most precarious, and in particular on the concerns of women. In chapters examining the environmental, political, and socioeconomic crisis of the 1970s, the book shows how the lessons of the famine led to a robustly pro-poor growth and social policy agenda, empowering the Bangladeshi state and its non-governmental organizations to protect and enable its population to thrive in its engagements in the global economy. Now a middle-income country, Bangladesh’s role as the world’s laboratory for aided development has generated lessons well beyond its borders, and Bangladesh continues to carve a pioneering pathway through the risks of global economic integration and climate change.
Alice H. Amsden
- Published in print:
- 1992
- Published Online:
- November 2003
- ISBN:
- 9780195076035
- eISBN:
- 9780199870691
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195076036.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental, South and East Asia
South Korea has been quietly growing into a major economic force that is even challenging some Japanese industries. This book examines South Korean economic growth as an example of “late ...
More
South Korea has been quietly growing into a major economic force that is even challenging some Japanese industries. This book examines South Korean economic growth as an example of “late industrialization,” a process in which a nation's industries learn from earlier innovator nations rather than innovate themselves. Discussing state intervention, shop‐floor management, and big business groups, the reasons are explored for South Korea's phenomenal growth, paying special attention to the principle of reciprocity in which the government imposes strict performance standards on those industries and companies that it aids. It is shown thereby how South Korea, Japan, and Taiwan were able to grow faster than other emerging nations such as Brazil, Turkey, India, and Mexico. The book is arranged in three main parts: Part 1 surveys South Korean history and the origins of state policies that led to the successes of its late industrialization; Part 2 examines the ways in which the South Korean management and workforce were transformed into major factors in the growth of its industry; and Part 3 discusses the creation of comparative advantage in several industries and the reasons why only one kept pace with expansion while the others drove it.Less
South Korea has been quietly growing into a major economic force that is even challenging some Japanese industries. This book examines South Korean economic growth as an example of “late industrialization,” a process in which a nation's industries learn from earlier innovator nations rather than innovate themselves. Discussing state intervention, shop‐floor management, and big business groups, the reasons are explored for South Korea's phenomenal growth, paying special attention to the principle of reciprocity in which the government imposes strict performance standards on those industries and companies that it aids. It is shown thereby how South Korea, Japan, and Taiwan were able to grow faster than other emerging nations such as Brazil, Turkey, India, and Mexico. The book is arranged in three main parts: Part 1 surveys South Korean history and the origins of state policies that led to the successes of its late industrialization; Part 2 examines the ways in which the South Korean management and workforce were transformed into major factors in the growth of its industry; and Part 3 discusses the creation of comparative advantage in several industries and the reasons why only one kept pace with expansion while the others drove it.
Randall Peerenboom
- Published in print:
- 2008
- Published Online:
- October 2011
- ISBN:
- 9780199226122
- eISBN:
- 9780191696183
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199226122.001.0001
- Subject:
- Economics and Finance, South and East Asia
Two sharply contrasting views of China exist today. On the one hand a rising superpower predicted to have the largest economy in the world by mid century, on the other hand a brutal, anachronistic ...
More
Two sharply contrasting views of China exist today. On the one hand a rising superpower predicted to have the largest economy in the world by mid century, on the other hand a brutal, anachronistic and authoritarian regime, a threat to geo-stability and to the economies of the industrial world. So which China is the real China? The author addresses this question by exploring China's economy, political and legal system, and most controversially, its record on civil, political, and personal rights in the context of the developing world. Avoiding polemic and relying on empirical evidence, he compares China's performance not with first world countries such as the US and UK, but with other middle income countries, and highlights the often hypocritical stance of an international community that demands standards from others that it does not match at home. He also critically evaluates the benefits of globalization and democratization, and the normative values of the West set against Beijing's determination to retain its cultural and political integrity. This book seeks to bridge the gap in understanding China and to create a firmer foundation for mutual trust, while recognizing that there are inevitable risks in a shift in global power of this magnitude that will require hard-headed pragmatism at times where interests collide.Less
Two sharply contrasting views of China exist today. On the one hand a rising superpower predicted to have the largest economy in the world by mid century, on the other hand a brutal, anachronistic and authoritarian regime, a threat to geo-stability and to the economies of the industrial world. So which China is the real China? The author addresses this question by exploring China's economy, political and legal system, and most controversially, its record on civil, political, and personal rights in the context of the developing world. Avoiding polemic and relying on empirical evidence, he compares China's performance not with first world countries such as the US and UK, but with other middle income countries, and highlights the often hypocritical stance of an international community that demands standards from others that it does not match at home. He also critically evaluates the benefits of globalization and democratization, and the normative values of the West set against Beijing's determination to retain its cultural and political integrity. This book seeks to bridge the gap in understanding China and to create a firmer foundation for mutual trust, while recognizing that there are inevitable risks in a shift in global power of this magnitude that will require hard-headed pragmatism at times where interests collide.
