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Governing the Market : Economic Theory and the Role of Government in East Asian Industrialization - Robert Wade

Governing the Market

Economic Theory and the Role of Government in East Asian Industrialization

Paperback Published: 19th December 2003
ISBN: 9780691117294
Number Of Pages: 496

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Published originally in 1990 to critical acclaim, Robert Wade's "Governing the Market" quickly established itself as a standard in contemporary political economy. In it, Wade challenged claims both of those who saw the East Asian story as a vindication of free market principles and of those who attributed the success of Taiwan and other countries to government intervention. Instead, Wade turned attention to the way allocation decisions were divided between markets and public administration and the synergy between them. Now, in a new introduction to this paperback edition, Wade reviews the debate about industrial policy in East and Southeast Asia and chronicles the changing fortunes of these economies over the 1990s. He extends the original argument to explain the boom of the first half of the decade and the crash of the second, stressing the links between corporations, banks, governments, international capital markets, and the International Monetary Fund. From this, Wade goes on to outline a new agenda for national and international development policy.

Winner of the 1992 Best Book Award of the Political Economy Section of the American Political Science Association "[This] study by Robert Wade is one of only a handful that describes how economic policy in East Asia has actually worked... A superb book... Governing the Market demystifies East Asia's miracle without making it seem any less remarkable. It assaults idle prejudice on every side of the debate about markets and the role of government. It is long overdue, and deserves to be widely read."--Economist "This valuable book provides a quite detailed and carefully analytical account of the economic development of Taiwan and its political and social setting... [Wade] makes a good case for his view that while market forces, at home and abroad, have been given much play, the government has also played a key part."--Foreign Affairs

List of Figures
List of Tables
Introduction to the 2003 Paperback Edition
Introductionp. 3
States, Markets, and Industrial Policyp. 8
The Rise of East Asiap. 34
The Neoclassical Explanationp. 52
State-led Industrialization, 1930s to 1980sp. 73
Management of Foreign Trade and Investmentp. 113
Management of Domestic Investmentp. 159
The Economic Bureaucracyp. 195
The Political Systemp. 228
Politics of Investment and Industrial Policyp. 256
Conclusions (1): Governing the Market in East Asiap. 297
Conclusions (2): Lessons from East Asiap. 345
Fiscal Incentivesp. 383
Politics of the 1958-62 Economic Reformsp. 387
Referencesp. 395
Indexp. 425
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9780691117294
ISBN-10: 0691117292
Audience: Tertiary; University or College
Format: Paperback
Language: English
Number Of Pages: 496
Published: 19th December 2003
Publisher: Princeton University Press
Country of Publication: US
Dimensions (cm): 24.1 x 16.8  x 2.7
Weight (kg): 0.67
Edition Number: 2
Edition Type: Revised