INDUSTRIAL DEVELOPMENT IN SINGAPORE, TAIWAN, AND SOUTH KOREA
by Kwong Kai-Sun (The Chinese University of Hong Kong), Chau Leung-Chuen (University of Hong Kong), Francis T Lui & Larry D Qiu (Hong Kong University of Science and Technology)
Economic analysis of the industrial experiences of the newly industrialized economies in Asia is generally lacking in the literature. This study attempts to fill that void by providing an in-depth discussion on the economic impact of the industrial policies of Singapore, Taiwan, and South Korea in the three-and-a-half decades after 1960.
Throughout the study, a broad perspective of macroeconomic development is maintained. It is highly critical of the narrow-minded objective of certain governments in maximizing the pace of industrialization at the expense of general economic well-being.
A comparative analysis of the industrial experiences of the three economies also shows a diversity of constraints and processes. Singapore relied on multinational corporations, Taiwan on returned engineers, and South Korea on chaebols. There appears to be no Asian formula for industrialization.
In Hong Kong, there is an ongoing debate on whether some form of industrial policy should be introduced, in view of the perception that Hong Kong is lagging behind the other economies in terms of technology. Drawing on the experiences of the other economies, the concluding chapter of the book provides an informed and balanced answer to this question.
Contents:
- Singapore: Dominance of Multinational Corporations
- Taiwan: Thriving
High-Technology Industries and SME
- South Korea: Government-Led Development and the Dominance of Giant Corporations
- Comparison Among Singapore, Taiwan, and South Korea
- Strategic Considerations in the Hong Kong Context
Readership: Researchers, policy-makers and undergraduates in economics and
East Asian Studies.
"With its critical appraisal of the negative effects of the industrial policies pursued by South Korea, Taiwan and Singapore, this book offers new insights into what, before the East Asian crisis, was considered an 'East Asian Miracle'."
| Asian-Pacific Economic Literature |
| 288pp |
Pub. date: Sept 2001 |
