Towards a political economy explanation of rapid growth in Southeast Asia

Abstract

This article offers an explanation for the rapid economic development of the four high growth economies of Southeast Asia (Indonesia, Malaysia, Singapore, and Thailand) over the past 30 years. It initially provides a brief review of the major determinants of interna tional differences in economic performance, drawing on both the economic growth and the "?East Asian miracle"? literature, and a confirmation that these determining factors have been operative to some extent in the four countries. The major section of the article addresses the political economy question of why, over the past 30 years, these countries have generally adopted the "?right"? development policies more than is the case almost anywhere else out side East Asia.