Barry Eichengreen, Yung Chul Park, and Charles Wyplosz (eds)
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199235889
- eISBN:
- 9780191717109
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199235889.001.0001
- Subject:
- Economics and Finance, South and East Asia
The rise of Asia, and China specifically, is the single most important force reshaping the world economy at the beginning of the 21st century. From a low of 20% in 1950, Asia's share of global GDP ...
More
The rise of Asia, and China specifically, is the single most important force reshaping the world economy at the beginning of the 21st century. From a low of 20% in 1950, Asia's share of global GDP has now risen to 33% and will exceed 40% within a generation if current forecasts are realized. Asia's growing weight in the world economy is elevating it to a central position in global economic and financial affairs. The potential global impact of this astonishing growth is far reaching, from oil markets and the environment to a reshaping of trade relations in the current multilateral system dominated by the WTO. This collection of chapters written by leading economists explores the likely impact of the rapid growth in the East Asian economies, and in particular China, on the world economy in the coming decades and the consequent challenges for the development of trade, macroeconomic, and environmental policy.Less
The rise of Asia, and China specifically, is the single most important force reshaping the world economy at the beginning of the 21st century. From a low of 20% in 1950, Asia's share of global GDP has now risen to 33% and will exceed 40% within a generation if current forecasts are realized. Asia's growing weight in the world economy is elevating it to a central position in global economic and financial affairs. The potential global impact of this astonishing growth is far reaching, from oil markets and the environment to a reshaping of trade relations in the current multilateral system dominated by the WTO. This collection of chapters written by leading economists explores the likely impact of the rapid growth in the East Asian economies, and in particular China, on the world economy in the coming decades and the consequent challenges for the development of trade, macroeconomic, and environmental policy.
Linda Yueh
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199205783
- eISBN:
- 9780191752018
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199205783.001.0001
- Subject:
- Economics and Finance, South and East Asia
China’s economic growth has transformed the country from one of the poorest in the world to its second largest economy. The drivers of growth remain elusive, as the country is affected by both its ...
More
China’s economic growth has transformed the country from one of the poorest in the world to its second largest economy. The drivers of growth remain elusive, as the country is affected by both its transition from central planning and the challenges of a developing country. This book examines the main themes of growth, offering micro-level evidence to shed light on the macro drivers of the economy. It also focuses on law and informal institutions of the economy to highlight the importance of entrepreneurship and the development of the private sector.Less
China’s economic growth has transformed the country from one of the poorest in the world to its second largest economy. The drivers of growth remain elusive, as the country is affected by both its transition from central planning and the challenges of a developing country. This book examines the main themes of growth, offering micro-level evidence to shed light on the macro drivers of the economy. It also focuses on law and informal institutions of the economy to highlight the importance of entrepreneurship and the development of the private sector.
John Knight and Sai Ding
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199698691
- eISBN:
- 9780191739118
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199698691.001.0001
- Subject:
- Economics and Finance, South and East Asia, Financial Economics
How has the Chinese economy managed to grow at such a remarkable rate — no less than ten per cent per annum — for over three decades? This book combines economic theory, empirical estimation, and ...
More
How has the Chinese economy managed to grow at such a remarkable rate — no less than ten per cent per annum — for over three decades? This book combines economic theory, empirical estimation, and institutional analysis to address one of the most important questions facing contemporary economists. A common thread that runs throughout the book is the underlying political economy: why China became a ‘developmental state’, and how it has maintained itself as a ‘developmental state’. The book examines the causal processes at work in the evolution of China's institutions and policies. It estimates cross-country and cross-province growth equations to shed light on the proximate, and some of the underlying, determinants of the growth rate. It explores important consequences of China's growth, posing a series of key questions, such as: Is the economy running out of unskilled labour? Why and how has inequality risen; has economic growth raised happiness? What are the social costs of the overriding priority accorded to growth objectives? Can China continue to grow rapidly, or will the maturing economy, or the macroeconomic imbalances, or financial crisis, or social instability, bring it to an end?Less
How has the Chinese economy managed to grow at such a remarkable rate — no less than ten per cent per annum — for over three decades? This book combines economic theory, empirical estimation, and institutional analysis to address one of the most important questions facing contemporary economists. A common thread that runs throughout the book is the underlying political economy: why China became a ‘developmental state’, and how it has maintained itself as a ‘developmental state’. The book examines the causal processes at work in the evolution of China's institutions and policies. It estimates cross-country and cross-province growth equations to shed light on the proximate, and some of the underlying, determinants of the growth rate. It explores important consequences of China's growth, posing a series of key questions, such as: Is the economy running out of unskilled labour? Why and how has inequality risen; has economic growth raised happiness? What are the social costs of the overriding priority accorded to growth objectives? Can China continue to grow rapidly, or will the maturing economy, or the macroeconomic imbalances, or financial crisis, or social instability, bring it to an end?
