Econ9.22.10 - Perkins Ch.9 Ch 10 Miracle Talk about midterm...

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Perkins Ch.9, Ch 10 Miracle? Talk about midterm Perkins A.Intro No single HPAE model of development, but 3 i.Manufacture export-led state interventionist, J, K, T ii.Free port-service, commerce oriented model of S, HK iii.Rich in natural but not human resources M, Th What works? Had high productivity growth: cause? Concentrated effort to promote manufactured exports Macroeconomic stability Emphasis on human capital No major mistakes B.Role of government 1.How to evaluate success of government intervention?: better than market? Problem lack of counterfactual Good reason to go to market slowly? Have government policy Nothing happened->government acts (information!) WB lumps all cases together -without details of a country’s situation -market vs. government interventions 2.Government actions vary : individual policies, trade policies 3. Domestic prices similar to world market prices/ WB: Yes, Perkins: initially no Financial systems differ->Perkins: savings and investment happened despite repressed financial systems C.WB ignores historical foundation or politics
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