An East Asian Renaissance: Ideas for Economic Growth

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World Bank Publications, 2007 - 365 pages
An East Asian Renaissance, by a World Bank team led by Chief Economist for East Asia & Pacific, Dr Homi Kharas and Economic Adviser, Dr Indermit Gill is the first comprehensive analysis of the new forces and challenges at play in the region since the Bank's seminal report of 1993, The East Asian Miracle. The report argues that regional flows of goods, finance and technology are helping even smaller East Asian countries reap the benefits of economies of scale and that this regional integration must be encouraged. But it also points out that these measures have to be supported by actions at the domestic level to ease the stresses and strains that rapid economic growth leaves in its wake. East Asia must now turn to the urgent domestic challenges of inequality, social cohesion, corruption and environmental degradation arising from its economic success.
 

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Page 233 - Thirdly, and lastly, commerce and manufactures gradually introduced order and good government, and with them the liberty and security of individuals, among the inhabitants of the country, who had before lived almost in a continual state of war with their neighbours, and of servile dependency upon their superiors.
Page 318 - Voice and accountability Political stability and absence of violence • Government effectiveness Regulatory quality • Rule of law...
Page 77 - Little else is requisite to carry a State to the highest degree of opulence from the lowest barbarism, but peace, easy taxes, and a tolerable administration of justice ; all the rest being brought about by the natural course of things.
Page 77 - The final cluster, control of corruption, measures perceptions of corruption, conventionally defined as the exercise of public power for private gain. Despite this straightforward focus, the particular aspect of corruption measured by the various sources differs somewhat, ranging from the frequency of having to make additional payments to get things done...
Page 233 - THE increafe and riches of commercial and manufacturing towns, contributed to the improvement and cultivation of the countries to which they belonged, in three different ways. FIRST, by affording a great and ready market for the rude produce of the country, they gave encouragement to its cultivation and further improvement.
Page 233 - Secondly, the wealth acquired by the inhabitants of cities was frequently employed in purchasing such lands as were to be sold, of which a great part would frequently be uncultivated. Merchants are commonly ambitious of becoming country gentlemen, and when they do, they are generally the best of all improvers.
Page 307 - Unrest in South Thailand: Contours, Causes, and Consequences since 2001.
Page 318 - China, the Democratic People's Republic of Korea, the Lao People's Democratic Republic and Viet Nam (table 6.A).
Page 304 - Stiglitz, for example, argues that capitalism has always been plagued by fluctuations, including financial panics and that 'what is remarkable about East Asia is not that it experienced a crisis in 1997 but that it had experienced so few crises over the preceding three decades — two of the countries had not had one year of downturn and two had experienced one year of recession: a better record than any of the supposedly advanced and well managed OECD countries'.
Page 324 - In terms of economic growth, the only thing worse than a society with a rigid, overcentralized, dishonest bureaucracy is one with a rigid, overcentralized, honest bureaucracy.

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