The Mechanism of Economic Development: Growth in the Japanese and East Asian Economies. By Ken-Ichi Inada Sueo Sekiguchi and Yasutoyo Shoda. Clarendon Press, Oxford University Press, 1992. ix, 331 pp.

1994 ◽  
Vol 53 (1) ◽  
pp. 204-206
Author(s):  
Man-Lui Lau
Keyword(s):  
Economic Development ◽  
East Asian ◽  
Oxford University ◽  
Asian Economies ◽  
East Asian Economies ◽  
Oxford University Press

scholarly journals The East Asian Model of Economic Development and Developing Countries

2002 ◽  
Vol 18 (4) ◽  
pp. 330-353 ◽  
Author(s):  
Jong H. Park
Keyword(s):  
Economic Development ◽  
Southeast Asia ◽  
East Asian ◽  
Northeast Asia ◽  
Market Failures ◽  
Government Interventions ◽  
Scarce Resources ◽  
Asian Economies ◽  
The Government ◽  
East Asian Economies

This paper examines the debate on the East Asian model of economic development in light of the different approaches undertaken by different groups of countries (economies) in Northeast Asia and Southeast Asia. The common strengths and weaknesses shared by the East Asian countries (economies) have helped to reinforce the misconception that there is a single East Asian model of economic development. There are, however, significant differences in economic structures as well as development experiences among the East Asian economies, especially between the economic development paradigms of Southeast Asia and Northeast Asia. Nonetheless, one single common thread underlies the differences in development strategies and experiences among the East Asian economies—the role of the government. The governments of East Asia have recognized the limitations of markets (or market failures) in the allocation of scarce resources in the economy, and have used government interventions to promote economic development. The recent Asian crisis hardly signifies the end of the so-called East Asian model of economic development.

scholarly journals Are Family Firms More Levered? An Analysis of Family and Non-Family Firms

SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110223
Author(s):  
Jahanzaib Haider ◽  
Abdul Qayyum ◽  
Zalina Zainudin
Keyword(s):  
Family Firms ◽  
East Asian ◽  
Ordinary Least Squares ◽  
Maturity Structure ◽  
The Family ◽  
Asian Economies ◽  
The Board Of Directors ◽  
East Asian Economies ◽  
Combined Data

This study analyzes the leverage policies of the family and non-family firms of eight East Asian Economies (Hong Kong, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, and Taiwan) by using combined data of 690 family and non-family firms with 3,224 firm–years over the period 2006–2010. This study has used an ordinary least squares (OLS) regression for analyzing the data for the first question, while for the second question, logit regression has been used as the dependent variable (a binary variable). Prior research on family and non-family firms has revealed that family firms issue less (high) debt than non-family firms. Our analysis on a sample of East Asian Economies discloses that family firms have significantly different leverage levels than non-family firms, but their signs are not consistent. On the contrary, when the owner works as CEO/Chairman or member of the Board of Directors, then the family firms issue less debt than the non-family firms. Besides that, this study adds a new question that has not been addressed in the prior studies. The new question has focused on the speed of leverage adjustment. It is found that family firms and non-family firms regarding their debt maturity structure (short-term debt and long-term debt), the speed of leverage adjustments, and their decision to issue securities (i.e., debt vs. equity) are not significantly different. This study concluded that though family firms have a strong influence on each economy, but in South-East Asian countries, leverage policies of the family firms are not much different than that of non-family firms.

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