Beyond the East Asian Miracle: Introducing the Market‐Enhancing View
Beyond the East Asian Miracle: Introducing the Market‐Enhancing View
This chapter discusses the relevant parts of the contributions included in this volume. A summary ofThe East Asian Miraclepublished by the World Bank in 1993 is presented. The potential role of government in resolving coordination failures; how government policy can complement decentralized coordination; the use of contingent rents versus the use of direct policies; a framework for analyzing the roles of the private sector and government in coordinating economic activity; the political-economy structures of East Asian economies; and the motivations of government and the bureaucracy are discussed.
Keywords: East Asia, government policy, decentralized coordination, contingent rents, private sector, political-economy structures
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