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Conclusions

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Part of the Contributions to Economics book series (CE)

Abstract

East Asia’s fabulous economic catch-up process since the middle of the last century is still a mystery or even a miracle for many. In this Conclusion chapter, Glawe and Wagner again briefly summarize the extraordinary development paths of Japan, South Korea, and China and also describe the commonalities and differences in their reform strategies. Finally, they consider the book’s statements against the background of modern convergence or catch-up theory in development economics and identify topics for future research.

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Notes

  1. 1.

    At least, during the Cold War, India and the Soviet Union (USSR) had a strong strategic, military, economic, and diplomatic relationship.

  2. 2.

    However, the institutional legacy of the township and village enterprises (TVEs) enabled clusters of abundant small private firms managed by Township governments, which somehow resemble the conglomerate structures.

  3. 3.

    The question was, which of the two macropillars, monetary policy or fiscal policy, should be the leading force, and how should the coordination problem between the two be solved.

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Correspondence to Linda Glawe .

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© 2021 The Author(s), under exclusive license to Springer Nature Switzerland AG

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Glawe, L., Wagner, H. (2021). Conclusions. In: The Economic Rise of East Asia. Contributions to Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-87128-4_7

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