1 option
The paradox of catching up : rethinking state-led economic development / Li Tan.
- Format:
- Book
- Author/Creator:
- Tan, Li, 1951-
- Language:
- English
- Subjects (All):
- Economic policy.
- Central planning.
- Economic development.
- State, The.
- Free enterprise.
- Soviet Union--Economic policy.
- Soviet Union.
- East Asia--Economic policy--20th century.
- East Asia.
- China--Economic policy--1976-2000.
- China.
- Central planning--Soviet Union.
- Central planning--East Asia.
- Central planning--China.
- Free enterprise--Soviet Union.
- Free enterprise--East Asia.
- Free enterprise--China.
- Physical Description:
- xi, 188 pages ; 23 cm
- Place of Publication:
- Basingstoke [England] ; New York : Palgrave Macmillan, 2005.
- Summary:
- The phenomenon of state-led development has been persistent throughout modern history and remains significant today. Latecomers in the world's development, from Russia in the nineteenth century to contemporary China, have persistently resorted to the state as a developmental instrument in economic 'catch-up'. Why did relatively 'backward' economies tend to take the state-led approach rather than following the free market model? Why did those latecomers that used the state as the coordinator and had the bureaucratic capacity to do so modernize faster than other 'backward' economies? Finally, do the successful state-led developers have the potential to take the lead in world developments? Or under what conditions could they do so? These are the questions the book intends to answer. This book looks into state-led development in the postwar period, offering a new perspective for interpreting the choice of the state-led approach by latecomers and the consequences of such choices.
- Contents:
- 2 Markets and Costs of Using Markets 14
- The 'marvel' of the market 16
- Transaction costs 27
- The visible hand 31
- 3 A Revisit to the Soviet System 36
- Input-driven growth 36
- Behind the rapid input expansion 39
- A narrowly based economy 45
- The informational advantage of backwardness 52
- The eventual collapse 58
- Back to the fundamentals 63
- 4 The East Asian Miracle 68
- Developmental state in a historical perspective 70
- Integration with the world's advanced market economies 79
- The success of Country Inc. 83
- Characteristic of economic leaders 92
- Limitations of the state-led approach: lessons from Japan 99
- 5 China's Transition to a Market Economy 116
- Economic transition: China versus Russia 117
- The invisible hand at work 124
- Power of local governments 132
- The Hong Kong factor 139
- Unfinished transition 147
- 6 The Paradox of Catching Up 163.
- Notes:
- Includes bibliographical references (pages 176-178) and index.
- ISBN:
- 1403949549
- OCLC:
- 57625786
- Publisher Number:
- 9781403949547 (hbk.)
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.