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Key to the Asian Miracle: Making Shared Growth Credible
Hardcover
EconomicsGeneral Political Science
ISBN13: 9780815713609
Publisher: Brookings Institution Press
Published: Apr 1 1996
Pages: 216
Weight: 1.07
Height: 0.90 Width: 6.29 Depth: 9.32
Language: English
Easily the most informed and comprehensive analysis to date on how and why East Asian countries have achieved sustained high economic growth rates, [this book] substantially advances our understanding of the key interactions between the governors and governed in the development process. Students and practitioners alike will be referring to Campos and Root's series of excellent case studies for years to come. Richard L. Wilson, The Asia Foundation
Jose Edgardo Campos and Hilton Root challenge the popular belief that East Asia's high performers grew rapidly because they were ruled by authoritarian leaders. They show that these leaders had to collaborate with various sectors of their population to create an environment that was conducive to sustained growth. This required them to persuade the business community that their investments would not be expropriated and to convince the broader population that their short-term sacrifices would be rewarded in the future. Many of the countries achieved business cooperation by creating consultative groups, which the authors call deliberation councils, to enhance accountability and stability. They also obtained popular support through a variety of wealth-sharing measures such as land reform, worker cooperatives, and wider access to education.
Finally, to inhibit favoritism and corruption that would benefit narrow interest groups at the expense of broad-based development, these countries' leaders constructed a competent bureaucracy that balanced autonomy with accountability to serve all interests, including the poor.
This important book provides useful lessons about how developing and newly industrialized countries can build institutions to implement growth-promoting policies.
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