publication . Article . 1996

Macroeconomic Stabilization and Monetary Policyof Four Asian CountriesJapan, Korea, Indonesia, and the Philippines- Targets, Effectiveness and Results - (in Japanese)

Masaaki Kuroyanagi; Junji Yano; Yasuo Nakanishi; Masaaki Komatsu; Hidehiko Futamura; Tsuyoshi Mihira;
Open Access
  • Published: 01 Jan 1996 Journal: Economic Analysis, volume 145, issue March, pages 9-197
Abstract
The rapid, stable economic development of Asian countries has been an important topic of empirical study in recent years. The remarkable results of this steady economic development have been called a "miracle" in the recent literature of development economics. This cross-country study attempts to investigate the roots of the rapid, sustained economic growth of East Asian countries. In "The East Asian Miracle" (The World Bank, 1993), rapid growth of human capital, productivity improvement and high investment levels were pointed out as the primary factors contributing to the rapid economic growth of so called High Performing Asian Economies (HPAEs).1 On top of the...

Chapter 1. Macroeconomic and Financial Developments of Japan, Korea, Indonesia and the Philippines ...................................................................................................15

Chapter 2. On the Objectives of Monetary Policy.................................................................................44

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