Economic Wonder of East Asia Analysed
Abstract
East Asian economic miracle based on the above three characteristics, namely the East Asian economies since the Industrial Revolution is the highest rate of growth, the success of non-standard growth conditions, structure, and beyond the initial conditions of the regional economic development. The reason is that the East Asian miracle countries and regions use the system organization and economic policy development in the formation of an effective mechanism to overcome the initial conditions of unfavorable factors. Experience of East Asian economic development is most noteworthy is the role of government and the market to properly determine their range, to maintain a system of innovation and growth evolution of the consistency and the right policy direction and flexibility