Econ 4450 (2010) Note 2

Econ 4450 (2010) Note 2 - Econ 4450(2010 Note 2 1 The...

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Econ 4450 (2010) Note 2 1
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2 The possibility of piecemeal adoption and adaptation to  events is often remarked upon: For Japan, Korea, Taiwan, Singapore and  China, this  has been the case. But each is the implementation of some visionary  blueprint . The blueprints often differ from each other  across the economies.  The difference is the source for  international trade.  
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According to Kikkawa and Hikino (1999), “If rapid economic growth is the product of a well-organized and articulate industrial policy, led by a competent bureaucracy, that is the experience of South Korea and Taiwan (and possibly China), not Japan.” 3
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According to Jones and Sakong (1980, 63): “The Korean bureaucrats of economic affairs are undoubtedly geniuses of extemporization. They come up with new measures, institutions and regulations in a dizzying speed only to change them almost daily afterwards, Korean bureaucrats deserve to be called actors of thinking while running.” 4
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According to Kuo (1999, 44), “[G]overnment policies in Taiwan were, in general, case by case innovations instituted in response to impending economic problems. Yet when we look back, we see them as if they were systematically designed, since they seem to form a consistent long term package.” 5
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Econ 4450 (2010) Note 2 - Econ 4450(2010 Note 2 1 The...

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