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Lessons from East Asia and the Pacific Rim


THERE HAS BEEN SO much research on the East Asian miracle during the past decade that it is hard to imagine that anything more remains to be discovered—except for the ever-elusive elixir of growth. Despite that, we need to keep studying these extraordinary experiences, and the three excellent symposium papers in this volume provide much enlightenment and food for thought. I start by discussing a few points that come up in the papers, and then turn, first, to other research on East Asia, and second, to related experiences in Asia and the Pacific Rim.

Stanley Fischer

Vice Chairman of the Board of Governors of the Federal Reserve System

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