"Is there an EA Model?" Taking Stock after the Japanese Miracle and Rise of the NICS

Question 1

Elements Often Attributed to an EA Model?

Answer 1

Export-led growth

Question 2

Culture

Answer 2

Varying family systems

Some commonality in religious beliefs (buddhism) but also lots of variation

Group orientation?

respect for hiearchy

Question 3

Institutions either formal or informal, channel economic behavior

Answer 3

Government system - all authoritarian in one way or another

Question 4

How were the markets regulated in the NICS?

Answer 4

China and Singapore: HIGH

SK: Heavy

Japan and Taiwan: Some

HK: none

Question 5

Business Firms

Answer 5

Importance of family firms and business groups, but with great variations

Question 6

Which business groups relied on gov support

Answer 6

Zaibatsu / Keiretsu in Japan

Chaebol in SK

Question 7

Things to keep in mind:

Answer 7

Hong Kong has higher percent of GDP by top families

Question 8

World Systems:

Answer 8

Relations among countries or regions channel economic behavior

Question 9

Through what means?

Answer 9

American allies ( aid, military protection, ease of doing business)

Question 10

Relations of UK, Singapore, China with WEST

Answer 10

HK was allied with the West
Singapore was a little more neutral
China isolated during the Cold War

Question 11

Contingency

Answer 11

This channels economic behavior

Question 12

Examples of War’s helping build other nations:

Answer 12

Korean War builds Japanese economy

Vietnam War helps build both KOrean and Japanese economies

Question 13

What were export-led models of growth based on?

Answer 13

on cheap labor conveniently enabled by China’s move away form Socialist construction after 1978