Industrial transformation of Asia arguably constitutes the most surprising and dramatic change in the global economy in the last fifty years. This paper provides an outline of some of the most important trends of this development and analyses selected national industrial policies that promoted...

This article analyses the complex interplay of various factors in the 'late marketisation' in China and Vietnam and the 'late industrialisation' in Korea, Taiwan and Japan. The article distinguishes the degree of 'comparative advantage-defying' and 'comparative advantage-following' strategies...