SOME LESSONS FROM THE EAST-ASIAN MIRACLE

The rapid economic growth of eight East Asian economies, often called the ''East Asian miracle,'' raises two questions: What policies and ot her factors contributed to that growth? And can other developing count ries replicate those policies to stimulate equally rapid growth? This article, based on case studies, econometric data, and economic theory, offers a list of the ingredients that contributed to that success. Bu t it is the combination of these ingredients, many of-which involve go vernment interventions acting together, that accounts for East Asia's success.