Is there an Asian Model of Economic Development?
Policymakers, as well as academics, argue about the role of public laws in developing economies since the beginning of the study of economic development at the close of the Second World War.
Subsequently, East Asia has experienced sustained growth as well as a high record economic growth. Moreover, in East Asia, the economies grew rapidly as compared to other regions in the year 1965-1990.
In contrary, economists attribute this growth in eight performing Asian economies in Japan (HPAEs), Four Tigers in Hong Kong, Singapore, Republic of Korea as well as Taiwan. Also, the growth was attributed in the three industrializing economies (NIEs) of Thailand, Malaysia, Indonesia as well as South-East Asia.
More so, the East Asia economies provide a broad range of framework s such as policy regimes of Japan and Korea and Laissez Fair in Hong Kong as discussed by (Johnson, 5-9).
