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Developmental state

| | 8-10-2018, 23:15


Developmental state, or hard state is a term that refers to the phenomenon of state-led macroeconomic planning in East Asia during the late 20th century. The concept of the developmental state emerged to explain the rapid growth of a number of countries in East Asia during the postwar period. In this model of capitalism, the state has more independent, or autonomous, political power, as well as more control over the economy. 

Arguing for the distinctive features of developmental states, its proponents emphasized the role of government intervention and industrial policy as well as the significance of strong states and particular social coalitions. The term has subsequently been used to describe countries outside East Asia which satisfy the criteria of a developmental state. 

Some of the best prospects for economic growth in the last few decades have been found in East and Southeast Asia. Japan, South Korea, China, Hong Kong, Singapore, India, Thailand, Taiwan, Vietnam, Malaysia, Philippines, and Indonesia are developing at high to moderate levels.