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The Economic Development of Southeast Asia

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The Economic Development of Southeast Asia

9781858988009 Edward Elgar Publishing
Edited by Hal Hill, H.W. Arndt Professor of Southeast Asian Economies, Australian National University
Publication Date: 2002 ISBN: 978 1 85898 800 9 Extent: 2,632 pp
This group of economies is of interest for a number of reasons. Firstly, they feature great diversity – Singapore has one of the highest per capita incomes in the world, while several of the mainland Southeast Asian states are among the poorest. Brunei is a tiny oil sultanate, while Indonesia is the world’s fourth largest nation. In addition, several of these economies have been consistently among the world’s most open, while others are emerging from a long period of international commercial isolation. Thirdly, the group includes one sizeable country, the Philippines, which for reasons still only poorly understood has consistently under-performed compared to its potential. Four of the economies – Indonesia, Malaysia, Singapore, Thailand – grew extremely quickly in the three decades through to the recent Asian economic crisis. Lastly, the Asian economic crisis of 1997–98 particularly affected three of the countries – Indonesia, Malaysia, and Thailand. The factors explaining this sudden, and largely unanticipated, event are still only poorly understood.

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Critical Acclaim
Contributors
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This major four-volume collection brings together the key analytical contributions on the economies of Southeast Asia, countries which together have a population of more than 500 million people.

This group of economies is of interest for a number of reasons. Firstly, they feature great diversity – Singapore has one of the highest per capita incomes in the world, while several of the mainland Southeast Asian states are among the poorest. Brunei is a tiny oil sultanate, while Indonesia is the world’s fourth largest nation. In addition, several of these economies have been consistently among the world’s most open, while others are emerging from a long period of international commercial isolation. Thirdly, the group includes one sizeable country, the Philippines, which for reasons still only poorly understood has consistently under-performed compared to its potential. Four of the economies – Indonesia, Malaysia, Singapore, Thailand – grew extremely quickly in the three decades through to the recent Asian economic crisis. Lastly, the Asian economic crisis of 1997–98 particularly affected three of the countries – Indonesia, Malaysia, and Thailand. The factors explaining this sudden, and largely unanticipated, event are still only poorly understood.

This comprehensive reference collection is essential reading for all those interested in the economic performance of these economies.
Critical Acclaim
‘Professor Hal Hill has done us all an invaluable service by assembling the best literature on contemporary Southeast Asian economic development. These four volumes provide a comprehensive, detailed description and analysis of essential themes and topics. This is an essential reference source for every library and scholar specializing in Southeast Asia.’
– Hugh T. Patrick, Columbia University, US
Contributors
86 articles, dating from 1967 to 2000
Contributors include: P. Athukorala, R.M. Bautista, A. Booth, D.C.E. Chew, W.M. Corden, C. Manning, R.H. McLeod, S. Radelet, A. Siamwalla, P. Warr
Contents
Contents:
Volume I
Acknowledgements
Introduction Hal Hill
PART I INTRODUCTION
A Historical Backdrop
1. H. Myint (1967), ‘The Inward and Outward Looking Countries of Southeast Asia’
2. Anne Booth (1991), ‘The Economic Development of Southeast Asia: 1870–1985’
B Country Overviews
3. Romeo M. Bautista and Mario B. Lamberte (1996), ‘The Philippines: Economic Developments and Prospects’
4. Hal Hill (1994), ‘The Economy’
5. W.G. Huff (1999), ‘Singapore’s Economic Development: Four Lessons and Some Doubts’
6. Robert E.B. Lucas and Donald Verry (1999), ‘National Economic Trends’
7. James Riedel and Bruce Comer (1997), ‘Transition to a Market Economy in Viet Nam’
8. Peter G. Warr (1993), ‘The Thai Economy’
PART II MACROECONOMICS AND THE INTERNATIONAL ECONOMY
A Outcomes and Policy Instruments
9. W. Max Corden (1996), ‘Pragmatic Orthodoxy: Macroeconomic Policies in Seven East Asian Economies’
10. Ross H. McLeod (1997), ‘Explaining Chronic Inflation in Indonesia’
B Exchange Rate Policy
11. Ross Garnaut (1999), ‘Exchange Rates in the East Asian Crisis’
12. Stephen Grenville and David Gruen (1999), ‘Capital Flows and Exchange Rates’
C International Financial Markets
13. Gordon de Brouwer (1999), ‘Capital Flows to East Asia: The Facts’
14. David C. Cole and Betty F. Slade (1999), ‘The Crisis and Financial Sector Reform’
D Fiscal Policy
15. Mukul G. Asher, Ismail Muhd Salleh and Datuk Kamal Salih (1994), ‘Tax Reform in Malaysia: Trends and Options’
16. Malcolm Gillis (1994), ‘Indonesian Tax Reform, 1985–1990’
E Domestic Saving and External Debt
17. Eli M. Remolona, Mahar Mangahas and Filologo Pante, Jr. (1986), ‘Foreign Debt, Balance of Payments, and the Economic Crisis of the Philippines in 1983–84’
18. Steven Radelet (1995) ‘Indonesian Foreign Debt: Headed for a Crisis or Financing Sustainable Growth?’
19. Ross H. McLeod (1996), ‘Indonesian Foreign Debt: A Comment’ and Steven Radelet (1996), ‘Indonesian Foreign Debt: A Reply’
20. Frank Harrigan (1998), ‘Asian Saving: Theory, Evidence, and Policy’
F ASEAN Economic Cooperation
21. Chia Siow Yue (1996), ‘The Deepening and Widening of ASEAN’
Name Index

