The East Asian Development Experience by Ha-Joon Chang
The Miracle, the Crisis and the Future
A concise, critical reappraisal of the so‑called East Asian miracle, this study argues that the region’s rapid industrialization—particularly in Japan, South Korea, Taiwan, and Singapore—was driven by active state guidance, strategic protection, and targeted industrial policy rather than unfettered free markets. It explains how tools like infant‑industry support, export discipline, directed credit, and technology acquisition built domestic capabilities and enabled continual upgrading. It also reassesses the 1997 financial crisis and distills practical lessons for latecomer economies on sequencing reforms, balancing openness with learning, and designing institutions that foster long‑term development.
- Published
- 2006
- Nationality
- British
- Length
- Unknown
- Pages
- Unknown
- Original Language
- English
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