The economic miracle in the Asia-Pacific was arguably the most spectacular developmental experience of the twentieth century. However, in 1997-8 financial crises engulfed these 'miracle' economies, raising questions about the viability of an East Asian development model. In this book, the authors consider how the Asia-Pacific economies have developed since the financial crises, and highlight two inter-related themes: the effect of global forces on the national Asian economies and the different development paths taken by these economies as they jointly entered this new phase. Questions raised by the book include: * is globalisation a threat to development and prosperity in the Asia-Pacific, or did globalisation facilitate and accelerate the pace of industrialization among late industrialisers in the region? * is there a single Asia-Pacific development model or did the crisis show this to be false? * did the financial crisis reveal structural weaknesses in an Asia-Pacific state-led model or was state leadership already in demise?
Development and Structural Change in Asia-Pacific provides a useful and relevant account of how the global economy has led to structural change within Asian economies. It will be of interest to students and researchers in Asian Studies, Economics and Development Studies.