By Howard Stein
Drawing on case-studies from the industrialization of East and Southeast Asian countries, this article severely examines the structural adjustment rules utilized in Africa because the Eighties. The Asian state reports contain Singapore, Malaysia, Taiwan, South Korea, Hong Kong and Meiji Japan.
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Drawing on case-studies from the industrialization of East and Southeast Asian countries, this article severely examines the structural adjustment rules utilized in Africa because the Eighties. The Asian kingdom reports comprise Singapore, Malaysia, Taiwan, South Korea, Hong Kong and Meiji Japan.
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Extra resources for Asian Industrialization and Africa: Studies in Policy Alternatives to Structural Adjustment
Multinationals were tapped for these components. While maintaining an open economy, the state hardly took a laissez faire approach and constantly intervened with inducements to encourage international capital to move up the industrial ladder. For this purpose they used a series of incentives including joint ventures to 14 Policy Alternatives to Structural Adjustment in Africa lower risk, tax concessions, the provision of inexpensive infrastructure, heavily subsidized training and education and by providing a stable and friendly business climate.
In actuality, a number of liberalizing measures were undertaken prior to 1986, partly in preparation for the accord . For a detailed discussion of the period see Campbell and Stein, 1992. II. The importance of these variables are supported by empirical studies. For example, Chhibber (1989), examining data from India from 1954/55 to 1977/78, finds that the long run elasticity of supply with respect to nonprice variables is three times as high as the price elasticity. 12. In Tanzania the real minimum wage fell by 33 per cent from mid-1986 to the end of 1988.
Performance criteria need to focus not on meeting financial targets based on some hypothetical neo-classical balances but on the professionalism and autonomy of state institutions. As economic performance improves, the legitimacy of the autonomous state will grow, creating resistance to clientalism and patronage. In the rapidly changing world division of labor, opportunities will be created for Africa's industrial exports. With the appropriate institutional setting it will be possible to respond to those opportunities.