Assessing Economic Growth in the Asian NICs

Postwar Development in the Asian NICs: Does the Neoliberal Model Fit Reality?

“…Japanese colonial rule led to the rise of modern state and industrial structures; Japanese foreign investment and technology supported early industrialization; and Japanese marketing firms managed most exports (Bello and Rosenfeld 1990). In addition, agrarian reforms were carried out under Japanese auspices which effectively destroyed the feudal rural oligarchy, removing a potential obstacle to urbanbased industrialization (Hart-Landsberg 1993;Lin 1989;Nolan 1990). By contrast, the prolonged domination of economic and political structures by the rural oligarchy in much of Latin America significantly delayed industrialization (Bagchi 1990;de Janvry 1981).…”

“…Hong Kong and Singapore are essentially city-states; agriculture was not important to their development. As important outposts in the British Empire, however, both were established as regional centers of entrepot trade, dominating development in their respective hinterlands (Kearney 1990;Nolan 1990). Under British colonialism, modern state institutions were established that played an active role in directing and managing economic growth.…”