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Full Description
Recent economic history poses a challenge to conventional government-versus-market paradigms, for, while there has been spreading disillusionment with the ability of government to replace voluntary exchange, it has also become clear that many modern market successes were stimulated and accelerated by government actions. This book explores the nature and possibilities of "pro-market intervention", especially as it promotes economic development. Its emphasis is upon learning from East Asian success stories just what role government can play in creating or fostering institutions to promote market growth.
Contents
Part 1 Pro-market planning: theory - government facilitation of a planning conglomerate, Ashok Kotwal; Japanese economics - the theory and practice of investment co-ordination, Keizo Nagatani; the government of financial system in the economic development of Korea, Chung Lee; industrial and agricultural investment co-ordination under "plan" and "market" in China, Louis Putterman; decentralization. Part 2 Guiding financial deepening - the evolution of capital market: banks versus markets as mechanisms for allocating and co-ordinating investment, Joseph Stiglitz; institutional arrangements to facilitate international financial co-operation, Brian Wright. Part 3 Promoting technological progress: intellectual property rights for appropriate invention, Robert Evenson; the political economy of intellectual property rights, Sumner La-Croix. Part 4 Facilitating development: the role of financial institutions in industrial restructuring and investment co-ordination, Ira Lieberman; the economics of co-operation - Hawaiian style, James Roumasset.
