Econ 4450 (2010) Note 4 - . 3 What seems to lie behind is...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ 4450 (2010) Note 4 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
A preamble for Part 2. The selective cases. I. We shall focus on the industrial policy of either a single economy, or a set of economies, where these economies - interact with each other, or - form a group for comparison. The common theme: there must be something successful , worthy for emulation. [ Focusing on failures may yield nothing ] 2
Background image of page 2
II. The cases are from a relative recent period, mainly after World War II , in an environment still relevant, occasionally with example from period after 1868, if the situation may resemble what faces some economies now. III. Based on the record, successful industrial policies happen to be mostly applied in Asian economies during this period, achieving sustained high growth for a dozen years or more, under an outward orientation
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
Background image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: . 3 What seems to lie behind is perhaps the nature of our times: 1.Rapid technological progress 2.Lop-sided distribution of R & D facilities in one country USA 3.Revolution in the American retail industry 4.Unprecedented advances in communication/transportation 5.Shared characteristics of East Asian lands: poor resource endowment security needs facing the Cold War / Brezhnev Doctrine high literacy Isolation = Stagnation Openness = Prosperity Cannot abstain Can do 4 Empirical Regularity -East Asian economies enjoy sustained rapid growth - iff they join the ever-lengthening American supply chain . The exception that proves the rule DPRK The Democratic Peoples Republic of Korea and all other economies before their reforms. 5...
View Full Document

This note was uploaded on 04/29/2010 for the course ECON 4450 taught by Professor Wan during the Spring '09 term at Cornell University (Engineering School).

Page1 / 5

Econ 4450 (2010) Note 4 - . 3 What seems to lie behind is...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online