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(searched for: doi:10.2307/1236991)
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Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
What should be the right combination of community, market, and state? It depends not only on the stage of economic development but also on the cultural tradition. Under the different value systems in different societies, different combinations of the three organizations are chosen as the mechanisms to control resource allocations. Evolution of different economic systems under different cultural traditions is illustrated through comparisons between Western and Asian countries, especially Japan, in its modernization process. The book concludes with the argument that if developing economies today are to catch up with developed economies, they must develop effective economic systems each suitable to their unique cultural and social traditions.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
The community is considered the third pillar of the economic system in addition to the market and the state. The market is an organization coordinating competition among people seeking profits by impersonal means of prices, and the state intervenes in matters of resource allocations through the use of coercive power. In contrast, the community organizes collective actions based on mutual trust within a small group characterized by intensive interactions. The community's role in conserving and improving common-property resources is well known. In addition, its role in supporting market development by its power to enforce trade contracts among transacting parties belonging to the community network is emphasized. This role is especially important in the early development stage.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
The question of what kind of institutional set-up would be appropriate for promoting economic development is approached in terms of combination between market and state. The traditional debates on the choice of development strategy between free trade and infant industry protection is examined with reference to the historical experiences of developed economies as well as recent confrontations between import substitution industrialization and the IMF-World Bank structural adjustment policies. The nature and significance of market failures versus government failures are illustrated in terms of comparisons between the Latin American Debt Crisis in the 1880s and the Asian Financial Crisis in the 1990s. The choice of the market versus the state, as well as growth versus equity, is discussed in reference to the changing paradigms in the IMF-World Bank.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
Growing inequality and environmental degradation are two serious problems that developing economies will have to face in their economic growth processes geared for reducing absolute poverty. These problems are closely interrelated. For example, the importation of labour-saving industrial technologies from high-income countries tends to increase returns to capital relative to labour, thereby increasing the incomes of the property-owning rich relative to the poor owning no other productive means other than their own labour. Such technologies are adopted often without accompanying adequate investment in pollution control, resulting in horrible environmental pollution. Institutional innovations are needed to prevent income inequality and environmental degradation from rising, while sustaining the growth of developing economies.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
The institutional conditions by which appropriate technology and human resources are effectively combined with capital accumulation for promoting industrial development are examined in this chapter. Accumulation of intangible capital created by the government’s investment in scientific research and school education is critically important in the initial phrase of industrialization. Still it is a necessary but not the sufficient condition. Sustained industrial development requires the organization of competitive markets that facilitate innovations by Schumpeterian entrepreneurs.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
Reviews theoretical justifications and economic consequences of a development strategy adopted, commonly by newly independent developing countries in a few decades after the Second World War, which advocated maximizing capital accumulation in the industrial sector by means of government planning and command. The general failure of this strategy, which had become evident by the 1980s, produced a conviction that accumulated capital cannot be an effective basis for economic development unless it is combined with appropriate technology and manpower under appropriate institutions.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
The world has so far avoided dismal predictions by Malthus and Ricardo on the inexorable consequences of population growth with the application of science to the development of technology geared towards maximizing the intensity of land use for agricultural production. The mechanism by which this 'science-based agriculture' has been transferred from developed to developing economies and how this process can further be strengthened are investigated.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
The causes of 'population explosion' in developing economies today are identified in the light of demographic histories in both developed and developing economies in order to make future predictions. Further, the development theories of classical economists such as Malthus and Ricardo to modern theorists, who tried to incorporate population as an endogenous variable in the economic system, are examined.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
Aims to develop a bird's eye view on current status and growth potential of developing economies by means of highly condensed international comparative statistics in order to postulate broad hypotheses for the analyses in the subsequent chapters. The data suggest that wide differences in economic growth performance among developing countries are due little to differences in natural resource endowments, but may instead be explained by investment in both physical and human capital. Such broadly defined capital formation depends not so much on the level of per capita income as it does on institutions and policies.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
As a basic framework of this book, development of the social system is considered a process of interactions between the economic subsystem and the cultural-institutional subsystem. The former consists of activities combining economic resources (labour, capital, and natural resources) through technology to produce goods and services useful for human living. These economic activities are coordinated and controlled by the latter, which consists of institutions (the rules of society) and culture (people's value system). A model is developed to conceptualize how technological and institutional changes interact with each other, how they respond to changes in resource endowments, and how such responses are governed by cultural traditions.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
The main issues of the book are discussed. The main focus is the development of low-income economies towards catching up with high-income economies, which includes discussion on the major cultural and social changes involved, the choice of economic system – discussing the optimum combination of market, state and community and issues such as the role of technology borrowing as a major means for low-income economies to catch up with advanced ones and identifying the possible means to facilitate this process. While special focus is placed on low-income economies, ‘developing economies’ at various stages of development are covered in broad terms.
