經濟學Essay要求：What can we learn from the success of the East Asian economies?
本文是經濟學專業(yè)的留學生Essay范例，題目是“What can we learn from the success of the East Asian economies?（我們能從東亞經濟體的成功中學到什么?）”,本文的目的不是對微觀或宏觀經濟政策進行深入的比較分析，而是以一種綜合的方式呈現(xiàn)一些對理解東亞經濟成功至關重要的實施戰(zhàn)略。
INTRODUCTION介紹
The purpose of this essay is not to describe a deep comparative analysis of micro or macroeconomic policies, but rather to present in an integrated way some of the strategies implemented that were crucial for understanding the economic success of East Asia.
In Southeast Asia, reflections on development policy began early, emphasizing the issues of modernization and limited links with the West. After World War II, a period in which Asian countries begin to progressively become independent, development models with central planning, established in yearly projections, begin to be developed.
在東南亞，對發(fā)展政策的反思很早就開始了，強調現(xiàn)代化和與西方聯(lián)系有限的問題。第二次世界大戰(zhàn)后，亞洲國家開始逐步獨立，開始制定每年預測建立的中央計劃發(fā)展模式。
It can be said that the strategies used by East Asia in the context of the globalization had a lot to do with its development and success, especially those strategies oriented to the development and use of human resources, as well as the alliance between the public and private sectors with the objective of optimizing the available resources were crucial for the growth of the region.
In the following enumerated sections, we will understand and learn which were the strategies used in particular areas by the region to better understand how their economies succeed.
I. INTERNATIONAL ALIGNMENT即國際對齊
Asian countries have always understood and maintained that development can only flourish within the realistic recognition of existing structures in the international system. The countries of the region recognize their link with the Western-capitalist economic order and the system is accepted as the best alternative to ensure the growth and modernization.[1]
亞洲國家一貫認識和主張，只有在現(xiàn)實承認國際體系現(xiàn)有結構的基礎上，發(fā)展才能蓬勃發(fā)展。本區(qū)域各國認識到它們與西方資本主義經濟秩序的聯(lián)系，并承認這一制度是確保增長和現(xiàn)代化的最佳選擇
In this regard, the countries of Southeast Asia have set an excellent standard in terms of attracting foreign investments, essential for economic success. In some country's privatization and external investments always require a percentage of capital and local management, in this way not only the identity of the region is maintained but also the formation and training of the human resources of the region are promoted, thus ensuring development.
II. ASIAN DEVELOPMENT MODELS亞洲發(fā)展模式
The state had an important role in the economic success since the process started as governments established the mobilization of investments and industrial development efficiently. A concrete example is Japan, whose government-oriented the exchange rate and domestic credit towards large corporations to accelerate investments and protect the domestic market so that their companies could achieve static and dynamic economies of scale. [2] As a result, the level of imports of manufactures decreased and the economy of the country strengthened. Korea, Malaysia, and Indonesia are other examples of this procedure.
國家在經濟成功中發(fā)揮著重要作用，因為這一過程始于政府有效地動員投資和工業(yè)發(fā)展。一個具體的例子是日本，其政府主導的匯率和國內對大企業(yè)的信貸，以加快投資和保護國內市場，使他們的公司可以實現(xiàn)靜態(tài)和動態(tài)的規(guī)模經濟。結果，制造業(yè)的進口水平下降，國家的經濟得到加強。韓國、馬來西亞和印度尼西亞也是這樣的例子。
These models resulted in record values in terms of sustained growth from the sixties to the year two thousand. During this period, growth was especially concentrated in eight economies, in what we could define as three waves of growth. The first wave of growth was Japan, followed by the called Four Tigers (Hong Kong, Korea, Singapore, and Taiwan), and finally by Indonesia, Malaysia, and Thailand.[3]
The first and second wave of growth in Asia applied a considerable amount of state intervention during the industrialization process, in contrast, the third wave placed much more emphasis on private sector liberalization. [4] Although there is no single Asian model, there is no doubt that there are common characteristics of their leaders such as the ability to learn from the experiences of others, their agility, and dynamism.
III. LOW INFLATION AND COMPETITIVE EXCHANGE RATES低通脹和有競爭力的匯率
Macroeconomic stability and low levels of inflation were a basic prerequisite for the economic success of these economies, where one of the key elements was the administration of the fiscal deficit. Through regulations and legislation, the region ensured that the debt acquired is used in activities that favored development, in this way preventing financed investments from being channeled towards consumption.
