Economic Reform in Asia

Economic Reform in Asia

China, India, and Japan

Sara Hsu

Economic Reform in Asia compares and analyzes the reform and development patterns of China, India, and Japan from both historical and developmental perspectives. Sara Hsu specifically focuses on China’s reform and opening-up in 1979, India’s accelerated liberalization in 1991, and the outset of the Meiji Restoration in Japan in 1878. This detailed overview of growth patterns in Asia’s largest economies is invaluable, especially in its determination to understand which development policies work, what role institutions play in development, and what issues may arise during said development.

Chapter 2: Development theory

Sara Hsu

Subjects: asian studies, asian development, asian economics, economics and finance, asian economics


Development theory seeks to help us understand how countries develop as they do, looking for patterns and explanations of the most essential components of the development process. Questions that economic theorists ask are: “Is this policy essential to the development process?”, “What do countries have in common in how they develop?”, “Why do some nations fail and some succeed economically?” Some understanding may be found by modeling the proposed answers to these questions and putting forth a theory. In this chapter, we first discuss economic modeling, then development theory. We discuss economic reform theory, and development theory as it applies to China, India, and Japan.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information