Sustaining Export-Oriented Development

Ross Garnaut is the professorial research fellow in economics at the University of Melbourne. In 2008, he produced the Garnaut Climate Change Review for the Australian government. He is the author of many books, including the bestselling Dog Days, Superpower and Reset.

Sustaining Export-Oriented Development looks at the East Asian economies' postwar development and assesses the prospects and constraints to continuing at its current pace. The possibilities of transferring East Asian development elsewhere are also considered. While there is no single East Asian model, common elements are identified: an abundance of low-wage labour and free labour markets, an emphasis on health and education, trade liberalisation and export-oriented policies, financial market liberalisation (providing an environment conducive to private saving and investment), efficient capital utilisation and a focus on sound infrastructure. Written by leading economists, the book traces the changes in the thinking of policymakers and advisers about the policies required for economic development. In particular, it examines the shift in emphasis from import-substitution to outward orientation that has coincided with the East Asian economies' success.

List of figures; List of tables; List of contributors; Dedication to Helen Hughes by H. W. Arndt; Editorial preface; 1. The role of trade in growth and development: theory and lessons from experience Anne O. Kruger; 2. The East Asian growth model: how general is it? Enzo Grilli and James Riedel; 3. Interrelationships between economic ideas and policy in the international institutions Richard H. Snape; 4. Government's role in East Asia's economic success Chia Siow Yue; 5. Trade policy and the globalisation of production Isaiah Frank; 6. East Asia in the international system: Asia Pacific economic co-operation and the challenge of discriminatory trade Ross Garnaut and Peter Drysdale; 7. Exchange rate regimes and outward-looking growth E. S. Leung; 8. Has development assistance aided development? - The Australian case Nancy Viviani; 9. Demographics and markets - are there limits to export promotion strategies? Philippa Dee and Christopher Findlay; 10. Sustaining China's remarkable exports and growth performance Yongzheng Yang; 11. Commodity terms of trade and instability Ron Duncan; 12. Agricultural policy: constraints to development Kym Anderson; 13. Environmental constraints on development and international rules David Robertson; Bibliography; Index.