During the past few decades the economies of East and South East Asia have grown at a significant rate, resulting in a large proportion of the world's population being relieved from poverty in a relatively short space of time. This unprecedented phenomena underlines the importance of understanding the driving forces behind the growth `miracle' of East Asia.
Yanrui Wu addresses some of the most critical macroeconomic issues associated with East Asian growth. Principally focusing on the most rapidly emerging economies in the region, the author covers a broad base of topics. Several determinants of growth are examined and in each case an analytical framework is applied to empirical data. Specific themes include:
* economic openness and growth
* stock market development
* intra-industry trade
* growth engines in Singapore
* productivity growth in Taiwan
* the Asian financial crisis.
Employing both cross-country analyses and case studies of individual economies, this important new book substantially contributes to the many debates surrounding economic growth in East Asia. The author's concise yet absorbing style will appeal to economic researchers, lecturers and students of economics, as well as business economists and market analysts.
Yanrui Wu, Professor in Economics, University of Western Australia, Australia
Contents: Preface 1. Introduction 2. Openness and Growth 3. The Impact of Stock Markets 4. Intra-Industry Trade 5. The Role of Productivity Growth 6. Mechanics of Growth: The Singaporean Experience 7. Asian Financial Crisis and Recovery Bibliography Index