Skip to main content

New Regionalism in East Asia: How Does It Relate to the East Asian Economic Development Model?

  • Chapter
New Asian Regionalism
  • 94 Accesses

Abstract

In recent years a new regionalism has begun to emerge in East Asia that represents a clear break from the region’s strong history of multilateralism. Such a development is important given that an export led growth and development strategy provided the platform for the region’s remarkable, and prolonged, period of high and sustained economic growth dating back to the 1960s, and that lies at the core of the EADM. Export growth will remain a key ingredient for the recovery of the region after the financial and economic crisis of 1997/98. The trend towards this new regionalism, the reasons for it, its impact upon the region, its future evolution and prospects are, therefore, of profound regional, and indeed global, significance.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Ando, A. and F. Modigliani (1963), ‘The Life Cycle Hypothesis of Savings: Aggregate Implications and Tests’, American Economic Review, 53(1).

    Google Scholar 

  • Bayoumi, T., D. T. Coe, and E. Helpman (1996), ‘R&D Spillovers and Global Growth’, National Bureau of Economic Research, No. 5628.

    Google Scholar 

  • Beason, R., and D. E. Weinstein (1996), ‘Growth, Economies of Scale, and Targeting in Japan (1955–1990)’, The Review of Economics and Statistics, Vol. 78, 1996, pp. 286–95.

    Article  Google Scholar 

  • Bergsten, C. F. (2000), ‘Towards a Tripartite World’, The Economist, 13 July.

    Google Scholar 

  • Bloom, D. E. and Williamson, J. G. (1997), ‘Demographic Transitions and Economic Miracles in Emerging Asia’, NBER Working Paper, No. 6268.

    Google Scholar 

  • Carroll, C., D. Weil and L. H. Summers (1993), ‘Savings and Growth: a Reinterpretation’, paper presented at the Carnegie-Rochester Public Policy Conference, Bradley Policy Research Centre, 23–24 April.

    Google Scholar 

  • Corsetti, G., P. Pesenti and N. Roubini (1998), ‘What Caused the Asian Currency and Financial Crisis?’, Part 1: A Macroeconomic Overview, September (available at http://www.stern.nyu.edu/globalmacro/).

    Google Scholar 

  • Crafts, N. (1998), ‘East Asian Growth Before and After the Crisis’, IMF Working Paper, WP/98/37.

    Google Scholar 

  • Deininger, K. and S. Squire (1996), ‘A New Data Set Measuring Income Inequality’, The World Bank Economic Review, 10 (3), pp. 565–91.

    Article  Google Scholar 

  • Edison, H. and C. M. Reinhart (1999), ‘Stopping Hot Money’, Working Paper, University of Maryland, 29 November 1999.

    Google Scholar 

  • Federal Reserve Bank of San Francisco (FRBSF) (1997), ‘Government Intervention and the East Asian Miracle’, FRBSF Economic Letter, 97–20.

    Google Scholar 

  • Feinberg, R. (2000), ‘Asians Seek Their ‘Made-in Asia’ Solutions’, Seoul: Korea Herald, 5 July (http://www.koreaherald.co.kr).

    Google Scholar 

  • Gerschenkron, A. (1962), Economic Backwardness in Historical Perspective, Cambridge, Mass.: Belknap Press.

    Google Scholar 

  • Hallberg, K. (2000), ‘A Market Oriented Strategy for Small and Medium Enterprises’, IFC Discussion Paper 40, Washington, DC.

    Book  Google Scholar 

  • Harvie, C. and B. C. Lee (2002), The Role of SMEs in National Economies in East Asia, Cheltenham: Edward Elgar.

    Google Scholar 

  • Harvie, C. and H. H. Lee (2003), Koreas Economic Miracle: Fading or Reviving?, Palgrave Macmillan, Basingstoke.

    Google Scholar 

  • Kaminsky, G. and S. Schmukler (forthcoming), ‘Short Lived or Long Lasting?: A New Look at the Effects of Capital Controls’, in S. Collins and D. Rodrik (eds), Brookings Trade Forum 2000, Washington, DC: The Brookings Institution.

    Google Scholar 

  • Kaplain, E. and D. Rodrik (2001), Did the Malaysian Capital Controls Work?’, Working Paper 8142, National Bureau of Economic Research, February.

    Book  Google Scholar 

  • Kim, Tae-Joon, Jai-won Ryou and Yunjong Wang (2000), ‘Regional Arrangements to Borrow: A Scheme for Preventing Future Asian Liquidity Crisis’, Policy Analysis, 00–01, Korea Institute for International Economic Policy, November.