Yujiro Hayami, Yoshihisa Godo
Published: 3 February 2005
Abstract:
This book provides a comprehensive, coherent, and optimistic overview on development economics, with an emphasis on East Asia. It is a fully revised and updated third edition, building on the strengths of the previous editions and providing up to date analyses of several recent changes and newly emerged problems relevant to the global economy. These include coverage of crises in Latin America; the recovery of East Asia from the 1997-98 financial crisis; the development of the 'Post-Washington Consensus' and the Millennium Development Goals; and the stalemate around the Kyoto Protocol.
Yujiro Hayami
Published: 15 February 2001
Abstract:
What should be the right combination of community, market, and state? It depends not only on the stage of economic development but also on the cultural tradition. Under the different value systems in different societies, different combinations of the three organizations are chosen as the mechanisms to control resource allocations. Evolution of different economic systems under different cultural traditions is illustrated through comparisons between Western and Asian countries, especially Japan, in its modernization process. The book concludes with the argument that if developing economies today are to catch up with developed economies, they must develop effective economic systems each suitable to their unique cultural and social traditions.
Yujiro Hayami
Published: 15 February 2001
Abstract:
The community is considered the third pillar of the economic system in addition to the market and the state. The market is an organization coordinating competition among people seeking profits by impersonal means of prices, and the state intervenes in matters of resource allocations through the use of coercive power. In contrast, the community organizes collective actions based on mutual trust within a small group characterized by intensive interactions. The community's role in conserving and improving common‐property resources is well known. In addition, its role in supporting market development by its power to enforce trade contracts among transacting parties belonging to the community network is emphasized. This role is especially important in the early development stage.
Yujiro Hayami
Published: 15 February 2001
Abstract:
The question of what kind of institutional set‐up would be appropriate for promoting economic development is approached in terms of combination between market and state. The traditional debates on the choice of development strategy between free trade and infant industry protection is examined with reference to the historical experiences of developed economies as well as recent confrontations between import substitution industrialization and the IMF–World Bank structural adjustment policies. The nature and significance of market failures versus government failures are illustrated in terms of comparisons between the Latin American Debt Crisis in the 1880s and the Asian Financial Crisis in the 1990s.
Yujiro Hayami
Published: 15 February 2001
Abstract:
Growing inequality and environmental degradation are two serious problems that developing economies will have to face in their economic growth processes. These two problems are closely interrelated. For example, the importation of labour‐saving industrial technologies from high‐income countries tends to increase returns to capital relative to labour. Such technologies are adopted often without accompanying adequate investment in pollution control, resulting in horrible environmental pollution. Institutional innovations are needed to prevent income inequality and environmental degradation from rising, while sustaining the growth of developing economies.
Yujiro Hayami
Published: 15 February 2001
Abstract:
The institutional conditions by which appropriate technology and human resources are effectively combined with capital accumulation for promoting industrial development are examined in this chapter. A conclusion is that government investment in scientific research and education is a necessary but not the sufficient condition. Sustained industrial development requires the organization of competitive markets that facilitate innovations by Schumpeterian entrepreneurs.
