Japan and the Asian economies: a "miracle" in transition

Article Abstract:

The high economic growth experienced by East Asian countries during the 1980s and 1990s is being faced with the problem of how long these high growth rates can be sustained. The experiences of these economies have been called economic miracles because their prior condition seemed not to allow such growth, and because the growth rate is being sustained. It may be useful to study the Japanese economy, which recently started to experience stagnation after it had comparable growth rates from the 1950s until the early 1970s, in order to draw lessons from it and avoid the problems it had.

Japan

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Some missing elements

Article Abstract:

Not much has been written on the errors East Asian nations have made, especially in industrial policy decisions, despite the fact that several papers have been written on the East Asian economic growth miracle and the region's management of industrialization. The Japanese, prior to the economic stagnation they are experiencing now, had believed that industrial policy played a big part in their economic rise. Studies, however, show that policy was only a possible factor. Basic political stability is believed to have played a big part in the region's economic growth.

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Lessons from East Asia and the Pacific Rim

Article Abstract:

The economic growth experienced by East Asia may still continue, although it may slow down as economies of these nations approach the level of the advanced economies. There is still no agreement how to achieve and sustain such high economic growth, and some believe that all factors, including accumulation, education, policy and macroeconomic stability, are needed. Others believe that not all are necessary.

Similar abstracts:

• Abstracts: Capital flows to developing economies: implications for saving and investment. Economic growth in East Asia: accumulation versus assimilation

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