Chapter 18: Entrepreneurial Capitalism in East Asia: How History Matters
David Ahlstrom and Linda C. Wang INTRODUCTION The rise of East Asian economies from Japan to China and Southeast Asia has motivated much study of how these economies grew so quickly and inspired a model for economies in the developing world (Berger and Hsiao, 1988; Fallows, 1995; Johnson, 1982; Rowher, 1995; Vogel, 1979). This has encouraged further inquiry on specific East Asian business systems including what has come to be called Chinese entrepreneurial capitalism or more generally ‘Confucian capitalism’ (Baumol et al., 2007; Bond and Hofstede, 1990; Hamilton, 2006; Kotkin, 1992; Redding, 1990; Whitley, 1992).1 Confucian capitalism is thought by many to be a key mode of economic organization in East Asia not only because of its economic significance to local economies, but also because of its complex network organization and compatibility with the modern virtual organization (Ahlstrom et al., 2004; Chen, 2001; Redding, 1990; Whitley, 1992). Researchers have stressed the importance of Chinese culture, in general, and Confucianism, in particular, as a key explanation for this putatively unique business system in East Asia much in the way Max Weber’s (1951) ‘Protestant work ethic’ has been used to explain economic growth in the West (e.g. Kao, 1993; Redding, 1990; Seagrave, 1995; Weidenbaum and Hughes, 1996; Whitley, 1992). Indeed, the economies that have developed the most rapidly during the twentieth century are mainly Confucian-influenced East Asian ones, most notably those of Japan, South Korea, Hong Kong, Singapore, Taiwan, and Mainland China.2 Limited evidence asserts an association between (primarily Confucian) cultural...
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.