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Essay / Research Paper Abstract
A summary and analysis of several sections of the World Bank Group publication, the East Asian Miracle, which looks at the reasons why the eight high performing Asian economies were so successful in their economic growth and development between the 1960s and the 1990s. Bibliography lists one source.
Page Count:
20 pages (~225 words per page)
File: JL5_JLasiaecon.rtf
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Unformatted sample text from the term paper:
The Word Bank publication, the East Asian Miracle, was written in 1993 at a time when the public perception of East Asian economies was rather different than it is
now, after the collapse of the Asian Tigers. Consequently, one has to consider the book in the light of this, and especially with regard to the accuracy of predictions made
at the time with respect to the likely progress of the eight high performing Asian economies, or HPAEs.
As is pointed out in the introduction, choosing a particular national economy or set of economies to study in
detail is to some extent an arbitrary process: the WBG notes, for instance, that Brazil, Greece, Cyprus and Portugal were at the time examples of very diverse high performing economies,
as were several countries in sub-Saharan Africa. However, the Group chose to focus on the East Asian economies partly because of considerable public interest in the East Asian Miracle, and
partly because some commentators have looked closely at the relationship between public policies, arguably with similarities in the eight economies, and rapid economic growth.
Furthermore, the WBG authors considered that there were certain economic similarities between
the eight countries which did indeed distinguish them from other burgeoning economies. Since the early 60s, the HPEAs had grown twice as fast as neighbouring East Asian countries, three times
as fast as Latin America and twenty-five times as fast as the sub-Saharan nations. The increases in the period between 1960 and 1985 were significant: the WBG argues that to
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