Skip to main content

Conclusions

  • 193 Accesses

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.

This is a preview of subscription content, access via your institution.

Buying options

Chapter
USD   29.95
Price excludes VAT (USA)
  • DOI: 10.1007/978-3-030-87128-4_7
  • Chapter length: 8 pages
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
eBook
USD   84.99
Price excludes VAT (USA)
  • ISBN: 978-3-030-87128-4
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Hardcover Book
USD   109.99
Price excludes VAT (USA)
Fig. 7.1

Source Maddison Database 2020, Bolt and van Zanden (2020). Notes GDP per capita adjusted for price changes over time (inflation) and price differences between countries (measured in international-$ in 2011 prices). East Asia here includes Japan, South Korea, Hong Kong, Taiwan, and China

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.

References

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Linda Glawe .

Rights and permissions

Reprints and Permissions

Copyright information

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

About this chapter

Verify currency and authenticity via CrossMark

Cite this chapter

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

Download citation