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At a time of robust worldwide debates on globalization, this compact volume shows: how successful each of the East Asian economies have been in harnessing globalization by appropriate and alternative means to catch up with the advanced economies and; what implications can be drawn to assess Chinese economic growth in context. The essays in this book include supporting notes to review effectively the highlights of the development of East Asia, over the six decades after World War II: why the region has performed so well economically relative to the rest of the developing world; which are the most challenging limitations to be addressed; and; several sensational controversies in the development economics literature to be sensibly resolved. Sample Chapter(s). A Note on Knowledge Capital and the Needham Paradox (805 KB). Contents: Harnessing Globalization - How Has East Asia Done It: The Second Chance After WWII: The Record of East Asia Among the Late-Comers; Japan Pioneered Industrialization via Institutional Development: The Post-WWII Transformation of Corporate Governance; Deregulation in Reform: The Taking-Off of Korean Growth; Moving Along the Upper Bound: Singapore Reaching Out for Its Potential; To Have and Have Not an Industrial Policy: The Hong Kong-Taiwan Comparison; Challenges for a Billion-People Economy: A Prognosis for the Development of the PRC; East Asia in Context: Contrast Among the Chinese Economies; Comparative Worldwide Development Records; Some Debates in Development Theory: Why Rapid Growth is Associated with Stagnant Total Productivity?; and other papers. Readership: Undergraduate and graduate students, researchers, academics, and policy-makers interested in economics, globalization and East Asian case studies.

Is the East Asian growth record replicable today? This book answers: yes. It places the common East Asian theme in the theoretic context of product cycles, globalization and convergence and the historical perspective of the "German Miracle" after World War II, also the more recent Irish growth; it identifies the effective policies for sustained, rapid growth by structured comparisons among different economies; it evaluates the strengths and weaknesses of the alternative policy packages of Korea, Taiwan, Hong Kong, and Singapore, in the light of such recent events like global trend for liberalization, and the Crises of 1997 and 2001. Economic Development in a Globalized Environment also scrutinizes the major debates in development economics, using documented cases, and analytic reasoning for support