Asian growth, like that of the Soviet Union in its high-growth era, seems to be driven by extraordinary growth in inputs like labor and capital rather than by gains in efficiency. When newspaper compositors were sporting heroes. And until the mess in East Asian banking systems has been cleaned up, new lending will be severely curbed, so in many of these economies GDP growth may remain weak until at the earliest. The industrial revolution in Japan first appeared in textiles, including cotton and especially silk, which was based in home workshops in rural areas. Because of these unanswered and perhaps unanswerable questions, the results of studies that emphasize the contribution to growth of capital and labor and depreciate that of technology should not East Asian Economies regarded as definitive. Which of the following East-Asian countries operates a socialist market economy? These examples are presented not to prove that government policies are unimportant, but to make the modest point that we still understand very little Porn Middle East the relationship between public policy and the extraordinary growth rates of the East Asian economies.
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