The Newly Industrializing Countries (NICs) of the Pacific Basin - Taiwan, South Korea, Hong Kong, and Singapore - differ in many ways. Each has its own language, culture, political life, and economic system. But there is one crucial characteristic they all hold in common: each has succeeded in defying in what Peter C.Y. Chow and Mitchell Kellman define as a "vicious circle of poverty" following World War II. In Trade - The Engine of Growth in East Asia, the authors provide a comprehensive analysis of the economic factors which fueled the "engine of growth". They combine a detailed body of empirical data with an unusually broad theoretical framework to highlight the factors in each industry and market which contributed to the success of these countries. The work examines and forecasts potential competition from the surrounding geographic area. It also contrasts the development of the NICs with Japan, with "next tier NICs", and with each other in a variety of markets, including those of the United States and the increasingly unified Europe. Using modern economic theory and sophisticated quantitative techniques, Trade - The Engine of Growth in East Asia will enable scholars, students, policymakers, and professionals to understand the success of these East Asian models of growth.
Industry Reviews
"Chow and Kellman provide a well-thought-out exposition of how these four "tigers" achieved their economic success....Their arguments...are supported by ample empirical data."--Finance & Development
"Chow and Kellman have a considerable mastery of the literature and techniques of empirical international trade analysis."--China Review International
"A major contribution to the advancement of knowledge in the field of trade and economic development of rapidly expanding developing countries."--Choice
"A solid statistical study of the trade flows which have contributed to the phenomenal growth of East Asia. The study captures shifts in East Asia's trade composition, such as the dynamics of Japan's lead over the NICs, which should be of interest to Pacific Basin buffs."--Alice H. Amsden, Leo Model Professor of Economics, Graduate Faculty, New School for Social Research
"Chow and Kellman present the most detailed and comprehensive examination available of the trade of East Asian countries and its role in promoting their rapid economic growth. The exceptionally complete data they have assembled are used to study factors underlying their comparative advantages, the changes in comparative advantage that have taken place, and the reasons for the changes. The authors then use the analysis to project the progress of the next tier of
industrializing countries and to predict the future performance of these countries as exporters."--Robert E. Lipsey, Queens College and the Graduate Center, City University of New York and National
Bureau of Economic Research, Inc.
"Chow and Kellman provide a well-thought-out exposition of how these four "tigers" achieved their economic success....Their arguments...are supported by ample empirical data."--Finance & Development
"Chow and Kellman have a considerable mastery of the literature and techniques of empirical international trade analysis."--China Review International
"A major contribution to the advancement of knowledge in the field of trade and economic development of rapidly expanding developing countries."--Choice
"A solid statistical study of the trade flows which have contributed to the phenomenal growth of East Asia. The study captures shifts in East Asia's trade composition, such as the dynamics of Japan's lead over the NICs, which should be of interest to Pacific Basin buffs."--Alice H. Amsden, Leo Model Professor of Economics, Graduate Faculty, New School for Social Research
"Chow and Kellman present the most detailed and comprehensive examination available of the trade of East Asian countries and its role in promoting their rapid economic growth. The exceptionally complete data they have assembled are used to study factors underlying their comparative advantages, the changes in comparative advantage that have taken place, and the reasons for the changes. The authors then use the analysis to project the progress of the next tier of
industrializing countries and to predict the future performance of these countries as exporters."--Robert E. Lipsey, Queens College and the Graduate Center, City University of New York and National
Bureau of Economic Research, Inc.