Eric Harwit
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199233748
- eISBN:
- 9780191715556
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199233748.001.0001
- Subject:
- Economics and Finance, South and East Asia
China's telecommunications industry has seen revolutionary transformation and growth over the past three decades. Chinese Internet users number more than 150 million, and the PRC expects to quickly ...
More
China's telecommunications industry has seen revolutionary transformation and growth over the past three decades. Chinese Internet users number more than 150 million, and the PRC expects to quickly pass the US in total numbers of connected citizens. The number of mobile and fixed-line telephone users soared from a mere 2 million in 1980 to a total of more than 800 million in 2007 — the country took the number one rank in the world in the number of telephones. China has been the most successful developing nation in history for spreading telecommunications access at an unparalleled rapid pace. This book tells how China conducted its remarkable ‘telecommunications revolution’. It examines both corporate and government policy to get citizens connected to both voice and data networks. It looks at the potential challenges to the one-party government when citizens get this access. And it considers the new opportunities for networking now offered the people of one of the world's fastest growing economies. The book is based on the author's fieldwork conducted in several Chinese cities, as well as extensive archival research. It focuses on key issues such as building and running the country's Internet, mobile phone company rivalry, foreign investment in the sector, and telecommunications in China's vibrant city of Shanghai. It also considers the country's internal ‘digital divide’, and questions how equitable the telecommunications revolution has been. Finally, it examines the ways the PRC's entry to the World Trade Organization will shape the future course of telecommunications growth.Less
China's telecommunications industry has seen revolutionary transformation and growth over the past three decades. Chinese Internet users number more than 150 million, and the PRC expects to quickly pass the US in total numbers of connected citizens. The number of mobile and fixed-line telephone users soared from a mere 2 million in 1980 to a total of more than 800 million in 2007 — the country took the number one rank in the world in the number of telephones. China has been the most successful developing nation in history for spreading telecommunications access at an unparalleled rapid pace. This book tells how China conducted its remarkable ‘telecommunications revolution’. It examines both corporate and government policy to get citizens connected to both voice and data networks. It looks at the potential challenges to the one-party government when citizens get this access. And it considers the new opportunities for networking now offered the people of one of the world's fastest growing economies. The book is based on the author's fieldwork conducted in several Chinese cities, as well as extensive archival research. It focuses on key issues such as building and running the country's Internet, mobile phone company rivalry, foreign investment in the sector, and telecommunications in China's vibrant city of Shanghai. It also considers the country's internal ‘digital divide’, and questions how equitable the telecommunications revolution has been. Finally, it examines the ways the PRC's entry to the World Trade Organization will shape the future course of telecommunications growth.
Michael T. Rock and Michael Toman
- Published in print:
- 2015
- Published Online:
- January 2015
- ISBN:
- 9780199385324
- eISBN:
- 9780199385348
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199385324.001.0001
- Subject:
- Economics and Finance, South and East Asia, International
Since 1978 China has been remarkably successful in reducing the CO2 intensity of GDP and industry. The book shows how China’s industrial and technology policies affecting four energy-intensive ...
