Rise of East Asia and Crisis: An Institutional Analysis

Author: Ma Hongwei
Publisher:
Publish Date: 2005-09-01
Features: This book comprehensively analyzes the institutional reasons behind the ups and downs of economic development in East Asia after World War II. The government-led institutional model, as an innovation of colonial and semi-feudal economies, is conducive to leveraging latecomer advantages and the advantages of learning-by-doing institutional change, which brought about rapid economic development in East Asia. The failure to achieve timely institutional innovation is the fundamental cause of the East Asian financial crisis.