Up until 1997 it was widely held that the East Asian economies provided a good example to the economies of Sub-Saharan Africa. Then, after the Asian crisis of 1997-8 equally broad brush - though less positive - lessons were drawn. By contrast this comprehensive book focuses on the prevailing conditions in Asia and Africa under various macroeconomic and sectoral themes in order to provide in depth explanations for the divergent development experiences of the two regions. Seeking to go further than the simple comparison of policies, the book carefully examines the institutional context for policy implementation within which growth and development have proceeded in the regions.
Contents: The Context: Introduction: comparative development experiences in Sub-Saharan Africa and East Asia, Ernest Aryeetey and Machiko Nissanke; Comparative institutional analysis: Sub-Saharan Africa and East Asia, Machiko Nissanke and Ernest Aryeetey. Macroeconomic Management and the Development Process: Macroeconomic performance in Sub-Saharan Africa in a comparative setting, Ibrahim A. Elbadawi, Benno J. Ndulu and Njuguna S. Ndung'u; Macroeconomic management and the development process: a perspective of Francophone Africa, Hiey Jacques Pégatiénan; Korea's experience in macroeconomic management and stabilization policy, Sung-Hee Jwa and Kwanghee Nam; Macroeconomic management and the development process: the Southeast Asian perspective, Bhanupong Nidhiprabha. Trade, Industry and Technology: Trade, industry and technology development in Sub-Saharan Africa: policies, response and effects, Ademola Oyejide and Samuel M. Wangwe; Trade, industry and technology policies in Northeast Asia, Ha-Joon Chang; Trade and the industrial and technological development of ASEAN countries, Thee Kian Wie. Financial Policies and Financial Sector Development: Financial policies and financial sector development in Sub-Saharan Africa, Ernest Aryeetey and Machiko Nissanke; Financial institution building in Meiji Japan, Juro Teranishi. Rural Development, Income Distribution and Poverty: The state of rural poverty, income distribution and rural development in Sub-Saharan Africa, Ali Abdel Gadir Ali and Erik Thorbecke; Rural development, income distribution and poverty alleviation: a Northeast Asian perspective, Toshihiko Kawagoe; Rural development, income distribution and poverty decline in Southeast Asia, Anne Booth; Index.
Reviews: '…the editors demonstrate the valuable insights that can be obtained from a knowledgeable application of the new institutional economics which is at the cutting edge of development studies.'
Professor Tony Killick, Overseas Development Institute, London
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