INTERNATIONAL POLITICAL ECONOMY
1. Topic investigate3
2. General information3
2. MAIN PART4
1. Domestic financial development in emerging countries4 2. The nature of growth.4
3. Role of public policy5
4. Miracle on the Han River6
1. Exponential growth from 1960s to 1980s7
2. High-tech industries7
5. Taiwan Miracle8
2. Era of globalization9
3. Future Growth10
6. Importance that the European Central Bank gives to education10 7. Asian tigers facing difficulties10
8. How emergent countries face the crisis11
1. Asia’s recovery in the global context12
2. What has been driving Asia’s recovery12
3. Longer-term challenge to rebalance growth13
1. Topic investigated
Why did the Asian economies grow so fast? Can other economies learn from Asian economy? Where do the emerging market economies (also referred to as emerging economies or emerging countries) stand in terms of domestic financial development compared to mature economies?
This paper tries to address all this questions and some other issues related to the “Emergency of the Asian tigers and dragons and their coping with the crisis”. I will explain this topic through the analysis and evaluation of “The miracle on the Han River” in South Korea and the “Taiwan Miracle” both of them taking place between the 1960s and 2000s.
At the end of the paper I will finally refer to the Asian financial crisis and how they are recovering from it.
2. General Information
The four Asian Tigers, Hong Kong, Taiwan, Singapore and South Korea, are also known as Asias’s Four Little Dragons in China as, during...