Studwell’s thesis is bold, his arguments persuasive, and his style pugnacious. It adds up to a highly readable and important book that should make people. Bill Gates reviews “How Asia Works” by Joe Studwell. How Asia Works. Success and Failure in the World’s Most Dynamic Region. Joe Studwell. A provocative look at what has worked – and what hasn’t – in East.

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Of course, since the growth to capital and labor can take you so far, productivity is the secret sauce. Japan was going to dominate, then China. Studwell proposes that successful implementation of three government interventions explains much of the variation in the growth trajectory of east Asian states: But Studwell makes a strong case that the institutional detail of how land was parceled out and who was doing the parceling is what separates a country like Japan from the Philippines.

And in finance, effective regulation is essential for fostering, and sustaining growth. Jul 21, Duc Thinh rated it it was amazing Shelves: Although this book might not be completely correct, it does provoke deep reflection and question my beliefs.

Highly recommended wrks those interested in “Asia”. One other thing which comes to mind after reading it is how or how it may not be applicable to Indian scenario! This was excellent, very well organized and concisely argued.

How Asia Works: Success and Failure in the World’s Most Dynamic Region by Joe Studwell

This should be stimulated by the government. Studwell outlines a 3 point formula that has been applied in varying degrees across the world. Emerging countries could themselves help to frame a more honest debate about economic development by setting and meeting benchmarks for the other components of studdwell development.

Korea, Japan and Taiwan from the middling performers Malaysia, Thailand and the complete failures Indonesia and Philippines – this distinction is backed by the speed with which each of these nations were able to bounce back from the Asian crisis and the drivers of the same genuine industrial competitiveness in north-east Asia against resource wealth in Malaysia.


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In conclusion, very good and clear book. The author cites Philippines which had a good education system, bequeathed by the Americans. Japan, South Korea, Taiwan and China lies in reforms in the agriculture sector. A lot of it is tough to get through, there is a lot of statistics and so many different players in the game that it is sometimes difficult to keep everything straight.

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While the North East Asian countries scale one improbable developmental height after another, the South East Asian nations always seem to be teetering on the brink of an economic catastrophe perpetually lurking around an unseen corner. Oct 30, Matias Sulzberger rated it really liked it. Instead of suggesting a full-fledged and massive financial and industrial deregulation, Studwell painstakingly demonstrates that an initially protectionist policy that grants subsidies to manufacturers, makes available finance at low or even negative interest rates, but and this is a capital BUT indispensable and incontrovertible export targets would lead to a rise in the manufacturing sector as was the stellar case with South Korea and the former General Park Chung Hee.

Graduate training, with its growth models and representative agents, still provides a sturdy analytical framework for analyzing the problems of development. India is conspicuously absent.

How Asia Works: Success and Failure in the World’s Most Dynamic Region

And in finance, effective regulation is essential for fostering, and sustaining growth. Overall, Studwell workks done an excellent job of explaining why leaders like Park Chung-Hee, Deng Xioaping, and Meiji took their countries in such different paths than Mao Zedong, Mahathir Mohamad, and Sukarno in a brisk, well-argued volume.

Hoe does a new kitchen seem so pleasant if the food you eat in it is poisoned for lack of environmental controls or by the addition of some low-cost but toxic ingredient, the use of which has been covered up with official connivance. I enjoyed it a good deal and the theme of agricultural reform as a precursor to the industrial revolution in NE Asia was new to me.

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How Asia Works by Joe Studwell

To see what your friends thought of this book, please sign up. I should admit that while, reading the book, I often had the economists’ reflex of asking myself: Korea, Japan and Taiwan from the middling performers Malaysia, Thailand and the complete failures Indonesia and Philippines – this distinction Studwell’s book is a coherent, well-reasoned primer on the causes of economic growth and lack thereof in east Asia.

Only after industrialization should the banking sector be liberalized bit by bit. Finance – A tool to accelerate industrialization, never a end in itself.

In Malaysia they liberalized the financial system and IPOd companies prematurely, leading to huge stock market bubbles on unproductive companies.

The key objection against the “infant industry” argument is that, given how it has been applied in practice, it has mainly created rents for domestic industries that are protected against worms competition, and that these favours tend to be perpetuated at the expense of domestic consumers.

Any book that tackles such a broad subject invites criticism, but for the most part the book seems to mesh well with other books I’ve read. This work cites quite hoe number of sources and the facts themselves are interesting to know by themselves.

This book is an amazing study about the phenomena of how some Asian countries were able to grow so much and so fast.

Studwells mentions that how coys like Hyundai and Suzukis developed- these are now selling cars to us! Just a moment while we sign you in to hlw Goodreads account. I still don’t know.