Economic Policies in the Pacific Area Developing Countries by Bela Balassa (auth.)

By Bela Balassa (auth.)

Aims to enhance our realizing of the standards selecting the commercial functionality of the Pacific zone constructing nations. The e-book offers with either the newly industrializing international locations and the newly exporting countries.

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Subsequently, the fighting stabilized around the present dividing line between the North and the South. But much of the South's territory was devastated at the time the war ended in July 1953, with material losses reportedly equalling Korea's annual GDP. Economic growth was slow in the 1953-60 period. Apart from reconstruction, the policies applied were oriented towards import substitution behind high protection, while exports were discouraged by overvalued exchange rates. At the same time, balance-ofpayments deficits were financed by large inflows of US military and economic aid.

9 percent in 1988. Large increases were shown for Korea as well as for Taiwan; data for Singapore in 1963 are again not available. 7 percent in 1988. 6 percent in 1988. 9 percent. 0 percent in 1988. 0 percent in 1988. 7). Within manufacturing, the principal categories are textiles, apparel and leather products, and engineering products. 7 percent in 1988, is very impressive. 7 percent in 1988, this sector continues to loom large in Hong Kong's exports. 7 percent in 1963. Within the textiles, apparel and leather products category, considerable shifts occurred over time.

6 percent. 8 percent. Economic growth was supported by a high rate of investment. 3). 0 * 1987 GOP at factor cost. Source: World Bank. 0 Private savings Government budget balance Domestic savings Foreign savings Domestic investment Source: World Bank. 3 36 Economic Policies in the Pacific Area Investment was largely financed by domestic savings, except that foreign savings assumed importance in the late 1970s and early 1980s, when investment activity was at its peak. Hong Kong experienced an outflow of capital in the mid-1970s as well as in recent years during external political uncertainty.

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