The four Pacific Basin countries of Taiwan, South Korea, Hong Kong, and Singapore, have each defied the vicious circle of poverty in the post-war years, emerging as dynamic and rapidly growing economies. This book provides a comprehensive analysis of the economic factors that led to the `miracle'. The authors combine a wide-ranging empirical body of data with a broad theoretical approach to its analysis. They reach conclusions that can serve as a guide to likely future developments. The book makes an original contribution by describing international trade data that relates to the evaluation of the extraordinary success of these four countries.

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