Evolving China Strategies: How the Japanese Compare |
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Authors: | Manuel F. Montes |
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Affiliation: | East-West Center , Hawaii |
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Abstract: | Taking a sceptical view of the ‘Asian miracles’ proposition that government failure is the main culprit behind development failure, this article reviews the Philippine development experience. The Philippine configuration consists of a weak state carrying out industrial promotion and a large private sector whose dynamics depend heavily on state-managed privileges. In the final section, the article proposes an alternative to the rent-seeking model, in which rents defined as returns contingent on political position and rivalry over political position determine private investment behaviour. In such a society, there is limited internal basis for structural change and growth is accidental to external developments. |
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