ERI FEB RAS

Izotov D.A., Kucheryavenko V.E. - Economic Development of Newly Industrialized Countries in Asia

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Izotov D.A., Kucheryavenko V.E.

Economic Development of Newly Industrialized Countries in Asia: from Crisis to Crisis / D.A. Izotov, V.E. Kucheryavenko ; ed. by V.V. Kuchuk ; Rus. Acad. Sci., Far East. Branch, Econ. Research Inst. - Khabarovsk : Publ. house «ARNO», 2009. - 124 p.

The economic development processes of newly industrialized countries (NICs) in East Asia during 1998-2008 are reviewed. The trends in the macroeconomic policy, investment and foreign trade regulation are studied. Specific features of the economic mechanisms of each of the NICs, as well as general trends, prospects and problems of further development are revealed. Particular consideration is given to the negative impact of the global economic crisis that began in the fourth quarter of 2008.

The volume is intended for researchers, graduate students, specialists of public administration, university students of economics.

Key words: newly industrialized countries, globalization, economic growth, foreign trade, investment, crisis, foreign markets, the Republic of Korea, Taiwan, Hong Kong (Siangan), Singapore.


CONTENTS

Introduction

9

Chapter 1. POST-CRISIS RECOVERY AND GROWTH OF NEWLY INDUSTRIALIZED COUNTRIES DURING 1998-2008

13

1.1.   General economic indicators

13

1.2.   Labor market

16

1.3.   Inflation rate

18

1.4.   Economic structure

19

1.5.   Investment

27

1.6.   Gold and foreign exchange reserves

30

1.7.   Long-term prospects of economic development

31

Chapter 2. GLOBALIZATION OF NEWLY INDUSTRIALIZED ECONOMIES DURING 1998-2008

37

2.1.   Foreign trade dynamics

37

2.2.   Foreign investment

64

Chapter 3. MANIFESTATIONS OF THE WORLD ECONOMIC CRISIS IN NEWLY INDUSTRIALIZED COUNTRIES

77

Conclusion

90

Appendix 1. Social indicators of Hong Kong SAR, China

92

Appendix 2. Social indicators of Singapore

98

Appendix 3. Social indicators of Taiwan

104

Appendix 4. Social indicators of the Republic of Korea

111

References

118

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