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Dana GÂRDU
Academia de Studii Economice din Bucureşti
Fast and shared growth in East Asia was ascribed to strong states and their peculiar institutional arrangements, free-market policies, and Asian values, respectively. This paper provides a critical overview of these rival accounts focusing on their arguments for the miracle, and on post-crisis retrenchement. As paradigms mellowed down, a rapprochement emerged between the state-centric approach and the neoliberal one. Since no paradigm yields a comprehensive explanation of these economies’ trajectory, an eclectic approach is deemed the best alternative to date.
ŒCONOMICA no. 2/2011
Keywords: East Asia, economic development, state interventionism, neoliberalism, Neo-Confucianism
JEL: F59, H11, O10, O20, O53
Modelul de dezvoltare est-asiatic, între miracol şi criză
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