More
Since 1978 China has been remarkably successful in reducing the CO2 intensity of GDP and industry. The book shows how China’s industrial and technology policies affecting four energy-intensive industries—aluminum, cement, iron and steel, and paper—have transformed industrial structure within these industries and technological capabilities within enterprises in these industries, and how both types of changes have put each of these industries on substantially lower CO2 emissions trajectories. These conclusions are demonstrated through four lines of analysis. The first is several detailed enterprise-level case studies to document the link between enterprise-level investments in technological learning and CO2 intensity. The second is econometric analysis using a KLEM-type model of energy intensity and a large database of enterprises to formally test the hypothesis that enterprises’ own investments in technology learning contributed to lower energy intensities. Third is a comparison of China’s experience in one industry, cement, to that industry in Indonesia, where concern for technological catch-up and energy efficiency has been less pressing. Finally, the book provides industry-wide estimates of CO2 savings from specific technological innovations in each of the four industries and compares them to a business-as-usual scenario. The estimates show that CO2 emissions in these four industries were 45% lower than they would have been in the absence of the technological changes identified. If these CO2 savings had not occurred, the world’s CO2 emissions would have been 10% higher in 2010.Less
Since 1978 China has been remarkably successful in reducing the CO2 intensity of GDP and industry. The book shows how China’s industrial and technology policies affecting four energy-intensive industries—aluminum, cement, iron and steel, and paper—have transformed industrial structure within these industries and technological capabilities within enterprises in these industries, and how both types of changes have put each of these industries on substantially lower CO2 emissions trajectories. These conclusions are demonstrated through four lines of analysis. The first is several detailed enterprise-level case studies to document the link between enterprise-level investments in technological learning and CO2 intensity. The second is econometric analysis using a KLEM-type model of energy intensity and a large database of enterprises to formally test the hypothesis that enterprises’ own investments in technology learning contributed to lower energy intensities. Third is a comparison of China’s experience in one industry, cement, to that industry in Indonesia, where concern for technological catch-up and energy efficiency has been less pressing. Finally, the book provides industry-wide estimates of CO2 savings from specific technological innovations in each of the four industries and compares them to a business-as-usual scenario. The estimates show that CO2 emissions in these four industries were 45% lower than they would have been in the absence of the technological changes identified. If these CO2 savings had not occurred, the world’s CO2 emissions would have been 10% higher in 2010.
Robert M. Uriu
- Published in print:
- 2009
- Published Online:
- February 2010
- ISBN:
- 9780199280568
- eISBN:
- 9780191712814
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199280568.001.0001
- Subject:
- Economics and Finance, South and East Asia
This book chronicles how a controversial set of policy assumptions about the Japanese economy, known as revisionism, rose to become the basis of the trade policy approach of the Clinton ...
More
This book chronicles how a controversial set of policy assumptions about the Japanese economy, known as revisionism, rose to become the basis of the trade policy approach of the Clinton administration. In the context of deep-rooted fears over Japan's increasing economic strength, revisionists argued that Japan represented a distinctive form of capitalism that was inherently closed to imports and that posed a threat to U.S. high-tech industries. Revisionists advocated a “managed trade” solution in which the Japanese government would be forced to set aside a share of the market for foreign goods. The author describes the role that various American academics, government officials, and business leaders played in developing revisionist thought. The revisionist drumbeat grew loudest just as the Clinton administration came into office. The author uses extensive interviews with policy makers to trace the internal discussions inside the Clinton White House, which culminated in the adoption of revisionist assumptions and then to demands for “results-oriented” trade agreements during the Framework negotiations. Japan, however, refused to accept these managed trade solutions, and fought to discredit revisionism and to rally global support against American unilateralism. Despite a history of caving in to U.S. pressures, this time the Japanese held firm even in the face of an historic failure of a bilateral summit in 1994 and the threat of sanctions against Japanese autos in 1995. In the end, it was the U.S. that folded; for the first time ever, Japan said “no,” and in the process beat back America's demands for managed trade once and for all.Less
This book chronicles how a controversial set of policy assumptions about the Japanese economy, known as revisionism, rose to become the basis of the trade policy approach of the Clinton administration. In the context of deep-rooted fears over Japan's increasing economic strength, revisionists argued that Japan represented a distinctive form of capitalism that was inherently closed to imports and that posed a threat to U.S. high-tech industries. Revisionists advocated a “managed trade” solution in which the Japanese government would be forced to set aside a share of the market for foreign goods. The author describes the role that various American academics, government officials, and business leaders played in developing revisionist thought. The revisionist drumbeat grew loudest just as the Clinton administration came into office. The author uses extensive interviews with policy makers to trace the internal discussions inside the Clinton White House, which culminated in the adoption of revisionist assumptions and then to demands for “results-oriented” trade agreements during the Framework negotiations. Japan, however, refused to accept these managed trade solutions, and fought to discredit revisionism and to rally global support against American unilateralism. Despite a history of caving in to U.S. pressures, this time the Japanese held firm even in the face of an historic failure of a bilateral summit in 1994 and the threat of sanctions against Japanese autos in 1995. In the end, it was the U.S. that folded; for the first time ever, Japan said “no,” and in the process beat back America's demands for managed trade once and for all.
Monetary and Financial Cooperation in East Asia
