This book examines the diffusion of economic ideas in East Asia, assessing the impact of external ideas on internal theory and practice. It considers economists from Adam Smith onwards, including Marx, Keynes, Hayek and contemporary economists, and covers the subject both historically and also includes present day and likely future developments. The book covers all the major countries of East Asia, and pays particular attention to specific economists who have had a strong impact in specific countries, and to important developments in economic theory in East Asia, exploring how far these have been driven by Western economic ideas. This book will be welcomed by students and scholars of East Asia and South-east Asia, as well as those interested in economics, economic history and management.

Since the late-19th century, Japan has made remarkable strides in industrialization. Beginning with the economic vision of Miura Baien in the 18th century, and employing a detailed comparison with the West, this book delves into the economic thought of the scholars who played a pivotal role in Japan’s modernization process. The author takes Fukuzawa Yukichi’s theory of ‘civilization’ as the standard measure of Japan’s modernization and compares it with differing visions from various critics whose research focused on rural poverty and social problems, such as Maeda Masana, early socialists, Yanagita Kunio and Kawakami Hajime. Further, the book explores new liberalism (Ishibashi Tanzan, Fukuda Tokuzo) and Marxism (Yamada Moritaro, Uno Kozo) in the 1920s and 1930s. After discussing the dilemmas faced by economists during wartime (Takata Yasuma, Ryu Shintaro, Shibata Kei), the author concludes this intellectual history with the country’s post-1945 democratic reforms and their early demise. This book is valuable reading for students and researchers of Japan’s intellectual history. However, due to the book’s comparative perspective, as well as the universality of the modernization experience, it will also appeal to students and researchers of the history of economic thought and modern intellectual history.

When China’s economic reforms were beginning, there was an expectation in the west that China’s financial markets would be opened to western banks and that China’s banks would be reformed along western lines. Joint ventures between Chinese banks and western banks, minority shareholding by western banks and the involvement of western banking personnel in assisting Chinese banks with their reforms were all seen as moves towards reform along western lines. This book analyses the role which western bankers have played in China’s economic reforms, focusing on their influence on institutional change and corporate governance. Based on extensive original research, the book shows that while components of western models of corporate governance have been widely adopted, the motivation for these changes seems to have been legitimacy-seeking by Chinese banks, and that whilst there has been relatively rapid change in the formal legislative environment, informal organisational practices are changing at a much slower pace. Alliances between Chinese and western banks are woven with contradictions and power games and so many actors in the Chinese banking sector seek to resist manipulation by their western counterparts. The financial crisis weakened the idea that western banks are a universally correct model and strengthened China’s resolve to keep control of its banking sector and manage it along Chinese lines.

Asia is a crucial battleground for power and influence in the international system. It is also a theater of new experiments in regional cooperation that could redefine global order. Whose Ideas Matter? is the first book to explore the diffusion of ideas and norms in the international system from the perspective of local actors, with Asian regional institutions as its main focus. There's no Asian equivalent of the EU or of NATO. Why has Asia, and in particular Southeast Asia, avoided such multilateral institutions? Most accounts focus on U.S. interests and perceptions or intraregional rivalries to explain the design and effectiveness of regional institutions in Asia such as SEATO, ASEAN, and the ASEAN Regional Forum. Amitav Acharya instead foregrounds the ideas of Asian policymakers, including their response to the global norms of sovereignty and nonintervention. Asian regional institutions are shaped by contestations and compromises involving emerging global norms and the preexisting beliefs and practices of local actors. Acharya terms this perspective "constitutive localization" and argues that international politics is not all about Western ideas and norms forcing their way into non-Western societies while the latter remain passive recipients. Rather, ideas are conditioned and accepted by local agents who shape the diffusion of ideas and norms in the international system. Acharya sketches a normative trajectory of Asian regionalism that constitutes an important contribution to the global sovereignty regime and explains a remarkable continuity in the design and functions of Asian regional institutions.

The Oxford Handbook of Comparative Regionalism - the first of its kind - offers a systematic and wide-ranging survey of the scholarship on regionalism, regionalization, and regional governance. Unpacking the major debates, leading authors of the field synthesize the state of the art, provide a guide to the comparative study of regionalism, and identify future avenues of research. Twenty-seven chapters review the theoretical and empirical scholarship with regard to the emergence of regionalism, the institutional design of regional organizations and issue-specific governance, as well as the effects of regionalism and its relationship with processes of regionalization. The authors explore theories of cooperation, integration, and diffusion explaining the rise and the different forms of regionalism. The handbook also discusses the state of the art on the world regions: North America, Latin America, Europe, Eurasia, Asia, North Africa and the Middle East, and Sub-Saharan Africa. Various chapters survey the literature on regional governance in major issue areas such as security and peace, trade and finance, environment, migration, social and gender policies, as well as democracy and human rights. Finally, the handbook engages in cross-regional comparisons with regard to institutional design, dispute settlement, identities and communities, legitimacy and democracy, as well as inter- and transregionalism.