Quiz 3 Flashcards
Why the miracle?
E asian values; neoliberal: right market, export comparative advantage of highly trained low cost labor; historic/regional background; role of the state
World economic framework modernization theory
Traditional societies-> modern societies through similar development stages
World economic framework neo-liberalist theory
Free trade has comparative advantage
World economic frameworks globalization theory
Developed helps developing with FDI, trade, etc
World economic frameworks communist theory
Capitalist (imperialists) v socialists
World economic framework world systems theory
Hierarchy of nations and division of labor among center and peripheral, hegemonic/core status
Flying geese model
Industrial life cycle-> division of labor among E Asian countries (linked via trade, investment, tech)->promoting economic growth
Political implications of flying geese model
International order in region as hierarchy; does this justify Japanese colonization?
Basics of E Asia dev model
Macroeconomic management, financial system as intermediaries between savings and investment, education policy: human capital
E Asian dev model guiding economic dev
ISI-> export-led growth, encouraging right industry with industrial policies, and cooperating with private sector
E asia industrial policies to encourage right industry
Protecting young industry, adapting foreign tech, encouraging tech innovation, promoting selects industries with direct credit, encourage competition by rewarding winners
E Asian dev model on Japan
Ministry of intl trade and industry; zaibatsu backed by banks; industrial upgrading (textiles-> heavy industry -> auto/electronics); education=human capital; 3 sacred treasures to promote productivity
3 sacred treasures of Japan dev
Lifetime employment systems; seniority wage systems; enterprise unionism
Caveat to Japanese model of dev
Japan was re industrializing
E Asian dev model on Taiwan
Import sub 1953-61, export expansion and heavy/Chem industry (HCI) 1963-78
E Asian dev model on korea
Developmental state->planning and assistance->sustained dev, low inflation, high employment
Authoritarian-> labor oppression and military->chaebol collusion
Local capital chaebol->HCI->state partner for dev
Foreign capital->grants, loans
Differences in e Asian dev model with Taiwan and korea
SK: big chaebols; Taiwan: SMEs
Similarities in E Asian dev model with Taiwan and Korea
Japanese colonial experience, dev strategies, social/political problems (authoritarian regime, suppress democracy, exploit labor)
Why end of e Asia model?
Japan stagnate since 1990s, SE NICs asian financial crisis 1997
Why e asia continues growth?
SK reform from IMF
Modernization theory of democracy
Progressive accumulation of socio-economic changes-> democracy
Caveat to modernization theory of democracy
When poor countries democratize and rich don’t
Marxism theory of democracy
Power struggle between capitalists and working class-> democracy
Caveat to Marxism theory of democracy
In e Asia the working class did not lead the dem transition
Cultural explanation for democracy
Civic culture
Caveat to cultural explanation of democracy
E Asia under influence of Confucianism