In the same way that no economy starts out with the best set of economic policies, no economy starts out with the best institutions to support the policy-making process. Instead, they inherit institutions that reflect their own unique culture and history. The task of structural reform has to be addressed, therefore, in the context of domestic economic and political institutions and processes. Examining the nature of structural economic reform and the institutional circumstances in which it succeeds or is inhibited, this volume is less about the content of structural reform and more about how to get there. The chapters develop principles governing the types of institutions that are likely to assist the structural reform process, and then examine the application of those principles within a number of case studies. Finally, the volume presents some ideas about how regional cooperation could help to build and support those institutions that in turn support domestic structural reforms. Consisting of theoretical chapters and country specific case studies, this book draws on experience with structural reform across a range of Asian economies at different stages of economic development. As such it will be of interest to students and scholars of Asian Economics and Development Economics.

"This book suggests that, far from being irrelevant, law made an important contribution to the "East Asian miracle." The findings in the book show that, with the introduction of market-based economic policies, law and legal institutions tended to converge with economic development among the six economies and with the institutions of the West, although the extent of convergence differs from country to country and for different areas of the law."--BOOK JACKET.

In light of the growing global economic importance of East Asia, this book analyzes and compares the extraordinary development paths and strategies of Japan, South Korea, and China. It examines both the factors that enabled these countries’ prolonged periods of high-speed economic growth, and the reasons for their subsequent “cool-downs.” In addition, the book illustrates how their development strategies served as role models for one another, and what current and future developing countries can learn from the East Asian success stories. This book will appeal to scholars and students of economics and development studies with an interest in the East Asian development model.

'Roy's book is a rich and detailed study of various facets of economic and social development in ten countries, both democratic and authoritarian. Researchers and students will find here a wealth of information and statistics that can be mined to explore fundamental questions around state interventionism and modes of governance, around democratisation, authoritarianism and economic development, around the factors driving the differential developmental performance of specific countries, and around the desirability of economic growth at all costs. It also provides a very useful starting-point for considering the future of Asia as China's economic, political and military strength continues to grow.'Jude A HowellProfessor London School of Economics (LSE), London, UKFrom the Foreword With over three decades worth of research and analysis, Roy compares ten countries — India; Brazil; Indonesia; China; Japan; South Korea; Singapore; Vietnam; Thailand; and, Malaysia — in the role of the state in economic development. Comprising of a rich body of work on state intervention and developmental states, Roy postulate on the idea of 'virtuous' and 'vicious' interventionist states.

"Easily the most informed and comprehensive analysis to date on how and why East Asian countries have achieved sustained high economic growth rates, this book] substantially advances our understanding of the key interactions between the governors and governed in the development process. Students and practitioners alike will be referring to Campos and Root's series of excellent case studies for years to come." Richard L. Wilson, The Asia Foundation Eight countries in East Asia--Japan, South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, and Indonesia--have become known as the "East Asian miracle" because of their economies' dramatic growth. In these eight countries real per capita GDP rose twice as fast as in any other regional grouping between 1965 and 1990. Even more impressive is their simultaneous significant reduction in poverty and income inequality. Their success is frequently attributed to economic policies, but the authors of this book argue that those economic policies would not have worked unless the leaders of the countries made them credible to their business communities and citizens. Jose Edgardo Campos and Hilton Root challenge the popular belief that East Asia's high performers grew rapidly because they were ruled by authoritarian leaders. They show that these leaders had to collaborate with various sectors of their population to create an environment that was conducive to sustained growth. This required them to persuade the business community that their investments would not be expropriated and to convince the broader population that their short-term sacrifices would be rewarded in the future. Many of the countries achieved business cooperation by creating consultative groups, which the authors call deliberation councils, to enhance accountability and stability. They also obtained popular support through a variety of wealth-sharing measures such as land reform, worker cooperatives, and wider access to education. Finally, to inhibit favoritism and corruption that would benefit narrow interest groups at the expense of broad-based development, these countries' leaders constructed a competent bureaucracy that balanced autonomy with accountability to serve all interests, including the poor. This important book provides useful lessons about how developing and newly industrialized countries can build institutions to implement growth-promoting policies.

While Asia’s growth record in recent decades is remarkable, it has been marred by rising inequalities. This book looks at recent trends of income and non-income inequalities in developing Asian countries, discusses their underlying driving forces, and examines key policy issues that need to be addressed to ensure that the benefits of growth will be more equitably shared in Asia. The book also presents a set of country studies that provide rich information on growth, poverty and inequality dynamics and the policy challenges that arise in marching toward inclusive growth.

"Despite the otherworldly situations he's gotten into, Keiichi's everyday joy is still found as an engineer and mechanic. And as Chihiro's training retreat by the seashore continues, the two of them put that shared passion into practice by building two bikes based on different philosophies, with the help of her old high-school friends Eri and Tasuga--plus (or maybe minus) the 'help' of Urd and Skuld!"--p.[4] of cover.