Frauke Kraas, Bonn

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<b>
Determinants of the Latest Economic Development in Southeast
        Asia - Critical Remarks Pertainig to the Asian Miracle and the &#132;Asian
        Crisis&#147;
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Pages 139 - 154


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In this article influencing factors, characteristics and
        the background of the economic boom period and the severe financial and
        economic crisis (since mid-1997) in East and Southeast Asia are discussed.
        Various national development profiles can be observed - for instance traditional,
        cultural and societal factors strongly influence the economic process.
        Elements of the economic boom in market economies were: restructuring
        processes in the international division of labour , comparative cost advantages,
        foreign direct investment, growing intraregional trade, supportive resources,
        large unskilled and semi-skilled work forces, conservative economic management,
        forced infrastructure development and positive social advantages. In the
        socialist planned economies transformation processes have taken place
        since 1991. Characteristics and sources of the crisis are: high debts,
        unprooved credits, high risk behaviour, problematic networks, prestigous
        megaprojects and megalomania, strong hierarchies and problematic steering
        mechanisms, centre oriented instead of regional based development policies,
        international competition and conflicts concerning the leading role in
        ASEAN. Important measures for economic recovery lie especially in far-reaching
        structural reforms and early warning systems.


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