Skip to main content

After the Miracle: Neoliberalism and Institutional Reform in East Asia

  • Chapter
Neoliberalism and Institutional Reform in East Asia

Abstract

A miracle is an extraordinary event that happens in defiance of all expectations. For decades after the developmental miracle first occurred in East Asia, scholars and pundits have debated the origins of this miracle; and for decades after the Asian financial crisis, they will debate how this wonder came to a crashing end. Just as there is no definitive scholarly consensus on the origins, there is also likely to be little consensus on the end.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

eBook
USD 16.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Blustein, Paul (2003) The Chastening: Inside the Crisis That Rocked the Global Financial System and Humbled the IMF (Washington, DC: Public Affairs).

    Google Scholar 

  • Camdessus, Michel (1994) Second Generation Reforms: Reflections and New Challenges. Opening Remarks to IMF Conference on Second Generation Reforms, 8 November.

    Google Scholar 

  • Claessens, Stijn, Simeon Djankov, and Leora Klapper (1999) Resolution of Corporate Distress: Evidence from East Asia’s Financial Crisis, Working Paper No. 2133 (Washington, DC: The World Bank).

    Google Scholar 

  • Davis, Kevin and Michael J. Trebilcock (1999) What Role Do Legal Institutions Play in Development?, paper prepared for the International Monetary Fund’s Conference on Second Generation Reforms, Washington, DC, 8–9 November.

    Google Scholar 

  • Dore, R.P. (1986) Flexible Rigidities: Industrial Policy and Structural Adjustment in the Japanese Economy, 1970–1980 (Stanford, CA: Stanford University Press).

    Google Scholar 

  • Gerschenkron, A. (1962) Economic Backwardness in Historical Perspective (Cambridge, MA: Harvard University Press).

    Google Scholar 

  • Gourevitch, Peter (1996) ‘The Macropolitics of Microinstitutional Differences in the Analysis of Comparative Capitalism’. In Suzanne Berger and Ronald Dore (eds), National Diversity and Global Capitalism (Ithaca, NY: Cornell University Press).

    Google Scholar 

  • Hayek, Friedrich A. Von (1960) The Constitution of Liberty (Chicago: University of Chicago Press).

    Google Scholar 

  • Hayek, Friedrich A. Von (1944) The Road to Serfdom (Chicago: University of Chicago Press).

    Google Scholar 

  • Johnson, Chalmers (1995) Japan: Who Governs? — The Rise of the Developmental State (New York: W.W. Norton).

    Google Scholar 

  • Johnson, Chalmers (1982) MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925–1975 (Stanford, CA: Stanford University Press).

    Google Scholar 

  • Jomo, K.S. (2004) After the Storm: Crisis, Recovery and Sustaining Development in Four Asian Economies (Singapore: Singapore University Press).

    Google Scholar 

  • Kester, W. Carl (1996) ‘American and Japanese Corporate Governance: Convergence to Best Practice?’. In Suzanne Berger and Ronald Dore (eds), National Diversity and Global Capitalism (Ithaca, NY: Cornell University Press.

    Google Scholar 

  • Kindleberger, Charles (2005) Manias, Panics, and Crashes: A History of Financial Crises (Hoboken, NJ: John Wiley and Sons, Inc.).

    Book  Google Scholar 

  • Koo, Hagen (2001) Korean Workers: The Culture and Politics of Class Formation (Ithaca, NY: Cornell University Press).

    Google Scholar 

  • La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny (2000) ‘Investor Protection and Corporate Governance’, Journal of Financial Economics, 58, 3–27.

    Article  Google Scholar 

  • La Porta, Rafael, Florencio Lopez de Silanes, Andrei Shleifer and Robert W. Vishny (1999) ‘The Quality of Government,’ Journal of Law, Economics, and Organization, 15(1), 222–79.

    Article  Google Scholar 

  • Loriaux, Michael (1991) France after Hegemony: International Change and Financial Reform (Ithaca, NY: Cornell University Press).

    Google Scholar 

  • Merryman, John H., David S. Clark, and John Haley (eds) (1994) The Civil Law Tradition: Europe, Latin America, and East Asia (Charlottesville, VA: Michie Company).

    Google Scholar 

  • North, Douglass C. (1990) Institutions, Institutional Change and Economic Performance (New York: Cambridge University Press).

    Book  Google Scholar 

  • North, Douglass C. (1981) Structure and Change in Economic History (New York: Norton).

    Google Scholar 

  • Pistor, Katharina and Philip A. Wellons (1999) The Role of Law and Legal Institutions in Asian Economic Development: 1960–1995 (Hong Kong: Oxford University Press and the Asian Development Bank).

    Google Scholar 

  • Phongpaichit, Pasuk and Chris Baker (2004) Thaksin: The Business of Politics in Thailand (Charg Mai: Silkworm Books).

    Google Scholar 

  • Rajan, Raghuram G. and Luigi Zingales (2000) The Great Reversals: The Politics of Financial Development in the 20th Century, Working Paper.

    Book  Google Scholar 

  • Robison, Richard and Vedi R. Hadiz (2004) Reorganizing Power in Indonesia: The Politics of Oligarchy in an Age of Markets (London: Routledge Curzon).

    Book  Google Scholar 

  • Stiglitz, Joseph (2003) Globalization and Its Discontents (New York: W.W. Norton).

    Google Scholar 

  • Stiglitz, Joseph E. and Shahid Yusuf (eds) (2001) Rethinking the East Asian Miracle (New York: Oxford University Press).

    Google Scholar 

  • Suehiro, Akira (2001) Ajia Seiji keiziron: Ajia no naka no Nihon o Mezashite (Tokyo: NTT Shuppan).

    Google Scholar 

  • Wolfensohn, James (1999) Keynote Address at the IMF Conference on Second Generation Reforms, Washington, DC, 8 November.

    Google Scholar 

  • Woo-Cumings, Meredith (Meredith Jung-En Woo) (2001) Diverse Paths to the Right Institutions: Law, the State, and Economic Reform in East Asia, Working Paper no. 18 Asian Development Bank Institute).

    Google Scholar 

  • Woo-Cumings, Meredith (Meredith Jung-En Woo) (ed.) (1999) The Developmental State (Ithaca: Cornell University Press).

    Google Scholar 

  • Woo, Jung-en (Meredith Jung-En Woo) (1991) Race to the Swift: State and Finance in Korean Industrialization (New York: Columbia University Press, 1991).

    Google Scholar 

  • World Bank (1997) World Development Report 1997: The State in a Changing World (New York: Oxford University Press).

    Book  Google Scholar 

  • World Bank (1993) The East Asian Miracle: Economic Growth and Public Policy (New York: Oxford University Press).

    Google Scholar 

Download references

Authors

Editor information

Editors and Affiliations

Copyright information

© 2007 UNRISD

About this chapter

Cite this chapter

Woo, M.JE. (2007). After the Miracle: Neoliberalism and Institutional Reform in East Asia. In: Woo, M.JE. (eds) Neoliberalism and Institutional Reform in East Asia. Palgrave Macmillan, London. https://doi.org/10.1057/9780230590342_1

Download citation

Publish with us

Policies and ethics