East Asian economies of the 1980s and much of the 1990s were among the most competitive exporters of manufactured products and were also able to sustain growth rates far higher than those of other countries, developing or industrial. However, the economic crisis of 1997-98 impacted the economies of these countries. Although recovery began fairly quickly in some countries, others have yet to regain their growth momentum. 'Can East Asia Compete?' looks at whether or not East Asia can restore its near magical performance, or is its competitive strength beginning to wane. This volume argues that East Asian countries have far from exhausted their growth potential. However, future competitiveness will depend on much greater innovative capability in manufacturing and services, innovativeness that is grounded in stronger institutions, improved macroeconomic policies, and closer regional coordination. 'Can East Asia Compete?' clearly summarizes the issues currently being debated and provides guidance to East Asian economies on how to deal with the policy concerns that lie ahead.
