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The role of trade in the economic development of Eastern Asia

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  1. Introduction.
  2. Export growth and economy.
  3. Trade policies, industrialisation and development.
  4. Trade and human development.
  5. Conclusion.
  6. References.

At the end of the last century, Hong Kong, Singapore, Taiwan and South Korea attained higher rates of economic growth than other developing countries. It could be because of a close correlation between export expansion and economic growth, but are they automatically associated? What is the importance played by trade in the economic development of these countries? Classical view says that the growth of trade brings an economic growth, but maybe there is not relevant link between trade and growth. In this paper we will critically assess the role of the trade expansion in the economic growth and development. In a first part we will criticize the linkage between export growth and economy, after we will assess the trade policies on industrialization and development. The third and last part will evaluate the impact of trade on other indicators of development such as the ones which compose the Human Development Indicator.

[...] Trade and Human Development Now we can say that instead of looking at exclusively the linkage of trade and GDP, we can observe some other elements that are part of the development such as poverty, education, purchasing power or health which are without a doubt important in the economic development of countries. If we look at Figure we can see that Hong Kong, South Korea and Singapore have all of three the highest rate of HDI of Asian countries. We can even add that the HDI of Hong Kong was quasi similar of the United States one for the same period. [...]

[...] & Bosworth B.P. Economic Growth in East Asia: Accumulation versus Assimilation. Extract from: Brookings Papers on Economic Activity Issue 2. pp.135 to 203. Lee C.H. & Naya S.Trade in East Asian Development with Comparative Reference to Southeast Asian Experiences Extract from: Economic Development & Cultural Change, The University of Chicago. Volume 36 Issue 3. pp 123 [...]

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