Sustaining Export-Oriented Development Ideas from East Asia

Sustaining Export-Oriented Development looks at the East Asian economies' postwar development and assesses the prospects and constraints to continuing at its current pace. The possibilities of transferring East Asian development elsewhere are also considered. While there is no single East Asian model, common elements are identified: an abundance of low-wage labour and free labour markets, an emphasis on health and education, trade liberalisation and export-oriented policies, financial market liberalisation (providing an environment conducive to private saving and investment), efficient capital utilisation and a focus on sound infrastructure. Written by leading economists, the book traces the changes in the thinking of policymakers and advisers about the policies required for economic development. In particular, it examines the shift in emphasis from import-substitution to outward orientation that has coincided with the East Asian economies' success.

This book, first published in 1995, looks at the East Asian economies' post-war development and assesses the possibilities of transferring East Asian development elsewhere. Written and edited by economists, Sustaining Export-Oriented Development traces the changes in the thinking of policy makers and advisers about the policies required for economic development - especially the changed emphasis from import-substitution to outward-orientation which coincided with the East Asian economies' success. Several contributors focus on identifying the key factors in the growth of these dynamic economies. Others look at future constraints such as the environmental limits to growth and the sustainability of export growth in China. This book makes a significant contribution to the discussion of economic growth and development issues and will be of interest to those in economics, trade and aid, and others concerned with public policy.

List of figures; List of tables; List of contributors; Dedication to Helen Hughes by H. W. Arndt; Editorial preface; 1. The role of trade in growth and development: theory and lessons from experience Anne O. Kruger; 2. The East Asian growth model: how general is it? Enzo Grilli and James Riedel; 3. Interrelationships between economic ideas and policy in the international institutions Richard H. Snape; 4. Government's role in East Asia's economic success Chia Siow Yue; 5. Trade policy and the globalisation of production Isaiah Frank; 6. East Asia in the international system: Asia Pacific economic co-operation and the challenge of discriminatory trade Ross Garnaut and Peter Drysdale; 7. Exchange rate regimes and outward-looking growth E. S. Leung; 8. Has development assistance aided development? - The Australian case Nancy Viviani; 9. Demographics and markets - are there limits to export promotion strategies? Philippa Dee and Christopher Findlay; 10. Sustaining China's remarkable exports and growth performance Yongzheng Yang; 11. Commodity terms of trade and instability Ron Duncan; 12. Agricultural policy: constraints to development Kym Anderson; 13. Environmental constraints on development and international rules David Robertson; Bibliography; Index.

This book analyses the remarkable post-war development of East Asian economies and assesses the prospects for copying this blueprint elsewhere. Leading economists examine the key factors and policy issues involved, especially the changed emphasis from import-substitution to outward-orientation.