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The Role of Government in East Asian Economic Development – Comparative Institutional Analysis - Oxford Scholarship Online
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The Role of Government in East Asian Economic Development: Comparative Institutional Analysis

Masahiko Aoki, Hyung-Ki Kim, and Masahiro Okuno-Fujiwara


The role of government in East Asian economic development has been a contentious issue. Two competing views have shaped enquiries into the source of the rapid growth of the high-performing Asian economies and attempts to derive a general lesson for other developing economies: the market-friendly view, according to which government intervenes little in the market, and the developmental state view, in which it governs the market. What these views share in common is a conception of market and government as alternative mechanisms for resource allocation. They are distinct only in their judgement o ... More

Keywords: market-enhancing view, government policy, private sector, coordination

Bibliographic Information

Print publication date: 1998 Print ISBN-13: 9780198294917
Published to Oxford Scholarship Online: January 2007 DOI:10.1093/acprof:oso/9780198294917.001.0001


Affiliations are at time of print publication.

Masahiko Aoki, editor
Henry and Tomoye Takahashi Professor of Japanese Economic Studies, Stanford University
Author Webpage

Hyung-Ki Kim, editor
Former Division Chief for Studies, EDIST, World Bank

Masahiro Okuno-Fujiwara, editor
Professor of Economics, University of Tokyo

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1 Beyond the East Asian Miracle: Introducing the Market‐Enhancing View

Masahiko Aoki, Kevin Murdock, and Masahiro Okuno‐Fujiwara

Part I Market Failures and Government Activism

Part II The Market‐Enhancing View

6 Financial Restraint: Toward a New Paradigm

Thomas Hellmann, Kevin Murdock, and Joseph Stiglitz

Part III The Political Economy of Development and Government‐Private Interactions

12 Rents and Development in Multiethnic Malaysia

Jomo K. S. and Edmund Terence Gomez

End Matter