1994
DOI: 10.1111/j.1467-8411.1994.tb00123.x
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The Role of Policy in Economic Development: comparisons of the East and Southeast Asian and Latin American experience

Abstract: This article surveys the literature comparing and contrasting economic development in Latin America and East Asia in the past twenty to thirty years. Growth has been conspicuously faster in East Asia. The main reason, it is generally agreed, is that most of the East Asian countries at an early stage adopted an export-oriented industrialization strategy, while the Latin American countries until recently clung to inward-looking import substitution. The benefits of outward-looking policies have been reinforced in… Show more

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Cited by 15 publications
(5 citation statements)
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“…Hence, export-driven growth is desirable. This observation is consistent with the focus on external trade in the development literature (Adams and Davis, 1994;Adams and Krkoska, 1996). A high level of unemployment during the initial period of transition is also natural.…”
Section: Discussionsupporting
confidence: 87%
“…Hence, export-driven growth is desirable. This observation is consistent with the focus on external trade in the development literature (Adams and Davis, 1994;Adams and Krkoska, 1996). A high level of unemployment during the initial period of transition is also natural.…”
Section: Discussionsupporting
confidence: 87%
“…The unit root tests confirm that all the series employed are integrated of order one, i.e. I (1). Therefore, the precondition for Phillips-Hansen's FM method is satisfied.…”
Section: B Database Methodology and Data Analysismentioning
confidence: 63%
“…This growth has been led, most noticeably, by China and India, but several other Asian countries play an important and vibrant role as well. For the next few decades, economic policy decisions in Asia, and in particular in the Association of Southeast Asian Nations (ASEAN) community, will have profound effects on East Asia's economic integration and on the global economy (Adams and Davis, 2004). The ASEAN region has experienced remarkable economic dynamism and is actively engaged in an ambitious scheme of regional integration.…”
Section: Introductionmentioning
confidence: 99%