Beyond Market and State: A Study of Hong Kong's Industrial Transformation

Alex Hang-Keung Choi

Abstract


Since the 1970s, the rapid growth of a small group of Newly Industrializing Countries (NICs) has caught the attention of some prominent neoclassical economists, including Ian Little, Bela Balassa and Ann Krueger. A number of empirical studies have been carried out on these countries and the conclusions invariably associate their extraordinary growth with superior free trade and export-oriented policies) However, such findings are not uncontroversial. Studies conducted by other writers have shown that the markets and trading regimes of these NICs have not been as free as the neoclassicists claimed.

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Studies in Political Economy:
Online ISSN 1918-7033
Print ISSN 0707-8552