The article focuses on Asian countries that have experienced economic growth over the past 50 years including Hong Kong, China; Japan; Singapore; South Korea and Taiwan. With the exception of Hong Kong, the economic success of the Asian countries has been attributed to the interventionist framework. Export-orientation is one strategy that is most associated with the success of the five Asian countries. The export-oriented strategy helped the five Asian countries in many ways. The ensuring growth of employment enabled the country to save and accumulate capital for reinvestment. The export-oriented strategy also positively affects the competitive advantages of the country. There are other non-economic factors, such as culture, the need to survive, strong government, historical factors and even luck, that could have helped in the development process of these countries. Policy-makers must know how to use the total-systems approach to solving economic problems. In other words, policy-makers must know how to analyse their economies as complex systems.
Asia, Economic Development, Competitive Advantages
Asian Studies | Strategic Management Policy
Strategy and Organisation
WEE, Chow Hou and TAN, Gilbert.
Making Sense of the Asian Success Story: An Integrative Framework. (1997). International Executive. 39, (2), 161-184. Research Collection Lee Kong Chian School Of Business.
Available at: http://ink.library.smu.edu.sg/lkcsb_research/2699
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