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Market, State, and Society in Asian Development

  • Cal Clark
  • Steve Chan
Chapter
Part of the International Political Economy Series book series (IPES)

Abstract

Since the mid-1980s, there has been keen debate in development studies and international political economy over whether the state or the market is the key factor in explaining the undeniable economic growth and industrial transformation that have occurred recently in a few places in the developing world, most particularly East Asia. On the one hand, scholars working in this new tradition argue that the state must almost inevitably play a leading role in promoting industrialization in "late developing" nations and that the East Asian "economic miracles" vindicate strong state intervention and leadership in the economy (Amsden, 1989; Evans et al., 1985; Wade, 1990). In contrast, these assertions are strongly challenged by advocates of neoclassical economics who argue that the best-performing Third-World economies are those that have opened their markets and pursued their comparative advantage in the global economy (Balassa et al., 1986).

Keywords

Political Economy Political Culture Foreign Capital Asian Development Neoclassical Theory 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Cal Clark and Danny Lam 1998

Authors and Affiliations

  • Cal Clark
  • Steve Chan

There are no affiliations available

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