Growth Theories in Light of the East Asian Experience.

Growth Theories in Light of the East Asian Experience (NBER-East Asia Seminar on Economics, Volume 4) will be available from the University of Chicago Press in January. This volume analyzes the phenomenal growth of the last few decades in the newly industrializing countries (NICs) in East Asia. It examines the outward-orientation (in contrast to closing and protecting their home markets, as prescribed by earlier development economists) adopted by the NICs, which has fostered growth through exporting. The authors also look at the supportive role of government policy vis-a-vis trade, exchange rates, and the accumulation and promotion of physical and human capital.

The volume begins with an introduction and two overview papers, continues with case studies of the...