Reform and Recovery in East Asia The Role of the State and Economic Enterprise

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 programmes 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 excellent, international 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. Reform and Recovery in East Asia 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. This exciting sequel to East Asia in Crisis offers a completely up-to-date assessment of the progress of East Asian recovery and provides a detailed review of the experience in the region's economies. It is stimulating and informative reading for all those interested in further understanding the dynamics of East Asian economic crisis and recovery. Prema-Chandra Athukorala Australian National University, Australia, Cheng Yuk-Shing Hong King Baptist University, Chia Siow Yue Institute of Southeast Asian Studies, Singapore.