Asian Industrialization and Africa: Studies in Policy Alternatives to Structural Adjustment

295 Pages·1995·28.95 MB·English

by  Howard Stein (eds.)

INTERNATIONAL POLITICAL ECONOMY SERIES
General Editor: Timothy M. Shaw, Professor of Political Science and Inter-
national Development Studies, and Director of the Centre for Foreign Policy
Studies, Dalhousie University, Nova Scotia, Canada
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Political Economy of Foreign Policy in Africa
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SOUTHEAST ASIA IN THE NEW WORLD ORDER: The Political Economy of
a Dynamic Region
Asian Industrialization
and Africa
Studies in Policy Alternatives
to Structural Adjustment
Edited by
Howard Stein
Associate Professor of Economics
Roosevelt University, Chicago
~
Palgrave Macmillan
ISBN 978-0-333-65727-0 ISBN 978-1-349-24473-7 (eBook)
DOI 10.1007/978-1-349-24473-7
ASIAN INDUSTRIALIZATION AND AFRICA
Selection, editorial matter, Chapters I and 2 © 1995 by Howard Stein
Chapters 3-8 © 1995 by Macmillan Press Ltd
All rights reserved. No part of this book may be used or reproduced
in any manner whatsoever without written permission except in the
case of brief quotations embodied in critical articles or reviews.
For information, address:
St. Martin's Press, Scholarly and Reference Division,
175 Fifth Avenue, New York, N.Y. 10010
First published in the United States of America in 1995
ISBN 978-0-312-12433-5 (cloth)
ISBN 978-0-312-12773-2 (paper)
Library of Congress Cataloging-in-Publication Data
Asian industrialization and Africa : studies in policy alternatives to
structural adjustment I edited by Howard Stein.
p. em.
Includes bibliographical references.
ISBN 978-0-312-12433-5 (cloth)-ISBN 978-0-312-12773-2 (pbk.)
I. Industrial promotion-Asia, Southeastern. 2. Industrial
policy-Asia, Southeastern. 3. Industrial promotion-East Asia.
4. Industrial policy-East Asia. 5. Industrial policy-Africa.
6. Africa-Economic policy. 7. Africa-Economic conditions-1960-
1. Stein, Howard, 1952-
HC44l.Z91533 1995
338.95--dc20 94-31707
CIP
To Alisa and Joshua
Contents
List of Tables and Figures ix
Notes on the Contributors xt
Acknowledgements xm
Abbreviations xiv
Maps of East and Southeast Asia and Sub-Saharan Africa xvi
Policy Alternatives to Structural Adjustment in Africa: An
Introduction
Howard Stein
2 The World Bank, Neo-Classical Economics and the
Application of Asian Industrial Policy to Africa 31
Howard Stein
3 Japan's Industrial Development, 1868-1939: Lessons for
Sub-Saharan Africa 53
E. Wayne Nafziger
4 The Korean Miracle (1962-80) Revisited: Myths and
Realities in Strategies and Development 87
Kwan S. Kim
5 The State as Agent: Industrial Development in Taiwan,
1952-1972 145
Deborah Brautigam
6 Colonialism and Entrepreneurship in Africa and Hong
Kong: A Comparative Perspective 183
S. Gordon Redding and Simon Tam
7 Foreign Investment, the State and Industrial Policy in
Singapore 205
Linda Lim
vii
viii Contents
8 East Asia and Industrial Policy in Malaysia: Lessons for
Africa? 239
Chris Edwards
Bibliography 257
Index 279
List of Tables and Figures
Tables
4.1 The Industrial Composition of South Korean Public
Sector Investment 93
4.2 Comparison of South Korean Bank Interest Rates in
Export vs. Commercial Loans 98
4.3 Effective Exchange Rates for South Korean Exports 101
4.4 Nominal and Effective Rates of Protection by Industry,
South Korea (1968 and 1978) 105
4.5 Sources of Foreign Direct Investment in South Korea
(1962-82) 110
4.6 Contribution to Value Added by Conglomerates in
South Korea 113
4.7 South Korean Growth Rates in Manufacturing Output
and Employment by Size of the Firm (1967-1979) 114
4.8 Real Wages and Labor Productivity in Manufacturing,
South Korea (1967-1977) 116
4.9 Wage Earnings in Relation to Gross Output and Value
Added in Manufacturing, South Korea (1958-1976) 118
4.10 Per Worker Man-Hours in Selected East Asian
Countries 118
4.11 Comparisons of Planned Targets and Performance,
South Korea (1962-1981) 129
7.1 Singapore's Economic Performance (1960-1990) 206
7.2 Foreign Direct Investment Stock in Manufacturing,
Singapore (1970-89) 217
7.3 Foreign Direct Investment Stock in Manufacturing by
Industrial Sector, Singapore (1980 and 1989) 218
7.4 Foreign Direct Investment Stock in Manufacturing by
Country of Origin, Singapore (1980 and 1989) 218
7.5 Principal Statistics of Manufacturing by Major Source
of Capital, Singapore 1990 220
7.6 Selected Ratios of Manufacturing Statistics by Capital
Ownership, Singapore 1990 221
ix
X List of Tables and Figures
8.1 Phases of Industrial Development in Malaysia 243
8.2 The Import Content of Manufactured Goods -
Malaysia (1987) and South Korea (1975) 244
8.3 SSA, Malaysia and South Korea: A Comparison 247
Figures
4.1 Korea's Neomercantalist Model 90
4.2 Nominal and Effective Exchange Rates for Korean
Exports 100
4.3 Real Wages and Labor Productivity in Manufacturing,
South Korea (1967-1978) 117
6.1 A Framework for Exploring the Contextual Structure of
Chinese Business 186
6.2 The Link between Social and Entrepreneurial Dynamics 198
8.1 Industrialization and GOP 249