Munich Personal RePEc Archive

Savings, investment and the corporation in the East Asian miracle

Singh, Ajit (1997): Savings, investment and the corporation in the East Asian miracle. Published in: Journal of Development Studies , Vol. 34, No. 6 (1 November 1998): pp. 112-137.

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Abstract

Abstract

The East Asian countries have achieved a spectacular average rate of economic growth over the last 30 to 40 years, with very substantial diversification and economic development. Korea, for example, managed to transform itself from being a largely agricultural society in 1960 to the point where it became the third country after the US and Japan to export 256 K memory chips, developed by its own firms. It is no exaggeration to say that the post-WWII development of East Asia (including Japan)is the most successful story of sustained economic growth in the history of mankind.

How does one account for this extraordinary economic success?

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