Book Description

"In this economic tour de force, a talented young Korean scholar, trained in the United States and tested in various international fora, highlights the dynamism being displayed in East Asia in some of the world's most fascinating economies. In this set of interrelated essays, Dr. Keun Lee of Seoul National University evaluates the development experiences not only of some of the world's fastest growing economies, like South Korea, Taiwan, and more recently China, but also contrasts their performances with the more lethargic or hesitant pace in North Korea and the former Soviet Union. His theme is that these East Asian economies have a common feature in the active if not dominant role of the state in setting and implementing economic direction. Yet the more dynamic entities have also relied heavily on market interaction as their engine of growth. What policy lessons can the slower growing economies learn from their more dynamic neighbors, and what are some implications for the global economy from this continuing interaction? Dr. Lee makes no prediction as to the emergence of a particular doctrine. What he sees is that state activism will continue to drive growth in this strategic world region.In this economic tour de force, a talented young Korean scholar, trained in the United States and tested in various international fora, highlights the dynamism being displayed in East Asia in some of the world's most fascinating economies. In this set of interrelated essays, Dr. Keun Lee of Seoul National University evaluates the development experiences not only of some of the world's fastest growing economies, like South Korea, Taiwan, and more recently China, but also contrasts their performances with the more lethargic or hesitant pace in North Korea and the former Soviet Union. His theme is that these East Asian economies have a common feature in the active if not dominant role of the state in setting and implementing economic direction. Yet the more dynamic entities have also relied heavily on market interaction as their engine of growth. What policy lessons can the slower growing economies learn from their more dynamic neighbors, and what are some implications for the global economy from this continuing interaction? Dr. Lee makes no prediction as to the emergence of a particular doctrine. What he sees is that state activism will continue to drive growth in this strategic world region."--Page 4 of cover.