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MIRACLE OVERVIEW - Coggle Diagram
MIRACLE OVERVIEW
HPAE's performances
Rapid & sustained eco growth
Equitable income distribution
Others:
:Arrow_up: life expectancy
:arrow_down: population under absolute poverty
Reasons for success:
Basic:
Supported by:
:arrow_up_small: domestic saving
:muscle: agriculture + productivity
:+1: public administration
:+1: education from start (some ecos)
Major engines: :arrow_up: investment in physical & human capital
Sound fundamental policies
Macro-eco management
maintain stable macroeco conditions
:arrow_upper_right: private investment
Sound banking system
Accessible by the non-tradition savers
Effective education policy
Focusing on primary & secondary schools
:arrow_upper_right: human capital
Agricutural policy
No excessive tax on rural eco
Open to foreign trade, tech, ideas
Selective Gov intervention
Channels
Lower interest rate
Targeted (subsidized) credits
Foster specific industries
Protection from import
Export subsidy
Against market principle
level playing field, neutral incentives...
widely used in HPAEs (NEA)
At the center of controversy on EA eco
HPAE
High-Performing Asian Eco
Common thread of policies & characteristics