Introduction to basic concepts of economic growth. This section will provide an introduction to contemporary views of economic growth in industrialized and developing countries, covering the major sources of growth. The roles of human capital, technology, infrastructure, institutions, the state, competitive markets and the trade regime, will be discussed in detail. A simple introduction to growth accounting will also be provided. This section develops the analytical framework that is used to examine the particular instances of growth in East Asia.
Special emphasis is placed on examining the role of markets.
Long term growth patterns of East Asia in historical perspective. East Asian countries have exhibited extraordinarily high rates of growth sustained over many decades, judged by previous standards for industrial countries. Growth and crisis in South Korea. The chaebol have mastered key technologies and expanded globally in a very short space of time. They have now grown more powerful than the state which incubated them and also display weaknesses that need to be corrected.