The resurrection of East Asian dynamism: a call to look beyond the orthodoxies in development studies.

During the 1980s and much of the 1990s, East Asia was the most dynamic region in the global economy (see table 1). China had the highest growth rate in the world; the four "little dragons" of Hong Kong, Singapore, South Korea, and Taiwan were not far behind; and Japan had the highest growth rate by a considerable margin among the industrialized nations during the 1970s and 1980s, although the bursting of its "bubble economy" in 1989 brought economic stagnation throughout the 1990s.

This "East Asian dynamism" (Chart 1993) was widely recognized, and many ...

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