The objective of this chapter is to conduct a literature review of the Asian economic development model and its related strategic and supportive policy strands. To this end a meta-analysis has been attempted in this chapter. Its scope is broad and covers the developments in the Asian growth model during the post-World War II period. This chapter emphasizes that, in the process of implementing the export-led growth model, these dynamic Asian economies initiated liberal and market-oriented macroeconomic policy reforms. This strategy was responsible for trade expansion being regarded as an ‘engine of growth’. Under this model of economic growth, trade policy played a central role. It gradually became accepted wisdom that growth prospects for developing economies greatly improved by adopting outward-oriented trade regimes and fairly uniform incentives for production across exporting and import-substituting goods. The term ‘export-led growth’ can be interpreted as growth driven by net exports.
- Foreign Direct Investment
- Trade Policy
- Industrial Policy
- Total Factor Productivity Growth
- Asian Economy
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Das, D.K. (2015). The Asian Growth Model: A Meta-Analysis. In: An Enquiry into the Asian Growth Model. Palgrave Pivot, London. https://doi.org/10.1057/9781137529275_4
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