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• W2242335901 abstract "From 1960 to 1990, eight East Asian economies achieved extraordinary economic success. Per capita income grew more rapidly in South Korea, Singapore, Hong Kong, Taiwan, and Japan than anywhere else in the world. Thailand, Malaysia, and Indonesia were not far behind. In South Korea, real per capita income increased from $900 to $6,700. Economic growth was matched by improvements in life expectancy, gains in educational attainment, and reductions in poverty. East Asian economic success affected not only the lives of people in the region, it helped transform the global economy. During this period Japans economy became the world's second largest (with a gross domestic product twice that of Germany), trailing only the United States. Because East Asian economies focused on manufacturing products for export and made substantial investments abroad, their international impact increased even more rapidly than their size.The success of these economies has been attributed to a number of factors: a fiscally conservative, export-oriented economic policy; a well-educated, disciplined, hard-working labor force; a favorable global economy; an innovative, dynamic business sector; industrial policies that supported development of key sectors; and high rates of saving and investment that led to a rapid increase in capital (such as plants and equipment; physical infrastructure including roads, ports, railways; and communications infrastructure). A recently completed East-West Center-sponsored study of six of these economies- Japan, South Korea, Taiwan, Singapore, Thailand, and Indonesia-shows that one additional factor has played a fundamental role in East Asia's economic success: population change.This finding is significant for two reasons. First, it places East Asia's recent economic problems in perspective. Observers of the region are widely divided over whether current difficulties (including recessions, currency devaluations, and deflating stock prices) are short term in nature or reflect longerterm, structural problems. Our evidence shows that population changes in East Asia will favor strong economic growth for at least two more decades, except in Japan. Second, the finding demonstrates that for countries experiencing rapid population growth, family planning programs can be an important part of the arsenal used to achieve higher standards of living. In East Asia, rapid fertility decline and lower mortality rates created a window of opportunity which, when combined with effective economic policy, produced an era of remarkable economic progress.East Asia's Changing PopulationFollowing World War II, East Asia began to experience unprecedented rates of population growth. Health conditions and mortality rates had begun to improve in most Asian countries even before the war. As a consequence, population growth rates accelerated. In the 1960s, East Asian governments committed themselves to stabilizing population growth through national family planning programs. Over the following decades, childbearing among East Asian women declined at an unparalleled speed (Fig. 1), responding in part to population programs and in part to declining child mortality, urbanization, industrialization, higher educational attainment (especially for women), and rising childrearing costs. Within a single generation, the number of children born to the average woman dropped from six births or more to two or fewer.This rapid fertility decline did not immediately produce substantially slower population growth. Historically high fertility produces a population with a large concentration of women at the childbearing ages who add large numbers to the population even if their childbearing rates are low. Thus, growing populations are said to have a built-in momentum and grow for decades even after rates of childbearing are low. Between 1950 and 1995, for example, South Korea's population increased from 20 million to 45 million; Thailand's from 20 million to 59 million; and, Indonesia's from 80 million to 198 million. …" @default.
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• W2242335901 date "1997-10-01" @default.
• W2242335901 modified "2023-09-25" @default.
• W2242335901 title "Will Population Change Sustain the 'Asian Economic Miracle'?" @default.
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