SOUTHEAST ASIA'S MISUNDERSTOOD MIRACLE : industrial policy and economic development in thailand,... malaysia and indonesia

The debate on the major factors contributing to Southeast Asian industrialization continues unabated. As might be expected, there is much at stake in this debate. The debate is largely ideological in nature and partly centers on the role and contribution of state interventions and other institutions in market processes in the context of late industrialization. At the risk of caricaturing the debate, on the one hand, one finds the dominant and more influential position held by those who blame the state for all that has gone wrong and credit the market for all that has turned out right; on the other hand, the minority statist extreme position basically credits most major economic achievements in East Asia to appropriate interventions by developmentalist states. While very few people would actually fully identify with either of these caricatured extremes, much of the discussion actually gravitates around either of these poles. Ethnic Studies,American,Asian American Studies,Social Science,Political Science,World,Asian,Regional Studies Southeast Asia's Misunderstood Miracle assesses the sources and nature of growth, structural change and industrialization in Malaysia, Thailand and Indonesia. In particular, it considers the role of government intervention, market forces and foreign investment in these Southeast Asian second-tier newly industrializing countries. The role of selective industrial policy in the three countries is critically examined. The book qualifies, contradicts and challenges some of the conclusions and policy recommendations of other work such as the World Bank's Influential East Asian Miracle (1993) volume, which suggests that other developing countries should seek to emulate the second-tier Southeast Asian NICs, rather than the first-tier East Asian NIEs This book assesses the sources and nature of growth, structural change, and industrialization in Thailand, Malaysia, and Indonesia. In particular, it considers the role of government intervention, market forces, and foreign investment in these Southeast Asian second tier, newly industrializing countries. The role of selective industrial policy in t This book offers a more nuanced historical analysis of the role of governments, especially industrial policy, in the recent growth and industrialization of the second-tier Southeast Asian newly industrializing countries, such as Malaysia, Thailand and Indonesia.