StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Why do many economists argue for outward orientation and export promotion to the industrialization of East Asia - Essay Example

Comments (0) Cite this document
Summary
This piece of research work is an attempt to find out why many economists argue for outward orientation and export promotion for East Asian countries. This paper presents economic significance of both outward orientation and export promotion in order to help a country gain better role in international marketing and achieve economic growth…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.4% of users find it useful
Why do many economists argue for outward orientation and export promotion to the industrialization of East Asia
Read TextPreview

Extract of sample "Why do many economists argue for outward orientation and export promotion to the industrialization of East Asia"

Download file to see previous pages According to large proportion of economics, countries that have relied on outward orientation as a strategy for development and industrialization have done better than those countries that in contrary adopted inward orientation (Edwards, 1989, p. 1). More specifically, outward orientation is a trade policy characterized with absence of bias against exports, active promotion of exports and low trade barriers (Mody, 1999, p. 2). Firms face equal incentives to produce for the home as well export markets, same time emerging exporters are given quite high levels of initial market protection. Outward orientation is an absence of bias against exports (Bromley, Mackintosh and Brown, 2004, p. 69).
An inward orientation is an attempt to withdraw from the full participation of a country in the world economy. It supports import substitution that is the production of goods at home to be encouraged as it would otherwise to be imported. An outward orientation strategy is an attepmt to participate in international trade by encouraging resource allocation without any price distortions. Outward orientation is thus an application of production according to comparative advantage (Appleyard, Field and Cobb, 2005, p. 427).
Economists argue for the outward orientation to industrialize East Asia because it is highly useful strategy to enhance and improve the economic performance of the country. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Why do many economists argue for outward orientation and export Essay”, n.d.)
Why do many economists argue for outward orientation and export Essay. Retrieved from https://studentshare.org/macro-microeconomics/1569208-why-do-many-economists-argue-for-outward-orientation-and-export-promotion-to-the-industrialization-of-east-asia
(Why Do Many Economists Argue for Outward Orientation and Export Essay)
Why Do Many Economists Argue for Outward Orientation and Export Essay. https://studentshare.org/macro-microeconomics/1569208-why-do-many-economists-argue-for-outward-orientation-and-export-promotion-to-the-industrialization-of-east-asia.
“Why Do Many Economists Argue for Outward Orientation and Export Essay”, n.d. https://studentshare.org/macro-microeconomics/1569208-why-do-many-economists-argue-for-outward-orientation-and-export-promotion-to-the-industrialization-of-east-asia.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Why do many economists argue for outward orientation and export promotion to the industrialization of East Asia

East Asia Studies

Although much of the regional transformation in the recent years has been so positive, principally in the economic sphere, various challenges abound, this challenges pose the risk to stability in this region. It is rather hard to count on which of the two; economic and security, could trigger stability in the region. The discourse of security and economic situations has been hugely dominated by the rise of China’s economy which has a huge role of the foreign affairs and has also transformed the geographic landscape of the region, which has sent the policy makers in the region searching for effective ways to cooperate, while still evading uncertainty concerning its future course. Another trend that is being overlooked in the regio...
4 Pages(1000 words)Essay

Economists

... and the government borrowed money from banks, the federal government and other private financial lending institutions to conduct investments that they believed would result to higher returns and revenues. Many organizations and citizens wanted to invest borrowed money on new business ideas and receive abundant profits within a short time as compared to the ordinary investments that have moderate profits and interests. New inventions included building industries, railway lines, develop new resources, open real estates and new markets (Fisher, 1933). Financial lenders provided easy money, which led to over-borrowing. Most investors believe through speculation and over-confidence that they can borrow money at 6% and make profits of over 100...
7 Pages(1750 words)Essay

East Asia

...?id=8404 [accessed 05 October 2008] Lankov, A. (2006). Why N Koreas neighbors soft-pedal sanctions. [Online] Available at: http://www.atimes.com/atimes/Korea/HK30Dg01.html [accessed 05 October 2008] Onishi, N. & Kahn, J. (2006). North Koreas Neighbors Condemn Missile Tests, but Differ on What to Do. [Online] Available at: http://www.nytimes.com/2006/07/06/world/asia/06react.html [accessed 05 October 2008] Worldatlas (n.d.). NORTH KOREA. [Online] Available at: http://www.worldatlas.com/webimage/countrys/asia/kp.htm [accessed 05 October 2008]...
5 Pages(1250 words)Essay

