Podcast
Questions and Answers
What economic strategy did successful African economies adopt after independence?
What economic strategy did successful African economies adopt after independence?
Which notable economist served as the vice president for research at the World Bank and highlighted government failures in development?
Which notable economist served as the vice president for research at the World Bank and highlighted government failures in development?
What was one major factor affecting African economies negatively post-independence?
What was one major factor affecting African economies negatively post-independence?
What does the historical pattern of economic growth in Africa from 1950 to 1970 primarily indicate?
What does the historical pattern of economic growth in Africa from 1950 to 1970 primarily indicate?
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In analyzing the economic success of East Asia, what did Ronald Findlay find to be significant?
In analyzing the economic success of East Asia, what did Ronald Findlay find to be significant?
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What aspect of India's economic history is debated among economists?
What aspect of India's economic history is debated among economists?
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What characterized the economic policies in major successful economies like Germany, Japan, and Korea?
What characterized the economic policies in major successful economies like Germany, Japan, and Korea?
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What is a primary critique of attributing Africa's economic performance merely to government intervention?
What is a primary critique of attributing Africa's economic performance merely to government intervention?
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What is the main criticism directed towards the 'weak government' hypothesis in the context of economic development?
What is the main criticism directed towards the 'weak government' hypothesis in the context of economic development?
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According to the critique of neoliberal economic policies, which statement is often mistakenly associated with countries like Korea and Taiwan?
According to the critique of neoliberal economic policies, which statement is often mistakenly associated with countries like Korea and Taiwan?
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What do neoliberal economists believe about government intervention in economic growth?
What do neoliberal economists believe about government intervention in economic growth?
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What phenomenon does Deepak Lal refer to that critiques development economics?
What phenomenon does Deepak Lal refer to that critiques development economics?
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What critique is leveled at the methodologies used by development economists like Levine and Renelt?
What critique is leveled at the methodologies used by development economists like Levine and Renelt?
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What does the author imply about the relationship between neoliberal policies and economic growth in different contexts?
What does the author imply about the relationship between neoliberal policies and economic growth in different contexts?
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What implication can be drawn about the authors' views on state-society relations in economic development?
What implication can be drawn about the authors' views on state-society relations in economic development?
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How do the views of neoliberal economists contrast with traditional perspectives on state intervention?
How do the views of neoliberal economists contrast with traditional perspectives on state intervention?
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How has the Korean state influenced its economic structure?
How has the Korean state influenced its economic structure?
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What role do large, diversified business groups play in Korea's economy?
What role do large, diversified business groups play in Korea's economy?
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What is one significant statistic reflecting the growth of business groups in Korea from 1974 to 1984?
What is one significant statistic reflecting the growth of business groups in Korea from 1974 to 1984?
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How does the Korean state manage relationships with large firms?
How does the Korean state manage relationships with large firms?
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What distinguishes the Korean economic model from the neoclassical model?
What distinguishes the Korean economic model from the neoclassical model?
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How does the Korean state view the performance of business groups?
How does the Korean state view the performance of business groups?
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What is a characteristic of intra-firm transactions in the Korean economy?
What is a characteristic of intra-firm transactions in the Korean economy?
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Which strategy has Korea employed regarding incoming and outgoing investments?
Which strategy has Korea employed regarding incoming and outgoing investments?
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Study Notes
Article Review: East Asia's Economic Success
- The review examines three books: Asia's Next Giant, Pathways from the Periphery, and Achieving Industrialization in East Asia.
- The author, Robert Wade, criticizes the prevailing neoliberal interpretation of East Asian success.
- The neoliberal perspective attributes economic success to adherence to neoclassical economic principles, emphasizing market efficiency and minimal government intervention.
- The author argues this interpretation is incomplete and misleading.
- Government involvement in East Asian economies was substantial and actively shaped industrialization.
- "Comparative advantage" arguments were frequently used to justify inaction by East Asian governments, however, the author argues that these policies were often effective.
- The author points out that East Asian success involved active government intervention, favorable political environments, and effective macroeconomic management, in addition to market mechanisms.
- The role of the state in providing infrastructure, fostering stability and managing risk allocation is highlighted.
- The author questions the universality of the neoliberal model, highlighting the importance of diverse contexts for analyzing economic outcomes.
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