Title

Two New Lessons from Asian Miracles

Publication Type

Journal Article

Publication Date

2-2007

Abstract

Four Asian economies – Hong Kong, Singapore, Korea and Taiwan – have grown at spectacular speeds adopting different strategies. Past debates focused on their growth takeoff. The present paper studies their future outlook. As an economy matures, sustaining economic performance requires innovation and technology upgrading. Hong Kong, under a minimalist administration, is now critically deficient in technology. Singapore, dependent on foreign multinationals, is struggling to become a creator and not just a user of technology. We seek to explain why Hong Kong and Singapore are so much less innovative than Korea and Taiwan.

Keywords

Asian miracle, free market, indigenous industries, public policy, R&D, technological innovations

Discipline

Growth and Development

Research Areas

Econometrics

Publication

Journal of the Asia Pacific Economy

Volume

12

Issue

1

First Page

1

Last Page

16

ISSN

1354-7860

Identifier

10.1080/13547860601083488

Publisher

Taylor and Francis

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

http://dx.doi.org/10.1080/13547860601083488

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