Developmental state(East Asia)

After World Banks noted acceptance of a certain role of government intervention, it can be said that ‘Developmental state’ theory is the centre of the debate (Johnson 1982; Amsden 1989; Wade 1990; Chan 1993; MacIntyre 1994; Evans 1995).
For instance, Korea was cited as being one of the nations that had highly Confucian values and was characterized by significant state-led export oriented industrialization, authoritarianism and political development which was followed by economic development. Korea is ranked among the most developed third world countries which further raised the need for the study of the reasons why East Asian countries have been able to record such a magnitude of economic growth within a very short time. As a...
12 Pages(3000 words)Essay

Mysticism in East Asia

...Mysticism in East Asia Modernity is a process of transformation which mainly began after the nineteenth century. It is considered to be a development and change from the old to the new. The period of modernity was a time of change which reached its peak in the mid nineteenth century. The concept of capitalism emerged and the differences between the west and the east also emerged. West was considered to be the superior side. It was later that interest of the western countries developed in the east and the faith of Buddhism was closely seen. Buddhism was considered to be a religion of east and this religious belief also underwent changes of modernity. The powers of the western world that colonized the eastern countries admired the purity...
2 Pages(500 words)Essay

Mysticism in East Asia

...Mysticism in East Asia Religion is a which has a role to play towards modernity. It is believed that different religions have different affects on modernity with some of them restricting the development of modernity while others have been promoting it. Buddhism is considered to be an important faith which underwent many changes between the nineteenth and the twentieth century. It is believed that Buddhism played a positive role as a contributing factor towards modernity. This religion had its roots mainly in the Asian countries and Japan was one such country which totally under took this belief as its major faith and it was the first country in the east to actually become as modernized and successful as the western countries...
2 Pages(500 words)Essay

East and South East Asia Differences

... Task: East and South East Asia Differences Introduction It is agreeable that the east and Southeast Asian nations haveexperienced speedier trade and industry enlargement over the pat few decades. A number of these nations have become wealthy in the considerably shorter span of three preceding decades leading to the reference of the advancement as a trade and industry wonder. Similarly, the massive development has increasingly depended on the nations excellently established industrial set up which has increasingly promoted the fiscal and industrial advancements. Evidently, the advancements have massively benefitted from enhanced export augmentation with the economic set ups increasingly assuming an export dependent model. State...
6 Pages(1500 words)Term Paper

East Asia

One of the underlying reasons for why this particular text, known as “Art of War” has survived so many centuries is due to the fact that it seeks to apply tactics and strategies that specifically undermine and highlight weaknesses of one’s adversary. Within such a context, military strategists, cyber warriors, consultants, and even individuals utilize this text as a means of defining the problem in seeking to attack in a situation from the most effective angle possible. Essentially, Sun Tzu denoted that superiority in numbers, wealth, and many other aspects of superiority were not in and of themselves sufficient to guarantee that victory can be obtained. Whereas it is true that Sun Tzu specifically applied his knowledge and writin...
8 Pages(2000 words)Essay

East Asia

... Comparison Neo-Confucianism in China and Korea Neo-Confucianism is a term used in referring to the revival of the various strands of Confucianism philosophy and political culture that dates back to mid-9th century, and currently, the Northern Song Dynasty has established a highly social and intellectual society of the 11 century as in the case of the Chinese society that showed significant vitality (De Bary 308). Two nations that have had significant influence and participation in Confucianism are China and Korea. The two nations indeed experienced Confucianism in different perspectives; however, in certain instances, a number of similarities were evident. Based on such a perspective, this paper makes a comparison of the Neo... Comparison...
4 Pages(1000 words)Essay

History of East Asia

.... The merits brought about by civilization are many, but the current religious, political and cultural systems in Asia are organized in such a way as to hinder the full civilization of this society. The major reason why civilization has not taken place fully in Japan is because “civilization is incompatible with the conventionalism of Japan”9. The fact that the custom of traditional politics, customs and religion is not only a preserve of Japan but also of its neighboring countries such as Korea and China serves to explain why the East Asia region has lagged behind in civilization. This notwithstanding, Korea and China are more rigid than Japan when it comes to reforming their people into accepting Western civilization. The traditional...
4 Pages(1000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Why do many economists argue for outward orientation and export promotion to the industrialization of East Asia for FREE!

Contact Us