The Rise, the Fall, and the Recovery of Southeast Asia's Minidragons
offers a comprehensive study of recent Asian economic history. As the global economy adjusts to an increasing Asian presence, David Hollingsworth examines specific case models from the 1990s to draw conclusions, create paradigms, and prepare guidelines for the future. With studies ranging from Taiwan to Malaysia and an in-depth analysis of the Asian Financial Crisis of 1997-1998, this is one of the most in-depth studies of contemporary Asian economic history. With clear focus and a wide range, Hollingsworth shows the relevance of recent history to the current economic situations.Contract principle is essentially the driving force that propelled East Asia to engage in a series of policies that were responsible for its economic growth and sustainability since the late 1950s. The book discusses such growth and examines the economic history of this period. It examines the move from Import-Substitution-Industrialization to Export-Orientation and the forces leading to the subsequent Asian Financial Crisis of 1997-1998. The book applies a structural investigation to case studies of: Taiwan, Singapore, Thailand, Indonesia, and Malaysia. It concludes by shaping the historical lessons into a vision for the future.