Yujiro Hayami
Published: 15 February 2001
Abstract:
Reviews theoretical justifications and economic consequences of a development strategy adopted, commonly by newly independent developing countries in a few decades after the Second World War, that advocated maximizing capital accumulation in the industrial sector by means of government planning and command. The general failure of this strategy, which had become evident by the 1980s, produced a conviction that accumulated capital cannot be an effective basis for economic development unless it is combined with appropriate technology and manpower under appropriate institutions.
Yujiro Hayami
Published: 15 February 2001
Abstract:
The world has so far avoided dismal predictions by Malthus and Ricardo on the inexorable consequences of population growth with the application of science to the development of technology geared towards maximizing the intensity of land use for agricultural production. The mechanism by which this ‘science‐based agriculture’ has been transferred from developed to developing economies and how this process can further be strengthened are investigated.
Yujiro Hayami
Published: 15 February 2001
Abstract:
The causes of ‘population explosion’ in developing economies today are identified in the light of demographic histories in both developed and developing economies in order to make future predictions. Further, the development theories of classical economists such as Malthus and Ricardo to modern theorists, who tried to incorporate population as an endogenous variable in the economic system, are examined.
Yujiro Hayami
Published: 15 February 2001
Abstract:
Aims to develop a bird's eye view on current status and growth potential of developing economies by means of highly condensed international comparative statistics in order to postulate broad hypotheses for the analyses in the subsequent chapters. The data suggest that wide differences in economic growth rates among developing countries are due little to differences in natural resource endowments, but may instead be explained by investment in both physical and human capital. Such broadly defined capital formation depends not so much on the level of per capita income as it does on institutions and policies.
Yujiro Hayami
Published: 15 February 2001
Abstract:
As a basic framework of this book, development of the social system is considered a process of interactions between the economic subsystem and the cultural–institutional subsystem, The former consists of activities combining economic resources (labour, capital, and natural resources) through technology to produce goods and services useful for human living. These economic activities are coordinated and controlled by the latter, which consists of institutions (the rules of society) and culture (people's value system). A model is developed to conceptualize how technological and institutional changes interact with each other, how they respond to changes in resource endowments, and how such responses are governed by cultural traditions.
Yujiro Hayami
Published: 15 February 2001
Abstract:
Provides a comprehensive, systematic treatise on development economics, combining classical political economy, modern institutional theory, and current development issues. It addresses one basic question: Why has a small set of countries achieved a high level of affluence while the majority remains poor and stagnant? The treatment is global, although the organizational principle is the East Asian development experience. Quantitative characteristics of Third World development in terms of population growth, natural resource depletion, capital accumulation, and technological change are outlined; but the central approach is comparative institutional analysis aimed at identifying the institutional constraints on the economic progress of low‐income economies and the ways to lift them.
Leslie Sklair
Published: 1 April 1979
The Journal of Peasant Studies, Volume 6, pp 311-341; https://doi.org/10.1080/03066157908438077

Abstract:
The structure, pace and uneven progress of the collectivisation of Chinese agriculture can be explained in terms of contradictions that persisited between relations of production and productive forces in the countryside and the ways in which these contradictions could be confronted through the application of the principle of the mass line. The formation and subsequent re‐organisation of the Rural People's Communes is interpreted as a necessary response to the fact that collectivisation was not predicated on prior modernisation of agriculture, but rather that Chinese political economy predicated the modernisation of agriculture on the success of the communes.
Pi-Chao Chen
Published: 1 January 1971
Journal: World Politics
World Politics, Volume 23, pp 245-272; https://doi.org/10.2307/2009678

Abstract:
Some economists argue that high population density and rapid population growth are not in themselves impediments to economic development. On the basis of a quantitative analysis of historical data, Simon Kuznets, for instance, concludes that, historically, rates of economic development have not significantly correlated, either positively or negatively, with rates of population growth. Similarly, E. E. Hagen observes that “nowhere in the world has population growth induced by rising income been sufficient to halt the rise in income. … The historical record indicates that rise in income in these societies has failed to occur not because something thwarted it, but because no force has been present to cause income to rise.
H. Bruce. Huff
Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Volume 17, pp 1-14; https://doi.org/10.1111/j.1744-7976.1969.tb02464.x

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