The role of industrial and technology policy in economic development has been a controversial issue in the literature on economic development of developing countries. In particular, the positive role of the state in the rapid economic growth of East Asia has been questioned in the light of the recent Asian financial crises which has ravaged growth in much of East Asia. The East Asian Miracle has been alleged to be the East Asian Mirage instead, while the continued weakness of the Japanese economy has been used to discredit the role of industrial policy of any kind. In response to such sweeping negation of the role of state intervention, this volume provides a careful historical analysis of the development experience of the five most advanced countries in East Asia - Japan and the four Asian NIEs (Taiwan, Korea, Singapore and Hong Kong) - to provide a more balanced interpretation of the role and contribution of industrial and technology policy in these five countries. Written by...

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