SAVINGS, INVESTMENT AND THE CORPORATION IN THE EAST-ASIAN MIRACLE

Most economists will accept that high rates of accumulation have been a key factor in East Asian economic success. This contribution explore s specifically the reasons for extremely high rates of corporate savin gs and investments achieved by these economies; It focuses on the priv ate corporation, the relationship between the corporation and the gove rnment and that between the corporation and the financial system. It a nalyses the nature of the investments-profits-savings nexus in Japan a nd Korea and indicates its contribution towards resolving the main mac roeconomic constraints on economic growth.