East asian newly industrializing countries
Equity, in other words, may have been a precondition of economic growth. In fact, most nations are tied to the world economy in multiple ways. The social cost involved in some of these dualities is considerable, but on the whole, they account for a sizeable part of the capacity for economic and social adjustment in the NIEs. The average gross saving rate for the Four turns around 33 percent over the period , similar to that of Japan's 32 percent, and more than double that of the U.
Newly industrialized country - Wikipedia
Singapore and Hong Kong, after the war, focused on the development of an efficient and free capital market in addition to indirect finance. The conservatism of these political regimes has obviously been a creative one, to use T. In the Gerschenkron approach, it is the one of the Four that comes closest to the Japanese model. If one looks at economies between and that are characterized by high growth GDP per capita annual increases above 4. Agricultural economics , study of the allocation, distribution, and utilization of the resources used, along with the commodities produced, by farming. Some countries may also be demoted from NICs to frontier markets if their economies have regressed due to deteriorating economic or political environments.
Newly industrialized country
The balance was settled at an extremely high level indeed. The result is a powerful suggestion of the functional quality of pragmatic policy-making, both private and public. High rates of investment, exceeding 20 percent of GDP during , especially private investment, were supported by a rapid increase in domestic savings; indeed, the HPAEs are the only developing economies in which savings exceed investment, making them net exporters of capital 4.
Korea and Taiwan have imitated the Japanese example and have penetrated the U. Government activities and autonomous factors were inextricably intertwined. Everyone benefited from the recovery made possible by this implicitly gregarious move. To be sure, this unexpected spur of Hong Kong government's activism was certainly more inspired by the more modest theory of Second Best than by the more radical theory of backwardness. Parsons' theory would be falsified if it could be proved that a particular society has survived over time despite consistent lack of any one of the four Parsonian functional requirements. This compilation shows that there are not one, but several theories that can claim Asian compliance. Sharpe, , p.