Contemporary Economic Issues: Volume 1 Regional Experience by Justin Yifu Lin (eds.)

By Justin Yifu Lin (eds.)

A advisor to the studies financial reform because the moment international conflict, and approach reform and fiscal integration the world over some time past decade. the 1st a part of the e-book examines why just a small variety of constructing nations have succeeded of their modernization makes an attempt this century. What classes will be learnt from the successes of the East Asian NIEs and screw ups of alternative economies to emulate them? The very diverse stories of the transition to marketplace economies within the former socialist international locations of japanese Europe and China is the point of interest of the following part, with comparisons drawn with the Latin American reform adventure, particularly in Chile. the consequences of financial integration schemes are tested within the ultimate zone, with case-studies of Tunisia and Morocco's loose alternate Agreements with the european, and of monetary integration and the Arab-Israeli peace process.

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However, import restrictions - not by import permits or tariffs but by non-tariff barriers such as technological standards and government procurement procedures - seem to have helped domestic computer makers. This set the stage for trade conflict with the United States in the 1980s. 22 Industrial policy has thus changed its objectives and tools over time, both in selection of industries and tools of the policy. Japan has constantly upgraded its main engine from textile to light manufacturing, to heavy manufacturing and to high-tech industries.

Considering the extensive network of subcontracting, there must have been a strong orientation toward buyer's monopoly (monopsony) that makes small enterprise subcontractors prone to the exploitation by the parent company. According to Shinohara (1982, pp. 37-9), 'the flexible structure of business groups provides a cushion ... and Japan's success was achieved by harnessing the economy to a dynamic combination of flexibility and rigidity'. In Korea, the promotion of gigantic octopus-like conglomerates, in spite of the danger of resource waste arising from their rigid bureaucratic 12 Regional Experience method of management, was supposedly based on economies of scale as opposed to economies of specialization.

Kindleberger, Charles P. (1962) Foreign Trade and the National Economy (New Haven: Yale University Press). Komiya, Ryutaro (1992) 'Three Stages of Japan's Industrial Policy after the World War II', MITIIRI Discussion Paper, no. 92-DF-13 (March). Krugman, Paul (1994) 'The Myth of Asia's Miracle', Foreign Affairs, vol. 73, no. 6 (November/December), pp. 62-78. Kuo, Shirley W. Y. and John C. H. Fei (1985) 'Causes and Roles of Export Expansion in the Republic of China' , in Galenson (1985), pp. 45-84.

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