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- W2285969374 abstract "This paper seeks to explore an important aspect of the developmental state, namely its ability to raise the level of savings in the domestic economy. This focus on capital accumulation deliberately re-emphasises an almost forgotten virtue: thrift. In East Asia, the resource allocation, rather than capital accumulation, has attracted the most attention which has also been criticised by Akyuz and Gore who write that' [t]he success of East Asian industrialization has depended very much on the role of gov ernment intervention in accelerating capital accumulation and growth' (1996, p. 461). Among the countries Leftwich (1995) identifies as developmental states are the old guard of East Asian countries whose inclusion will surprise no one - Japan, Ko rea, Taiwan, Singapore, and the second generation tigers - but also one solitary African state, Botswana. When it comes to measuring the developmental effective ness of their respective economic policies, Botswana equals, according to Leftwich, Korea, Taiwan and Singapore. By focusing predominantly on Taiwan, with brief comparisons to Botswana, this paper seeks to highlight one of the most defining characteristics and 'central econom ic mechanism of the developmental state [which] is the use of state power to raise the economy's investible surplus' (Wade, 1990: 342). It is not intended here to pro vide a full-scale analysis nor a critique of Botswana's economic policies, but to show that it is flawed to classify Botswana as a 'developmental state' if this concept is to re main a meaningful one. I will argue that developmental states mobilise savings in the private sector by re ducing private consumption and intervening in household saving-consumption deci sions. I will show that both motivation and returns for private savings are effected by developmental state policies. 'Forced' capital accumulation, where the state appropri ates household savings by means of monopolistic pricing methods and controls also played an important part. This paper is organised as follows: section 2 will briefly outline Botswana's eco nomic structure and sources of growth. Section 3 discusses some micro-economic" @default.
- W2285969374 created "2016-06-24" @default.
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- W2285969374 date "2016-01-01" @default.
- W2285969374 modified "2023-09-24" @default.
- W2285969374 title "THE IMPORTANCE OF BEING THRIFTY: SAVINGS POLICIES IN TAIWAN AND BOTSWANA" @default.
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