Economic Development in a Globalized Environment

1: General Considerations.- 1: Introduction.- 1. The World We Live In.- 2. The Benchmark Path for Catching Up.- 3. Inspection of the Foundations of the Benchmark Path Model.- Appendix 1.1 Some Statistical Description.- Appendix 1.2 The Implications of Trend Acceleration.- Summary.- Questions and Exercises.- 2: Replicable Cases?.- 1. East Asian Economies in the Trading World.- 2. The Shared Initial Conditions.- 3. The Economic Consequences of Confucianism.- 4. The Example of Japan: Achievements and Impact.- Appendix 2.1 A Model for the Dynamics of Human Capital.- Ancient Times.- Summary.- Questions and Exercises.- 3: Conditions for Sustained Growth.- 1. Regularities, Explanations and Implications.- 2. Learning-By-Doing and Trade.- Appendix 3.1 Examples of Learning-By-Doing.- Summary.- Questions and Exercises.- 4: Channels for Technology Acquisition.- 1. Product Cycle and Staged Development.- 2. The Game of Technology Transfer.- 3. Brain Drain and Reverse Brain Drain.- Culmination of the Catching Up Process.- Summary.- Questions and Exercises.- 5: Major Debates in Economic Development.- 1. Industrial Policy for a Development State.- 2. Liberalism and Revisionism.- 3. Pitfalls in Measuring Productivity Gain.- Summary.- Questions and Exercises.- 6: Crisis amidst Growth.- 1. General Remarks.- 2. The Volatility of the Terms of Trade - A Simple Example.- 3. The Political Economy of Debt Crisis.- 4. Connectedness Over Disjoint Subsystems.- Concluding Remarks.- Appendix 6.1: Debt Crisis and Rescue - A Theoretic Perspective.- Summary.- Questions and Exercises.- 2: Economy-Specific Evidence.- 7: The Republic of Korea.- 1. General Observations.- 2. The Necessary and Sufficient Conditions.- 3. Governing the Market, Park's Style.- 4. The Heavy Chemical Industry Drive (HCI) and General Trading Company (GTC).- 5. Korea after Park and a Reappraisal.- 6. A Comparison with Japan and Other NIEs.- 7. Replicability and Other Lessons.- Appendix 7.1: Why Does the Philippines LagBehind

AFFILIATIONS:

Professor, Cornell University, Ithaca, NY 1970 - present

Associate Professor, University of California, Davis, CA. 1965-1970

Assistant Professor, University of Washington, Seattle, Washington, 1964-1965

Lecturer, University of New South Wales, Kensington, N.S.W. Australia, 1963-1964

Associate Professor, National Taiwan University, Taipei, Republic of China, 1961-1963

EDUCATION:

Ph.D. in Economics, M.I.T. 1961

M.A. in Economics, Bucknell University, 1958

B.A. in Business Administration, National Taiwan University, Taipei, Republic of China, 1952

"This highly original book cleverly combines pointed theoretical insights with sharp site-specific observation. Henry Wan believes that the key to rapid growth in East Asian development has been a successful process of selective catching-up technologically with world best practice. Yes, yes, you will say, but what should one do? A careful reader will come away with an organized knowledge of what has been done, what worked, and what didn't, ranging all the way from broad social institutions to particular regulations, along with an agenda for thought and action." (Robert M. Solow, Institute Professor Emeritus, Massachusetts Institute of Technology; Nobel Laureate of Economics, 1987) "Henry Wan Jr. is a world class economist with an unmatched grasp of both international and development economics. To understand Asia's remarkable transformation, one needs both these disciplines and a large dose of wisdom and insightfulness as well. Wan has uniquely combined all these requisites to write a splendid and invaluable analysis that no scholar can ignore. It is a tour de force." (Jagdish Bhagwati, University Professor, Columbia University) "During the second half of the 20th century, four East Asian countries traveled from the ranks of the poor to those of the rich. After years of unrelenting research work on this topic, Professor Wan finally puts forward his valuable views in a single monograph that tells a coherent and well-argued story of catching-up based on technology diffusion and international trade." (Jaume Ventura, Pentti Kouri Career Development Associate Professor of Economics, Massachusetts Institute of Technology)