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Oxford Handbook of International Business$
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Alan M. Rugman and Thomas L. Brewer

Print publication date: 2001

Print ISBN-13: 9780199241828

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199241821.001.0001

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The Smaller Economies of Pacific Asia and Their Business Systems

The Smaller Economies of Pacific Asia and Their Business Systems

(p.760) Chapter 26 The Smaller Economies of Pacific Asia and Their Business Systems
Oxford Handbook of International Business

Gordon Redding (Contributor Webpage)

Oxford University Press

The historical background to the business systems of the smaller economies of Pacific Asia and the general characteristics of the region are discussed. While in most Western capitalist systems, the accessing of capital is now largely a private activity, in the smaller economies of Pacific Asia the government is much more involved in this. The countries concerned fall into several categories—South Korea, Taiwan, and Singapore, where the state is very forcefully involved, the ASEAN states outside Singapore where the governments monopolize economic power but are not yet authentically capitalist, and Vietnam where the political will for radical change is weak; Hong Kong is a special case of positive non‐intervention by government. A further characteristic of the business systems in these countries is that they are opaque. The last part of the chapter considers the business systems in specific national cultures: South Korea; Hong Kong, Taiwan, and Singapore; Indonesia, Malaysia, Philippines, and Thailand; and Vietnam.

Keywords:   business systems, Hong Kong, Indonesia, Malaysia, Pacific Asia, Philippines, Singapore, South Korea, state intervention, Taiwan, Thailand, Vietnam

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