Reform and Recovery in East Asia

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The role of the state in East Asian development has always been a controversial topic. The financial crisis in East Asia has rekindled the debate over the appropriate roles of the state and economic enterprise across the region. With extensive reform programs underway in almost every economy, there is a renewed focus on the role that governments and governance can play both in determining future performance and preventing future catastrophe. The contributors to this book explore various aspects of the recent experience of East Asian economies and come to some surprising conclusions regarding the importance of market strengthening and government systems in the sustainabilty of economic recovery. This book argues that the process of recovery is largely cyclical, but that reforms can play a major part in reducing future vulnerability. It concludes that successful structural reform is a central determinant of long-run growth performance, particularly as countries approach the technological frontier.

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