ON THE EAST ASIAN MIRACLE -THE SUSTAINED GROWTH AND ITS RELATION TO THE INITIAL CONDITIONS AND POLICY EFFORTS-

This paper deals with the problems of the sustained ecomonic growth of East Asian countries, concentrating on their possible conditions for it. First, it discusses some of the main issues raised by a number of authors in the recent academic literature in connection with the so-called "Asia\u27s Miracle" signifying the achievement of a rapid and sustained growth by East Asian economies during these two or three decades. And then, postulating a mathematical model with emphasis on accumulation of technological knowledge, it makes a theoretical investigation into possible conditions for the sustained economic growth of Asian countries at their developing stage. Besides, attention is paid to the different policy efforts to make the "Miracle" taken by the North-East Asian countries, Japan and South Korea, at their early industrialising stage and by other growing Asian economies, Hong Kong, Singapore, and the newly industrialising economies (NIEs) -Thailand, Malaysia, and Indonesia