Capitalist Development in the Twenty-First Century (original) (raw)
Asia after the Developmental State
Macroeconomics and Finance Research Division (ERMF), assisted by Charissa N. Castillo, coordinated the overall production of the publication. Jean-Pierre A. Verbiest and Cyn-Young Park, together with Akiko Terada-Hagiwara, contributed the first chapter in Part 1, "Overview of economic highlights and prospects." The second chapter in Part 1, "Export or domestic demandled growth in developing Asia?" was prepared by Jesus Felipe and Joseph Lim of the University of the Philippines School of Economics. The special chapter, "Promoting competition for long-term development" was contributed by Douglas Brooks and Lea Sumulong with significant input from Simon Evenett of Oxford University. The ERMF Modeling Team under the supervision of Duo Qin provided projections for the People's Republic of China and the Philippines. Technical and research support was provided
Related papers
Varieties of Capitalism, growth and redistribution in Asia and Latin America1
Both Latin America and Asia observed an impressive growth of their economies from the turn of the century until 2013. in Latin America, growth was, for the first time since ISI (1940's to end of the 1970's), accompanied by a diminution of the great inequality that has characterized this continent due to both a decisive effort of redistribution and the effects of economic growth. In fact, one of the characteristics of the mode of development adopted by many Latin American countries during the commodity super cycle (especially Brazil and Argentina) was to redistribute in order to expand the internal market, allow for the growth of the middle classes and impulse economic growth; a wage led growth (Boyer, 2014). In the midst of the present economic and (notably in Brazil) also political crisis, the question of the sustainability of the growth mode followed by these countries is forcibly posed, and the stability of the gains in terms of reduced inequality and poverty and the growth of the middle classes is also raised.
Growth and Adjustment in East Asia and Latin America
Economía, 2004
En este artículo se comparan las experiencias del Este Asiático y América Latina en cuanto a crecimiento y ajuste macroeconómico entre los años 1970 y 2000. Los resultados indican que la diferencia entre ambas regiones se puede atribuir a que difieren en factores fundamentales de crecimiento tales como su tasa de inversión, recursos humanos, fertilidad, calidad de sus instituciones, estabilidad macroeconómica y grado de apertura comercial. También se examina el rol que cumplen las diferencias de calidad en la educación y la desigualdad entre ambas regiones. También han contribuido a diferenciar el comportamiento del crecimiento los shocks de balanza de pagos. El análisis revela que las tasas de crecimiento tienden a caer solo temporalmente luego de una crisis de balanza de pagos para luego volver a los niveles previos a la crisis, lo que produce la típica forma de "v" en las funciones de producto tanto en el Este Asiático como en América Latina. Sin embargo, a menudo se asocia una crisis de balanza de pagos con una caída sustancial de las tasas de crecimiento, la que termina en una nueva crisis en el futuro. Tras analizar qué determina el costo de las crisis en términos de producto, se puede concluir que la liquidez internacional, la solvencia financiera, la depreciación del tipo de cambio real y la política monetaria juegan roles esenciales en cuanto a reducir las pérdidas de producto.
Loading Preview
Sorry, preview is currently unavailable. You can download the paper by clicking the button above.