421. The External Sector, the State and Development in Eastern Europe
- Author:
- Barry Eichengreen and Richard Kohl
- Publication Date:
- 03-1998
- Content Type:
- Working Paper
- Institution:
- Berkeley Roundtable on the International Economy
- Abstract:
- Early optimists hoped that Eastern Europe might be able to emulate the high-performance economies of Asia once the shock of liberalization was absorbed. The ingredients of the East Asian “miracle,” in this view, were rapid accumulation based on high investment in physical and human capital, productivity growth based on technology transfer through licensing and direct foreign investment, rapidly expanding exports able to support industrial specialization and scale economies, and a strong state capable of guiding the development process and solving coordination problems. Emulating this recipe could provide the basis, it was hoped, for the expansion of exports and buoyant economic growth more generally.
- Topic:
- Development, Government, and International Trade and Finance
- Political Geography:
- Europe, Eastern Europe, and Asia