By Howard Stein
Drawing on case-studies from the industrialization of East and Southeast Asian countries, this article seriously examines the structural adjustment rules utilized in Africa because the Eighties. The Asian nation reviews comprise Singapore, Malaysia, Taiwan, South Korea, Hong Kong and Meiji Japan.
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Additional info for Asian Industrialization and Africa: Studies in Policy Alternatives to Structural Adjustment (International Political Economy Series)
25). Thus import-substitution is seen largely as a liability in which the earlier the country shifted directions, the more '. they avoided the burdens to exports that extending import-substitution to intermediate goods would have entailed' (p. 25). We will see below that this overstates the case and creates a rather false dichotomy. 36 Application of Asian Industrial Policy to Africa Second, outward orientation according to the World Bank was less of a policy shift in support of export orientation than ' .
During the 1950s it accounted for five-sixths of Korea's imports. (Evans, 1987, p. 210). Security considerations are 34 Application of Asian Industrial Policy to Africa likely not to be a factor in Africa in justifying the massive inflow of support which would be required to build up infrastructure. The irreducibility of social attributes is tied to the argument that certain variables associated with the success of NICs are linked to the character of the population which is not easily broken down into economic components that can be readily reproduced with policy surrogates.
This would seem to illustrate the effectiveness of the state's support for industry. Similarly some of the data reflects the state's heavy support. In Korea, for instance, as indicated in Kwan Kim's chapter, metal products and machinery were promoted by the government. In 1988 their percentage of value added was almost three times the norm . Of course taking global averages as a hypothetical reflection of what would have happened in a country without government intervention hardly reflects the pattern of what would have occurred given the particular endowments of each country.