Download Free Growth And Adjustment In Asia Book in PDF and EPUB Free Download. You can read online Growth And Adjustment In Asia and write the review.

Strategic Adjustment and the Rise of China demonstrates how structural and domestic variables influence how East Asian states adjust their strategy in light of the rise of China, including how China manages its own emerging role as a regional great power. The contributors note that the shifting regional balance of power has fueled escalating tensions in East Asia and suggest that adjustment challenges are exacerbated by the politics of policymaking. International and domestic pressures on policymaking are reflected in maritime territorial disputes and in the broader range of regional security issues created by the rise of China.Adjusting to power shifts and managing a new regional order in the face of inevitable domestic pressure, including nationalism, is a challenging process. Both the United States and China have had to adjust to China's expanded capabilities. China has sought an expanded influence in maritime East Asia; the United States has responded by consolidating its alliances and expanding its naval presence in East Asia. The region's smaller countries have also adjusted to the rise of China. They have sought greater cooperation with China, even as they try to sustain cooperation with the United States. As China continues to rise and challenge the regional security order, the contributors consider whether the region is destined to experience increased conflict and confrontation.ContributorsIan Bowers, Norwegian Defence University College and Norwegian Institute for Defence Studies Daniel W. Drezner, Tufts University, Brookings Institution, and Washington Post Taylor M. Fravel, Massachusetts Institute of Technology Bjørn Elias Mikalsen Grønning, Norwegian Defence University College and Norwegian Institute for Defence Studies Chung-in Moon, Yonsei University and Chairman, Presidential Committee on Northeast Asia Cooperation Initiative, Republic of Korea James Reilly, University of Sydney Robert S. Ross, Boston College and Harvard University Randall L. Schweller, The Ohio State University ystein Tunsjø, Norwegian Defence University College and the Norwegian Institute for Defence Studies Wang Dong, Peking University
Considering the examples of Australia and the Pacific Rim, Growth and Productivity in East Asia offers a contemporary explanation for national productivity that measures contributions not only from capital and labor, but also from economic activities and relevant changes in policy, education, and technology. Takatoshi Ito and Andrew K. Rose have organized a group of collaborators from several Asian countries, the United States, and other parts of the globe who ably balance both macroeconomic and microeconomic study with theoretical and empirical approaches. Growth and Productivity in East Asia gives special attention to the causes for the unusual success of Australia, one of the few nations to maintain unprecedented economic growth despite the 1997 Asian financial crisis and the 2001 global downturn. A new database comprising eighty-four Japanese sectors reveals new findings for the last thirty years of sectoral productivity and growth in Japan. Studies focusing on Indonesia, Taiwan, and Korea also consider productivity and its relationship to research and development, foreign ownership, and policy reform in such industries as manufacturing, automobile production, and information technology.
Kevin Watkins analyses the manner in which the economies of East Asia have attained high economic growth rates and managed to share the prosperity widely. A caveat is included as some groups have been excluded from these benefits on ethnic grounds.
'This book provides a coherent and current account of how India, Indonesia, Malaysia, Thailand, the Philippines and the People's Republic of China coped with the Asian financial crisis of the 1990s and the recent global economic recession, and how they may address future challenges in maintaining growth in difficult times. It features a valuable overview of issues from a regional perspective, five chapters on general elements and obstacles in development, and individual chapters on the experience of each of the six countries. Every chapter is replete with relevant institutional and statistical data. The volume fills a void in the literature and is highly recommended for graduate students and for economists concerned with contemporary Asia.' – Peter Drake, The University of New England and Australian Catholic University, Australia 'To understand what makes Asia tick in the face of continuing global uncertainty and instability one has to go beyond numbers into the region's psyche and idiosyncrasies. This volume provides an interestingly intrusive and refreshingly insightful analysis of a highly complex phenomenon that defies generalizations as shown by the diversity of individual country experiences.' – Mohamed Ariff, International Centre for Education in Islamic Finance (INCEIF), Malaysia The center of global economic activity is shifting rapidly towards Asia, driven by a combination of the economic dynamism of the People's Republic of China, India, and other middle-income Asian countries, and sluggish growth in the OECD economies. The rapid growth and rising global prominence have raised a range of major challenges for Asia and for the rest of the world. This comprehensive, forward-looking book examines these issues through in-depth studies of major Asian economies and an analysis of the key development policy options. The contributors, leading international authorities in their field, explore cross-cutting thematic issues with special reference to developing Asia. They address a broad range of subjects including: investment and productivity, savings and the savings–investment relationship, financial development, the provision of infrastructure, and governance and institutions. Detailed country studies focusing on the People's Republic of China, India, Indonesia, Malaysia, the Philippines, and Thailand not only provide an analytical narrative for each case study, but also draw attention to the similarities and diversity within the region. This challenging and thought-provoking book will prove an important point of reference for scholars, researchers, and students in the fields of economics, development economics, and Asian studies.
This book explains why governments respond differently to macroeconomic problems and why necessary reforms are sometimes delayed until a serious financial crisis erupts. It argues that voter vulnerability to different reform strategies varies, and that these vulnerabilities influence the type and timing of governments' policy responses to economic crises. Empirical analyses at both the individual level across a broad range of countries and case studies of national policy responses to financial and economic crises in Asia and Eastern Europe support the argument.
We test the effect of foreign direct investment (FDI) on economic growth in a cross-country regression framework, utilizing data on FDI flows from industrial countries to 69 developing countries over the last two decades. Our results suggest that FDI is an important vehicle for the transfer of technology, contributing relatively more to growth than domestic investment. However, the higher productivity of FDI holds only when the host country has a minimum threshold stock of human capital. In addition, FDI has the effect of increasing total investment in the economy more than one for one, which suggests the predominance of complementarity effects with domestic firms.
The Asian financial crisis of 1997–1998 was supposed to be the death knell for the developmental state. The International Monetary Fund supplied emergency funds for shattered economies but demanded that states liberalize financial markets and withdraw from direct involvement in the economy. Financial liberalization was meant to spell the end of strategic industry policy and the state-directed "policy lending" it involved. Yet, largely unremarked by analysts, South Korea has since seen a striking revival of financial activism. Policy lending by state-owned development banks has returned the state to the core of the financial system. Korean development banks now account for one quarter of all loans and take the lead in providing low-cost finance to local manufacturing firms in strategic industries.Elizabeth Thurbon argues that an ideational analysis can help explain this renewed financial activism. She demonstrates the presence of a "developmental mindset" on the part of political leaders and policy elites in Korea. This mindset involves shared ways of thinking about the purpose of finance and its relationship to the productive economy. The developmental mindset has a long history in Korea but is subject to the vicissitudes of political and economic circumstances. Thurbon traces the structural, institutional, political, and ideational factors that have strengthened and at times weakened the developmental consensus, culminating in the revival of financial activism in Korea. In doing so, Thurbon offers a novel defense of the developmental state idea and a new framework for investigating the emergence and evolution of developmental states. She also canvasses the implications of the Korean experience for wider debates concerning the future of financial activism in an era of financialization, energy insecurity, and climate change.
A comparative study which describes and analyses the contribution of agriculture to the economies of East Asia. Until now, little attention has been paid to the agricultural sector which actually underpins industrial and commercial development. Recently, this sector has become the focus of increasingly bitter economic disputes, especially over protection and the use of import tariffs. A comparative framework is used, employing case studies from Japan, Taiwan and South Korea to highlight both the common characteristics of agriculture's role in East Asian development, and features particular to the political economy of agriculture in each country.