Mercado Dirigido, El

Why have not just Japan, but also Taiwan and South Korea, been so successful in economic development? This book rejects the claims both of those who see the East Asian story as a vindication of free market principles, and of those who say it all resulted from government intervention. What needs attention, the author maintains, is the way allocation decisions were divided between markets and public administration and the synergy between them. He focuses on Taiwan, with comparisons to Korea, Japan, and Hong Kong. "This new study by Robert Wade is one of only a handful that describes how economic policy in East Asia has actually worked.... A superb book.... Governing the Market demystifies East Asia's miracle without making it seem any less remarkable. It assaults idle prejudice on every side of the debate about markets and the role of government. It is long overdue, and deserves to be widely read".--The Economist "This valuable book provides a quite detailed and carefully analytical account of the economic development of Taiwan and its political and social setting.... [Wade] makes a good case for his view that while market forces, at home and abroad, have been given much play, the government has also played a key part".--Foreign Affairs