This piece synthesizes the development strategies of Korea, Malaysia, Thailand and Vietnam and draws some relevant lessons. Using a complex adaptive systems approach, strategic openness, a set of heterodox macroeconomic policies, creation of institutions for productive investment in both...

Haider A. Khan goes beyond the study of catch-up technology and raises the question of innovation processes that are the key to the future growth and prosperity of the East Asian economies. This is particularly important in the aftermath of the Asian financial crises that have cost these...