Volume II
Acknowledgements
An Introduction by the editor to all four volumes appears in Volume I
PART III EXPLANATIONS
A Growth
1. Helen Hughes (1995), ‘Why Have East Asian Countries Led Economic Development?’
2. Asian Development Bank (1997), excerpt from ‘Economic Growth and Transformation’
B The Crisis
3. Prema-chandra Athukorala (2000), ‘Capital Account Regimes, Crisis, and Adjustment in Malaysia’
4. Hal Hill (2000), ‘Indonesia: The Strange and Sudden Death of a Tiger Economy’
5. Joseph Y. Lim (1998), ‘The Philippines and the East Asian Economic Turmoil’
6. Steven Radelet and Jeffrey D. Sachs (1998), ‘The East Asian Financial Crisis: Diagnosis, Remedies, Prospects’
7. Peter G. Warr (1999), ‘What Happened to Thailand?’
PART IV SOCIAL AND DISTRIBUTIONAL ISSUES
A Poverty and Inequality
8. Arsenio M. Balisacan (1995), ‘Anatomy of Poverty During Adjustment: The Case of the Philippines’
9. Anne Booth (2000), ‘The Impact of the Indonesian Crisis on Welfare: What Do We Know Two Years On?’
10. Medhi Krongkaew (1994), ‘Income Distribution in East Asian Developing Countries: An Update’
11. Martin Ravallion and Monika Huppi (1991), ‘Measuring Changes in Poverty: A Methodological Case Study of Indonesia During an Adjustment Period’
B Labour Markets and Human Resources
12. Prema-chandra Athukorala and Jayant Menon (1999) ‘Outward Orientation and Economic Development in Malaysia’
13. Anne Booth (1999), ‘Education and Economic Development in Southeast Asia: Myths and Realities’
14. Sirilaksana Khoman (1995), ‘Thailand’s Industrialization: Implications for Health, Education, and Science and Technology’
15. Chris Manning (1994), ‘What Has Happened to Wages in the New Order?’
16. Chris Manning (1999), ‘Labour Markets in the ASEAN-4 and the NIEs’
C Demographics
17. Gavin W. Jones (1999), ‘The Population of South-East Asia’
D Environmental Issues
18. Harold Brookfield (1993), ‘The Dimensions of Environmental Change and Management in the South-East Asian Region’
19. Ian Coxhead (2000), ‘Consequences of a Food Security Strategy for Economic Welfare, Income Distribution and Land Degradation: The Philippine Case’
20. Thomas P. Tomich, Meine van Noordwijk, Stephen A. Vosti and Julie Witcover (1998), ‘Agricultural Development with Rainforest Conservation: Methods for Seeking Best Bet Alternatives to Slash-and-burn, with Applications to Brazil and Indonesia’
21. Jeffrey R. Vincent and Rozali Mohamed Ali with Chang Yii Tan, Jahara Yahaya, Khalid Abdul Rahim, Lim Teck Ghee, Anke Sofia Meyer, Mohd. Shahwahid Haji Othman and G. Sivalingam, (1997), ‘Conclusions’
E Regional Development
22. Hal Hill (1997), ‘Regional Development in Southeast Asia: The Challenges of Subnational Diversity’
23. M. Govinda Rao (2000), ‘Fiscal Decentralization in Vietnam: Emerging Issues’
Name Index

