Bryan Cheang
Economic Liberalism and the Developmental State: Hong Kong and Singapore's Post-war Development
Economic Liberalism and the Developmental State: Hong Kong and Singapore's Post-war Development
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The book provides a fresh perspective on the debate over the role of the state in East Asias development history, comparing the post-war development policies of Singapore and Hong Kong. It argues that their strong economic performances preceded and persisted despite, not because of, developmental state policies. The Hong Kong economy exhibits greater levels of indigenous entrepreneurship, productivity, and innovation, making it a cautionary tale on the use of non-comprehensive development planning in the twenty-first century. It renews the case for economic liberalism in development policy through a unique Asian cultural lens.
Format: Hardback
Length: 352 pages
Publication date: 11 November 2022
Publisher: Springer International Publishing AG
This comprehensive book delves into the intricate debate surrounding the role of the state in East Asia's development history, offering a fresh perspective on the matter. By comparing the post-war development policies of Singapore and Hong Kong, the author argues that their strong economic performances preceded and persisted despite, rather than because of, developmental state policies. While both nations cannot be classified as pure free markets, Hong Kong's economy comes closer to that ideal and exhibited clear advantages over state-driven Singapore in terms of greater levels of indigenous entrepreneurship, productivity, and innovation.
The book sheds light on the complex ways in which states penetrate markets, which are often overlooked in liberal accounts of Hong Kong and Singapore as 'free-market success stories.' At the same time, it serves as a cautionary tale regarding the use of non-comprehensive development planning in the twenty-first century, where the unprecedented degree of complexity complicates economic policy and industrial upgrading. Through a unique Asian cultural lens, the book renews the case for economic liberalism in development policy, providing valuable insights into the region's economic development challenges and opportunities.
Weight: 616g
Dimension: 210 x 148 (mm)
ISBN-13: 9783031080999
Edition number: 1st ed. 2023
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