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Structural Change and Economic Growth: The Experience of the East Asian Economies

Rajah Rasiah, University of Malaya, Malaysia

The East Asian economies have attracted attention from policy makers following their successful efforts to quicken economic development. Rapid growth in these countries has been achieved through structural change from low to high value added activities. In all of them the share of manufacturing rose as the economies grew rapidly. With the exception of China and Vietnam where the share of manufacturing in GDP is still growing, it has gradually fallen in the others. However, while deindustrialization in Japan, Singapore, South Korea and Taiwan began to occur only after these economies had become developed, deindustrialization in Indonesia, Malaysia, Philippines and Thailand have taken place while they are still developing. This paper attempts to analyze these different experiences against host country policy interventions with a view towards elucidating lessons for other latecomer economies, such as Pakistan.

Bio

Rajah Rasiah is Professor of International Development at the Faculty of Economics and Administration, University of Malaya. He obtained his doctorate in Economics from Cambridge University in 1992, and was a Rajawali fellow at Harvard University in 2014. He was the first holder of the Khazanah Nasional Chair of Regulatory Studies, and was Dean of the Faculty of Economics and Administration, University of Malaya in 2009-2010 and 2013-2014. He is a member of the GLOBELICS scientific board, and an advisory member of the Industrial Development Research Centre, Zhejiang University, professorial fellow at UNU-MERIT, senior research fellow of the Technology Management and Development Centre at Oxford University. He is the recipient of the 2015 Celso Furtado prize from the World Academy of Sciences for his seminal contributions in the field of social sciences (development economics).

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posted by S A J Shirazi @ 3/24/2016 01:41:00 PM,

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