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The Rule of Government in East Asia Economics Development

This book is the result of a project cosponsored by the Economic Development Institute (EDI) at the World Bank and by the Center for Economic Policy Research at Stanford University. The project was conceived in the autumn of 1993 with the objective of advancing an understanding of the role of the government in East Asian development. Initially we specifically set the following three aims:

1. In contrast to the traditional view that regards government and the market as alternative resource allocation mechanisms, to treat government as an integral element of the economic system, functioning sometimes as a substitute and other times as a complement of other institutional elements (e.g., private order organizations, markets, and various intermediaries).

2. To explore generic characteristics of East Asian economies in comparison to economies in other regions, while recognizing the diversity of institutional settings across East Asian economies.

3. To try to understand the role of government in East Asian economic development through interactions among economic theory, development economics, political science, and economic history.

However, we fully realize that an attempt to advance a coherent alternative paradigm of East Asian economic development incorporating all three of these aims was perhaps not fully possible yet. These aims were set only as a guide for exploring a new perspective of East Asian development with the collective efforts and expertise of scholars from different disciplines and countries 418 pages