Economic Development Of The Asian Tigers Essay - 835 Words

Introduction: The following countries South Korea, Taiwan, Singapore and Hong Kong also commonly known as Asian Tigers were considered to be a part of the third world. Two different Scholars (Harvey and Lee) rather unkindly refer to it as â€Å"economic backwardness† yet the Tigers still stand as rare examples of states which have successfully â€Å"developed† in a manner no one could have predicted fifty years ago and at a considerably faster rate than any of our current efforts at third world development seem to be proceeding. Discussion: How Economists this about Economic Growth: Before examining the economic development of the Asian Tigers, it is important to identify the theoretical framework in which they might sit. Models for economic development are as varied as there are development economists, but at the risk of sacrificing diversity for ease of analysis we can broadly identify three distinctive models. These three models are less cohesive blueprints and more categories of development policy broadly derived from neo-liberal, Keynesian and heterodox economic traditions respectively, which for our purposes we can identify as market led, interventionalist and state-led models for economic growth. The Case Study of successful state led development: 1. South Korea: In 1945, South Korea was finally made independent from Japanese rule, only to be placed immediately under the USA military occupation. The long awaited autonomy it achieved was rapidly overshadowed by the Korean WarShow MoreRelatedAsian Tigers Vs. South Korea1473 Words   |  6 PagesINTRODUCTION The Asian tigers are four countries named Hong Kong, Singapore, South Korea and Taiwan. These states were highly developed countries. These countries were the first states that shifted to industrialization. All the four Asian tigers have a lot of people who are very educated and are perfect in undertaking their tasks. These countries developed and implemented different policies and this result in economic prosperity and tried to do them than any other state. For instance, Hong KongRead More‘The global economy has moved on from the Asian Tigers; the present and the future of the global economy now lie elsewhere.’ To what extent do you agree with this statement? (40 marks)1421 Words   |  6 Pages‘The global economy has moved on from the Asian Tigers; the present and the future of the global economy now lie elsewhere.’ To what extent do you agree with this statement? (40 marks) The Asian Tigers, consisting of Hong Kong, South Korea, Singapore and Taiwan, were the second group of countries to develop after World War II, with the first being Japan. 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