LONDON WCI HOXG

Since the 1980s, a widespread view has arisen in the literature that the post-1950 economic successes of Taiwan and the Republic of Korea have been due, in part at least, to the legacy of Japanese colonialism. This paper challenges that view by comparing Japanese economic achievements in both Taiwan and Korea with those of the British, French, Dutch and Americans in their Southeast Asian colonies. The paper examines the record of economic growth and structural change across the various colonies, and also discusses policies relating to government revenue and expenditure and to trade, exchange rates and the balance of payments. The paper also looks at some non-monetary indicators relating to living standards, including mortality rates and educational enrolments. The main conclusion is that the facts do not wholly support the case for Japanese exceptionalism. 1Versions of this paper have been presented in seminars in London, Melbourne, Canberra, Singapore and Tokyo. I am very grateful to participants for many helpful suggestions; I accept full responsibility for all remaining errors of fact and interpretation. 2