Volume III
Acknowledgements
An Introduction by the editor to all four volumes appears in Volume I
PART V PUBLIC POLICY, INSTITUTIONS AND OWNERSHIP
A Overviews
1. Stephan M. Haggard (1998), ‘Business, Politics and Policy in East and Southeast Asia’
2. J.A.C. Mackie (1988), ‘Economic Growth in the ASEAN Region: The Political Underpinnings’
3. Andrew MacIntyre (1999), ‘Political Institutions and the Economic Crisis in Thailand and Indonesia’
4. Jon S.T. Quah (1998), ‘Singapore’s Model of Development: Is It Transferable?’
B Case Studies of Intervention and Reform
5. Ammar Siamwalla (1999), ‘Can A Developing Democracy Manage Its Macroeconomy? The Case of Thailand’
6. Richard R. Barrichello and Frank R. Flatters (1991), ‘Trade Policy Reform in Indonesia’
7. David C.E. Chew (1993), ‘Civil Service Pay in the Asian-Pacific Region’
8. George Fane and Timothy Condon (1996), ‘Trade Reform in Indonesia, 1987–95’
9. David K. Linnan (1999), ‘Insolvency Reform and the Indonesian Financial Crisis’
10. Gerardo Sicat (1985), ‘A Historical and Current Perspective of Philippine Economic Problems’
11. M. Hadi Soesastro (1989), ‘The Political Economy of Deregulation in Indonesia’
C Ownership and Business Structures
12. Kelly Bird (1999), ‘Concentration in Indonesian Manufacturing, 1975–93’
13. Stijn Claessens, Simeon Djankov and Larry H.P. Lang (2000), ‘The Separation of Ownership and Control in East Asian Corporations’
14. Edmund Terence Gomez and Jomo K.S. (1999), ‘Privatising State Assets’
15. Hal Hill and Prema-chandra Athukorala (1998), ‘Foreign Investment in East Asia: A Survey’
16. Linda Y.C. Lim (1996), ‘The Evolution of Southeast Asian Business Systems’
17. Jamie Mackie (1992), ‘Changing Patterns of Chinese Big Business in Southeast Asia’
18. Ng Chee Yuen and Toh Kin Woon (1992), ‘Privatization in the Asian-Pacific Region’
19. Eric D. Ramstetter (1999), ‘Comparisons of Foreign Multinationals and Local Firms in Asian Manufacturing Over Time’
20. Yuri Sato (1993), ‘The Salim Group in Indonesia: The Development and Behavior of the Largest Conglomerate in Southeast Asia’
21. Yoshihara Kunio (1988), ‘Rent-seekers and Speculators’
Name Index

Volume IV
Acknowledgements
An Introduction by the editor to all four volumes appears in Volume I
PART VI SECTORS
A Agriculture
1. Ponciano Intal, Jr. and John H. Power (1991), ‘The Philippines’
2. Ammar Siamwalla, Suthad Setboonsarng, and Direk Patamasiriwat (1993), ‘Agriculture’
3. Steven R. Tabor (1992), ‘Agriculture in Transition’
4. Colin Barlow (1997), ‘Growth, Structural Change and Plantation Tree Crops: The Case of Rubber’
5. Romeo M. Bautista (1993), ‘Trade and Agricultural Development in the 1980s and the Challenges for the 1990s: Asia’
6. Takamasa Akiyama and Akihiko Nishio (1997), ‘Sulawesi’s Cocoa Boom: Lessons of Smallholder Dynamism and a Hands-off Policy’
7. C. Peter Timmer (1993), ‘Rural Bias in the East and South-east Asian Rice Economy: Indonesia in Comparative Perspective’
B Services: Finance
8. H.W. Arndt (1989), ‘Trade in Services with Special Reference to ASEAN’
9. Maxwell J. Fry (1995), ‘Financial Development in Asia: Some Analytical Issues’
10. Ross H. McLeod (1999), ‘Control and Competition: Banking Deregulation and Re-regulation in Indonesia’
11. Rob Vos and Josef T. Yap (1996), ‘Financial Intermediation and Adjustment of Internal and External Balances’
C Industry
12. Hal Hill (1999), ‘Industrialisation in ASEAN: Some Analytical and Policy Lessons’
13. Erlinda M. Medalla, Gwendolyn R. Tecson, Romeo M. Bautista and John H. Power (1995), ‘Efficiency, Competitiveness and Structure of the Philippine Manufacturing Industries’
14. Suphat Suphachalasai (1995), ‘Export-led Industrialization’
15. Albert Berry and Dipak Mazumdar (1991), ‘Small-scale Industry in the Asian-Pacific Region’
16. Henry Sandee, Roos Kities Andadari and Sri Sulandjari (2000), ‘Small Firm Development During Good Times and Bad: The Jepara Furniture Industry’
17. Hal Hill (1996), ‘Indonesia’s Industrial Policy and Performance: "Orthodoxy" Vindicated’
18. Sanjaya Lall (1995), ‘Malaysia: Industrial Success and the Role of the Government’
19. Peter G. Warr (1989), ‘Export Processing Zones: The Economics of Enclave Manufacturing’
20. Edward K.Y. Chen (1997), ‘The Total Factor Productivity Debate: Determinants of Economic Growth in East Asia’
21. Mike Hobday (1994), ‘Technological Learning in Singapore: A Test Case of Leapfrogging’
Name Index
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