Asian economies are experiencing rapid growth, making the region one of the three main poles of the global economy. This phenomenon is often referred to as a miracle, yet even miracles require explanation. Experts and scholars have identified common elements in Asian economic growth, while also noting significant differences among individual countries. In this course, students will explore both the similarities and differences in the development paths of various Asian countries, including Japan, India, Taiwan, the Republic of Korea, China, Vietnam, and others. Special emphasis will be placed on institutional economic reforms such as the choice between socialist and capitalist development models, their rejection, and the establishment of market-oriented institutions as well as the restrictions and support for foreign trade and participation in the global division of labour. We will also discuss industrial policy approaches and savings stimulus. Another crucial aspect of the course will be the distinction between economic growth and development. We will aim to identify the causes of poverty by analyzing its components, such as inadequate access to education, savings, nutrition, and insurance, and examine how these factors contribute to the persistence of poverty. Additionally, we will investigate elements that hinder the provision of public goods, including corruption and political institutions. Obligatory readings: PERKINS, D. H. (2013). East Asian Development. Cambridge, Massachusetts: Harvard University Press. SCHUMAN, M (2010). The Miracle: The Epic Story of Asia's Quest for Wealth. Reprint edition. Harper Business. Recommended literature: ACEMOGLU, Daron, ROBINSON, J. (2012) Why Nations Fail? The Origins of Power, Prosperity, and Poverty. New York: Crown. AIGINGER, Karl, and Dani RODRIK (2020). "Rebirth of industrial policy and an agenda for the twenty-first century." Journal of industry, competition and trade 20 (2020): 189-207. BANERJEE A., IYER L (2005). "History, Institutions, and Economic Performance: The Legacy of Colonial Land Tenure Systems in India." American Economic Review. 95 (4): 1190-1213 DREGER Christian, & Dierk HERZER. (2011). A Further Examination of the Export-Led Growth Hypothesis. Discussion Papers of DIW Berlin. BRUGGER Florian. (2016). Asias Reserve Accumulation: Part of a New Paradigm. Asian Economic and Financial Review, 8, 457. HARVIE, Charles, and HyunHoon LEE. "Exported industrialisation and growth: Korea's economic miracle, 1962-1989." Australian Economic History Review 43.3 (2003): 256-286. HAYASHI, S. (2010). The developmental state in the era of globalization: beyond the Northeast Asian model of political economy. Pacific Review, 23(1), 45-69. HAGGARD, Stephan (2018). Developmental states. Cambridge University Press, 2018. HARRISS, John (2023). Rural development: Theories of peasant economy and agrarian change. Taylor & Francis. KORNAI, János (2013). Dynamism, rivalry, and the surplus economy: Two essays on the nature of capitalism. Oxford University Press. MADDISON, Angus (2013). Economic Growth in Japan and the USSR. Routledge. NAUGHTON, Barry, and Kellee S. TSAI, eds. (2015) State capitalism, institutional adaptation, and the Chinese miracle. Cambridge University Press. NGO, Christine, and Vlad TARKO (2018). "Economic development in a rent-seeking society: socialism, state capitalism and crony capitalism in Vietnam." Canadian Journal of Development Studies/Revue canadienne d'études du développement 39.4: 481-499. RUMER, Boris Z. (2023) Soviet Central Asia: 'a tragic experiment'. Routledge.
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