Pax-Americana-led macro-clustering and flying-geese-style catch-up in East Asia: Mechanisms of regionalized endogenous growth

Ozawa, Terutomo

Rapid growth in East Asia (despite the 1997-98 crises) has been unique as it is clustered so intensively only in that particular region. The flying-geese model of industrial upgrading is applied to the emergence of Pax-Americana-led growth clustering. The high propensity of the U.S. to transplant manufacturing overseas, Japan's roles of structural intermediator and capacity augmenter, and catching-up economies' public policies are the key co-determinants of regionalized endogenous growth in East Asia.

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Academic Units
Center on Japanese Economy and Business
Center on Japanese Economy and Business, Graduate School of Business, Columbia University
Center on Japanese Economy and Business Working Papers, 205
Published Here
February 10, 2011