This important book develops an evolutionary conception of growth in East Asia, in which technology, organizations and institutions interact and co-evolve to advance productivity. Episodic crises are seen as disruptions which bring to the fore structural and institutional flaws that need reform.
The author begins with a thorough analysis of the neo-classical theory of technical change and shows that it fails to capture crucial aspects of the various learning processes involved. He goes on to develop a comprehensive framework for understanding technological progress. Productivity growth is seen as deriving from knowledge hard-coded in equipment and structures, and soft-coded in human skill, organizations and institutions that guide economic activity. The role of exports in promoting faster growth is also examined, as are the channels of technological capability acquisition.
This book will be welcomed by academics, policymakers, students, government bodies and business people interested in East Asian growth and in understanding technological change in general.
G. Chris Rodrigo, Independent consultant presently on assignment with UNIDO
Contents: 1. Aspects of the East Asian Puzzle: Miracle Growth and Crises 2. Sources and Measures of Growth 3. The Puzzle of TFP Growth in East Asia 4. Empirics of the Trade-Growth Nexus 5. East Asia in the Evolution of Development Thinking 6. What Drives Industrial Productivity? 7. The Acquisition of Technological Capability by Firms and Nations in East Asia 8. The East Asian Crises of 1997-8 9. East Asia and Development Policy Bibliography Index