East asian experience on Growth and Equity

Lessons and implications*

Srinivas Kolluru*, Bhanoji Rao

*Corresponding author for this work

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

This article succinctly summarizes the Growth experience of the four East Asian tiger economies (Hong Kong, Korea, Singapore and Taiwan) and three Association of South-East Asian Nations (ASEAN) states (Indonesia, Malaysia and Thailand). The crisis of 1997-98 had come to pass and the economies have returned to Growth but not at the same tempo as in the earlier times. Several of the economies have experienced significantly reduced levels of poverty and visible inequalities. The degree of income inequality (measured by the Gini coefficient), however, stays more or less constant, with the level being especially low in economies that have taken steps to keep it low. A number of lessons and implications can be drawn from the experience of East Asia. Examples are the importance of an investor friendly economic climate, an efficient public sector; explicit advocacy of family limitation; ensuring the building up of infrastructure ahead of time; and minimising visible inequality and inequalities in opportunities.

Original languageEnglish
Pages (from-to)237-246
Number of pages10
JournalGlobal Business Review
Volume12
Issue number2
DOIs
Publication statusPublished - Jun 2011
Externally publishedYes

Keywords

  • East Asian economies
  • Equity
  • Growth

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