Prof. Dr. Sébastian LeChevalier (EHESS, Paris)
Which East Asian miracle for the 21st Century?
In 1993, the Word Bank published its famous report entitled „The East Asian Miracle“, in which it was analyzing the economic performances of East Asian economies and was formalizing a model that was looking more or less like the Japanese model.
Almost 30 years later, the Japanese model has experienced a long stagnation and other models have emerged in East Asia, especially in China and in Vietnam, while we observed an increasing diversity among economies such as South Korea, Taiwan, Singapore, Hong Kong, Malaysia, Indonesia, Thailand or Philippines.
In 2017, the Word Bank has published a new report, „Riding the wave“, in which it confirms the reality of the development in the region, introduces the idea of diversity, but also underlines some limitations, namely increasing inequalities. It thus suggest a shift from a model of accumulation of resources to a model of more inclusive growth.
In this presentation, we will discuss the transformation of the so-called East Asian model of development and analyze its increasing diversity.
Prof. Dr. Sébastian LeChevalier is an Economist and a Professor at EHESS (School of Advanced Studies in the Social Sciences, Paris), specialised in Japanese economy and Asian Capitalisms. He is also founder and president of the Fondation France-Japon de l’EHESS (FFJ). Trained as a labor economist, he has extensively published on various dimensions of the Japanese economy, in comparative perspective, including: The Great Transformation of Japanese Capitalism (Routledge, 2014).
Other research interests include innovation (Innovation beyond technology, Springer, 2019), industrial policies („Financialization and industrial policies in Japan and Korea: Evolving complementarities and loss of state capabilities“ in Structural Change and Economic Dynamics, 2019, Vol. 48), and inequalities & redistribution (“Why do Redistributive Policies Differ across Countries? Analyzing the Multiple Dimensions of Preferences for Redistribution”, The review of income and wealth, 2022).
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