Since the first edition was published in 1998, there has been a worldwide innovation-led boom & subsequent slump. This new edition registers this change & offers an interesting test of the robustness of the original arguments.

First published in 1998. Routledge is an imprint of Taylor & Francis, an informa company.

Highlighting the importance of Asia’s small and medium enterprises (SMEs), this report shows how economies can learn from policies employed by the Republic of Korea (ROK) and the United States (US) to offer SMEs the credit they need to thrive. With SMEs making up some 96% of all Asian businesses, the report explains the challenges they commonly face and analyzes the impact of specialized financing facilities in the ROK and the US. It offers a study of public institutional approaches towards improving credit access, assesses international lending regulations, and explores how developing public lending schemes for SMEs can support growth.

As firms from East Asia gain global market share they are stirring trade disputes with import-competing firms in the West. Jessica Liao analyzes the role played by government-business collaboration in determining how effective East Asian governments are in helping their exporters gain an edge over western competitors through WTO litigation.

The International Economic Association was foremost in reviving professional economists' concern with institutions and their impact in publications such as Economic Institutions in a Dynamic Society (1989). This volume concentrates on the states whose development has been characterised as the 'East Asian miracle' in the light of the performance of other economies starting from similarly low income levels, including India, China, African states - especially Nigeria - and Latin American countries including Brazil. This comprehensive comparative survey in economic history demonstrates the external shocks and interacting domestic forces which constituted the growth dynamic. Nobel Laureates Kenneth Arrow and Douglass North and past President of the IEA the late Michael Bruno are among the thirty-four highly distinguished specialist contributors.