    Google Scholar 

  • Krugman, Paul (1998), ‘What Happened to Asia’, mimeo (http://web.mit.edu/krugman/www/disinter.html).

    Google Scholar 

  • Lamberte, Mario B., Ma. Melanie S. Milo and Victor Pontines (2001), NO to YE$?: Enhancing Economic Integration in East Asia Through Closer Monetary Cooperation, Discussion Paper Series No. 2001–16, Philippine Institute for Development Studies, July.

    Google Scholar 

  • Lee, J. W. (1996), ‘Government Interventions and Productivity Growth’, Journal of Economic Growth, pp. 391–414.

    Google Scholar 

  • Lim, L. (1999), ‘Malaysia’s Response to the Asian Financial Crisis’, Statement before the Subcommittee on Asia and the Pacific Committee on International Relations, US House of Representatives, 16 June.

    Google Scholar 

  • Lloyd, P. J. and H. H. Lee (2001), ‘Subregionalism in East Asia and Its Relation with APEC’, The Journal o f the Korean Economy, Vol. 2, No. 2, pp. 211–27.

    Google Scholar 

  • Modigliani, F. (1970), ‘The Life Cycle Hypothesis of Savings and Intercountry Differences in the Savings Ratio’, in W. A. Eltis, M. Fg. Scott and J. N. Wolfe (eds), Induction Growth and Trade: Essays in Honour of Sir Roy Harrod, Oxford: Clarendon Press.

    Google Scholar 

  • Ogawa, E. (2001), ‘A Regional Monetary Fund and the IMF’, paper presented at Conference on New Regionalism in East Asia, Seoul, 11–12 May.

    Google Scholar 

  • Oh, J. and C. Harvie (2001), ‘Exchange Rate Coordination in East Asia’, The Journal o f the Korean Economy, Vol. 2, No. 2, Fall, pp. 249–96.

    Google Scholar 

  • Radelet, S. and J. Sachs (1998), ‘The East Asian Financial Crisis: Diagnosis, Remedies, Prospects’, Brookings Papers on Economic Activity, 1, pp. 1–74.

    Article  Google Scholar 

  • Roche, D. (1998), ‘The View from the Ivory Tower’, Forbes Global, 1998 (available at http://www.forbes.com/global/1998/1005/0113046a.html).

    Google Scholar 

  • Rodrik, D. (1994), ‘King Kong Meets Godzilla: The World Bank and the East Asian Miracle’, in Alter Fishlow etal. (eds), Miracle or Design? Lessons from the Past Experience, Washington, DC: Overseas Development Council.

    Google Scholar 

  • Rodrik, D. (1999), ‘East Asian Mysteries: Past and Present’, NBER Reporter Online, Spring 1999 (http://www.nber.org/reporter/archive.html).

    Google Scholar 

  • Sato, R. and J. A. Rizzo (1986), ‘The Other Side of the Trade Imbalance: What will Japan do?’, Working paper, NBER, No. 2111, Cambridge, Mass.

    Book  Google Scholar 

  • Spero, J. E. and J. A. Hart (1997), The Politics of International Economic Relations, London: Routledge.

    Google Scholar 

  • Wang, Y. (2000), ‘The Asian Financial Crisis and Its Aftermath: Do We Need a Regional Financial Arrangement?’, ASEAN Economic Bulletin, Vol. 17, No. 2, pp. 205–17.

    Article  Google Scholar 

  • World Bank (1993), The East Asian Miracle: Economic Growth and Public Policy, New York: Oxford University Press.

    Google Scholar 

  • World Bank (1998), East Asia: The Road to Recovery, Washington, DC: World Bank.

    Book  Google Scholar 

  • World Trade Organisation (WTO) (1999), ‘Mapping of Regional Trade Agreements: Background Note to the Secretariat’, WTO, Geneva, 1999 (http://www.itd.org/forums/mapping l.pdf).

    Google Scholar 

  • World Trade Organisation (WTO) (2000a), Annual Report of the Committee on Regional Trade Agreements, Geneva: WTO.

    Google Scholar 

  • World Trade Organisation (WTO) (2000b), Focus Newsletter, December, WTO, Geneva.

    Google Scholar 

Download references

Authors

Editor information

Editors and Affiliations

Copyright information

© 2003 Palgrave Macmillan, a division of Macmillan Publishers Limited

About this chapter

Cite this chapter

Harvie, C., Lee, HH. (2003). New Regionalism in East Asia: How Does It Relate to the East Asian Economic Development Model?. In: Van Hoa, T., Harvie, C. (eds) New Asian Regionalism. Palgrave Macmillan, London. https://doi.org/10.1057/9780230377561_4

Download citation

Publish with us

Policies and ethics