Since 1975 the economy of Papua New Guinea has focused on mineral, rather than agricultural production as previously. This is the first book to look at these changes in a complex, rapidly evolving nation from an economic perspective.

Can it be an advantage to be backward? Alexander Gerschenkron developed a model of economic development in which relatively less-developed countries were at an advantage. State interventions could systematically compensate for inadequate supplies of capital, skilled labour, entrepreneurship and technology found in the more advanced. This text examines the relevance of this hypothesis to two of the most spectacularly successful economies of East Asia, Japan and South Korea. Combining insights from economic history, development economics and the economics of technology, the book emphasizes the...

Import substitution strategy enjoyed its heyday in the 1970s but was largely discredited and replaced by free market policies in the 1980s. It has been acknowledged recently, however, that some of the most successful growth economies in the Pacific Rim combined protectionist ISI policies with export-oriented policies. A systematic rethinking of the relationship between import-substituting and export-oriented industrialization strategies is provided, firstly, by making direct price comparisons to estimate the effective rate of protection (ERP); secondly, through an examination of the dynamic...

In the ROUTLEDGE STUDIES IN THE GROWTH ECONOMIES OF ASIA series, a collection of essays tracing the economic development of the Pacific Rim over four centuries. Broad historical syntheses are combined with essays on a wide range of specific topics such as environmental history, trade with Hong Kong and British overseas banking.

Japan - a major provider of development aid - is challenging conventional wisdom in economic development. This text is a systematic exposition of the Japanese approach to economic development. Development economists who shape Japan's economic aid policy are assembled in this one volume. Japanese economists generally believe that long-term vision and phased real sector strategies are lacking in the policy recommendations of the World Bank and International Monetary Fund. They argue that development of a market economy requires many conditions which do not automatically arise by hands off...

What accounts for export success? A team of international contributors show that learning and capability formation are critical to sustain competitiveness. Through a series of case studies of firms in the textile and garment and electronics industries of five Asian economies - Korea, Taiwan, Thailand, Indonesia and Vietnam - Technological Capabilities and Export Success in Asia demonstrates that cheap labour, combined with currency devaluation, is no longer sufficient for export success.

This study examines issues of trade policy in the light of the experience of developing Asian economies. Case studies highlight rapidly unfolding issues in trade and development with reference to Sri Lanka, Malaysia, India, Indonesia, Pakistan, South Korea, Taiwan and Thailand.
The issues explored include trade liberalization and industrial adjustment, employment and equity outcomes of export-oriented industrialization, the impact of structural adjustment reforms on savings and investment and the role of foreign direct investment in export expansion.

In Chinese Firms and Technology in the Reform Era, Yizheng Shi analyses the technological behaviour of state- owned firms. In particular he shows how they have imported, utilised and assimilated foreign technology into their operations. The author argues that despite being granted more autonomy and having to face increased competition, Chinese firms are still not motivated to assimilate properly imported technology because of the absence of well- delineated property rights.

This volume provides an overview of exchange rate policies in the growth economies of East and Southeast Asia. The contributors provide theoretical material, compare national policies across the region, and study the national experiences in countries including Korea, Singapore, Taiwan and Thailand. This study further explores the implications of Asian exchange rate policies for the world economy, providing regional, global and historical perspectives on Asian monetary relations.

The Chinese economy is one of the most important in the world. It has a tremendous growth rate and is the scene of massive foreign investment. China is under close scrutiny both as a market that could provide massive returns to investors and because of its potential to become the most powerful economy in Asia. This study examines the economic relationship between China and Europe, its importance and how it is likely to evolve. The book is divided into two parts; the first covering the flow of trade, direct investment and technology transfer. The second presents case studies of manufacturing...