Topic
East Asia
About: East Asia is a research topic. Over the lifetime, 17591 publications have been published within this topic receiving 274073 citations. The topic is also known as: Eastern Asia.
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TL;DR: The role of age structure changes on economic growth in the context of South and Southeast Asia has been studied in this article, where an attempt has been made to study the nature and process of age structural transition in the countries of South (Bangladesh, India and Sri Lanka)and Southeast Asia (Indonesia, Malaysia, Philippines, Singapore and Thailand).
Abstract: Age structural transition is a process and a consequence of shiftingage structure from a young aged population to old aged population. It iswell known that economic growth in the East Asian countries wassignificantly contributed by demographic gift, that is decline in youngaged population and increase in working aged population. However,little is known about the role of age structure changes on economicgrowth in the context of South and Southeast Asia. In this paper anattempt has been made to study the nature and process of age structuraltransition in the countries of South (Bangladesh, India and Sri Lanka)and Southeast Asia (Indonesia, Malaysia, Philippines, Singapore andThailand). Further, this paper also attempts to study the influence of agestructure changes on the economic growth in these countries. Timeseries analysis covering the period 1950-92 has been used for studyingthe relationship between age structure and economic growth, controllingmacroeconomic variables such as investment share of GDP, net foreignbalance, share of public consumption expenditure, inflation rate and openness. The `demographic bonus' or `window of opportunity' had a positive impact on economic growth in all Southeast Asian countries except in the Philippines. The South Asian countries did not perform well in terms of economic growth at the onset of `window of opportunity'. The results also indicate that countries that have had open economies and had excellent human capital benefited more from the "window of opportunity". In the next 20-25 years, the window of opportunity is likely to benefit most South Asian countries if favourable policies are pursued to take advantage of this with opening up their economy. The demographic bonus will be available for another 15-20 years followed by a period of demographic turbulence in the Southeast Asian countries. There will be a faster growth in the old aged population after 15 years and stagnantion/decline in the working aged population. As the gaps between demographic indicators are narrowing among the Asian countries, the question remains whether demographic convergence will lead to economic convergence in the future. The demographic transition has given the South Asian countries an opportunity for economic convergence. However, whether that opportunity is realised will depend on whether socio-economic policies are favourable to economic growth.
70 citations
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TL;DR: In this paper, the authors focus on the evolution of foreign investment strategy in South Korea (hereafter Korea) and Taiwan since the financial crisis and seek to ascertain what recent reforms say about these states' hitherto strategic approach to foreign investment issues.
Abstract: Much has been written about the decline of developmentalism in East Asia and the neoliberal makeover of states once renowned for ‘strategic industrial policy’. The adoption of more open trade and investment policies following the 1997 crisis, along with substantial financial sector reforms, has led some observers to conclude that the era of the developmental state is over and that of the ‘liberal-regulatory’ state has begun. 1 But while concepts such as ‘regulatory state’ and ‘post-developmental’ state are now the common currency of accounts seeking to conceptualise state transformation in post-crisis Asia, systematic empirical research that goes beyond surface policy shifts to appraise underlying institutional changes – both organisational and ideational – is thin. This paper takes a small step towards filling this gap, focusing on the evolution of foreign investment strategy in South Korea (hereafter Korea) and Taiwan since the financial crisis. 2 In particular, we seek to ascertain what recent reforms say about these states’ hitherto strategic approach to foreign investment issues. It is now widely appreciated that, over several decades, the governments of Korea and Taiwan engineered a set of institutional arrangements that enabled them effectively to guide foreign investment (both inward and outward) towards developmental ends. 3 Over the past decade, however, the emergence of a more complex set of domestic economic imperatives (reflecting the success of these countries’ industrial promotion efforts) and the proliferation of new international rules that proscribe certain domestic regulatory controls have made traditional forms of investment coordination more difficult and less viable. Moreover, upon their accession to the World Trade Organization (WTO) in 1995 and 2001 respectively, as well as in the immediate aftermath of the 1997 financial crisis, Korea and Taiwan declared major financial sector reforms, removing most foreign direct investment (FDI) conditionalities and relaxing capital controls on inbound and outbound flows. So what does this more liberal investment environment mean for these erstwhile developmental states? The fact that substantial policy shifts have occurred in Korea and Taiwan is beyond dispute. As we have argued elsewhere, however, policy changes alone tell us little about a state’s underlying orientation – whether it is motivated by liberal or developmental ambitions. 4 Indeed, if East Asia’s developmental states
70 citations
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TL;DR: In this paper, the authors explore the real linkage between the United States and Asia-pacific region through trade and investment, and the financial linkage through stock markets, and show that there is no significant unidirectional causality from the US GDP to Japan, Taiwan, Korea, and China.
69 citations
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01 Jan 1997
TL;DR: Lufrano's study is the most sustained and sophisticated of recent reevaluations of Confucianism's role in the rapid commercial development in the late Ming to mid-Qing period.
Abstract: In light of East Asia's current economic success, it has become increasingly clear that Confucian social thought, long assumed in Western scholarship to be a major stumbling block to economic development, can, under the proper circumstances, have exactly the opposite effect. Lufrano's study is the most sustained and sophisticated of recent reevaluations of Confucianism's role in the rapid commercial development in the late Ming to mid-Qing period. It will be of great interest and value to scholars in the growing field of Chinese business history and should be welcomed by those interested in the Confucian roots of Pacific Rim business practice.
69 citations
01 Jan 2005
TL;DR: The authors summarizes the debate on East Asian industrial policy and summarizes the main lines of discussion and their evolution, and makes sense of what is relevant to the challenges currently faced by developing countries.
Abstract: One of the most debated questions in the development literature is the role of government intervention in East Asia. This paper summarizes the debate on East Asian industrial policy. Due to the wealth of lite rature on this topic, this paper does not attempt to exhaustively evaluate every intervention, but to describe the main lines of discussion and their evolution. The goal is to make sense of what is relevant to the challenges currently faced by developing countries. The views expressed are those of the author and do not necessarily reflect official views of the World Bank
69 citations