Reform and Recovery in East Asia

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 contributors to this book explore various aspects of the experience of East Asian economies and come to some surprising conclusions regarding the importance of market strengthening and government systems in the sustainability 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 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 i