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Abstract

The spectacular development experience of East Asia newly industrializing countries (EANICs) and Latin American NICs (LANICs) is compared. Growth in EANICs was driven by non-dogmatic, export oriented policy based on adequate understanding of factor intensity. Export orientation came late in LANICs; was denied the course of comparative advantage; and also suffered from deficient leverage the state had enacting policies. Sub-Saharan Africa (SSA) is a total contrast to NICs in terms of development orientation and policy. Economic liberalization and stabilization promoted in the right sequence is considered key to success. This however needs a radical redefinition of the SSA state itself.

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