This edited volume examines the flaws in the Washington Consensus. The missing link identified is the relationship between market and government. The East Asian Miracle showed that the market and government are complementary, particularly with regard to economic development. However, the nature of this relationship has not been fully clarified. This book assesses development strategies and policy issues in the context of individual and/or regional economy's history and political-economic reality. The relationship may be conditional to these two factors. With these perceptions in mind, the book focuses on the role and significance of government in economic development in pursuit for new development strategies.

Assesses development strategies and policy issues

List of Tables List of Figures Notes on the Contributors Preface New Development Strategies: Beyond the Washington Consensus; A.Kohsaka PART I: MARKETS, GOVERNMENTS AND INSTITUTIONS Development Strategies for the Twenty-First Century; D.Rodrik Re-examination of Development Policies and Strategies: Some Political Economy Lessons; J.B.Nugent National Economies under Globalization: A Quest for New Development Strategies; A.Kohsaka PART II: DEVELOPMENT STRATEGIES UNDER GLOBALIZATION Globalization and Development: A Re-examination of Development Policy; K.Basu New Development Strategies under Globalization: Foreign Direct Investment and International Commercial Policy in Southeast Asia; F.Kimura Development Strategy and the Roles of Government Policies: Reconsidering the East Asian Experience; K.Ohno PART III: POLICY REFORMS AND THE ASIAN FINANCIAL CRISIS Political and Institutional Lessons from the Asian Financial Crisis; S.Haggard Re-examination of Korea's Economic Adjustment Policies: Based on the Korean Experience after the 1997 Crisis, Y.J.Cho Regulator's Dilemma: Hedge Funds in the New International Financial Architecture; B.Eichengreen PART IV: TRANSITION TO A MARKET ECONOMY Market Creation in Transition Economies: Reconstruction of Production Linkages in Kazakhstan; K.Nishikimi Strategic Choices for China and Vietnam in the Twenty-First Century; D.H.Perkins Index