Pax-Americana-led Macro-Clustering and Flying-Geese-Style Catch-Up in East Asia: Mechanisms of Regionalized Endogenous Growth
نویسنده
چکیده
Rapid growth in East Asia (despite the 1997-98 crises) has been unique as it is clustered so intensively only in that particular region. The flying-geese model of industrial upgrading is applied to the emergence of Pax-Americanaled growth clustering. The high propensity of the U.S. to transplant manufacturing overseas, Japan’s roles of structural intermediator and capacity augmenter, and catching-up economies’ public policies are the key co-determinants of regionalized endogenous growth in East Asia.
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