Abstract:
There has been considerable discussion on the drivers of economic growth in
East Asia. While most studies recognize that capital accumulation and
macroeconomic management were critical in hastening growth, few have examined
systematically and comparatively how policy frameworks – spearheaded through
selective interventions – stimulated technical progress and the different performance
outcomes achieved by these countries. This article attempts to address the gap by
systematically analyzing the investment regimes, sources of finance, technological
upgrading and policy frameworks of Indonesia, Malaysia, the Philippines, South
Korea and Thailand with a view to explaining their economic growth performance
