After reiterating the recognized similarities of the four Asian newly industrializing economies (NIEs: Hong Kong, Singapore, South Korea and Taiwan), the paper examines the initial conditions of these economies, points out their differences and attempts to reinterpret the economic miracles of...

The development experience of Asia in the last three decades is characterized by countries pursuing widely divergent strategies and policies resulting in disparate growth performances. The resource-poor Asian newly industrializing economies (NIEs), namely, Hong Kong, South Korea, Singapore and...