宏觀經濟穩(wěn)定和低通貨膨脹水平是這些經濟體經濟成功的基本先決條件，這些經濟體的關鍵因素之一是管理財政赤字。通過規(guī)章和立法，該區(qū)域確保所獲得的債務用于有利于發(fā)展的活動，從而防止融資投資用于消費。
On the other hand, success in export promotion required a competitive real exchange rate. For this, reasonable fiscal and monetary policies were combined with a flexible exchange rate administration, to keep the exchange rate aligned with the changing protectionist structures and inflationary levels of its trading partners.[5] For example, countries like Indonesia, Korea, and Thailand faced periods of real appreciation of their currencies, avoided maintaining a fixed exchange rate given the possibility of reaching higher inflation rates than those of their trading partners.
IV. EXPORT PROMOTION 促進出口
The success of the economies of the Asia Pacific region has been associated with the rapid growth of its exports, in fact, since 1970, the growth of exports in the region has been usually superior to that of the rest of the developing world.
亞太區(qū)域各經濟體的成功與其出口的迅速增長有關，事實上，自1970年以來，該區(qū)域的出口增長通常優(yōu)于其他發(fā)展中世界。
Authors such as Weiss[6], Redding and Venables[7], among others, argue that openness to international trade, supported by a system of neutral incentives, was a critical factor in
Asia's rapid growth. Asian countries practiced intervention in different sectors of the economy, including commercial aspects, but they did not fail to recognize the importance of trade as a development factor.
Interventions in industrial policy, which often made use of trade policy instruments, were implemented under the belief that changing the industrial structure to new and more modern sectors increased opportunities to capture dynamic economies of scale; this strategy remains currently applied and is one of the reasons for the balanced growth of the region in terms of technology, production processes, and products, as well as necessary to maintain an acceptable competitive level.
The World Bank itself recognizes that, of all the interventionist processes applied in East Asia, the one associated with the export impulse is the most promising for other developing countries.[8]
V. FINANCIAL SYSTEM金融體系
In the financial sector, policies were established to promote savings and to channel resources towards activities with high social return. Although different institutions and policies were used, in general, there were positive real interest rates for deposits and stable financial systems.[9]
在金融部門，制定了促進儲蓄和將資源用于具有高社會回報的活動的政策。雖然使用了不同的機構和政策，但總的來說，存款的實際利率是正的，金融系統(tǒng)是穩(wěn)定的
Besides, regulations were promoting responsible behavior, for example, avoiding loans for speculative purposes. Furthermore, although these countries did not implement deposit guarantee systems, they transmitted confidence to the system, essential for an economy prosper, through rescue programs if were necessary.
Domestic savings and the level of investments in East Asia is significantly higher compared to other economies. The difference between domestic savings and investments is the outflow of foreign capital.[10] East Asian economies as a group have been one of the only economies in which savings exceeded investments, making them net exporters of capital, which will help them expanding the market of the region, increasing economies of scale and having more capacities to specialize in research and technology.
CONCLUSION結論
The rapid growth of East Asian economies is unquestionably an example in terms of implementing development strategies. However, despite the international recognition of this fact, some developing countries have not followed the East Asian model.
東亞經濟的快速增長無疑是實施發(fā)展戰(zhàn)略的一個例子。然而，盡管國際社會已經承認這一事實，但一些發(fā)展中國家并沒有效仿東亞模式。
It can be said that it is important to be aligned with the main international economic system to thrive economically, doing this the region was able to attract foreign investment achieving growth and expanding its market. Besides, this alignment was an incentive for boosting exports, finally reaching the leadership in terms of world industry exports.
It can be learn from this countries that an economic success can be achieved through some common characteristics that they applied in their economies, such as, macroeconomic stability, low levels of inflation, rapid economic growth, broad participation in the benefits of growth, growth based on technological progress, rapid export growth, rapid demographic transition, high investment rates and significant savings in human capital investments.
Another point that can be can learn from East Asian countries is that if a country becomes a net exporter of capital it would develop its expansion thought the world market, increasing its economies of scale and having more capacities to specialize in research and technology, essential for success in the economy.
Undoubtedly, the economies of the region have suffered due to the crisis of 2008, but nevertheless, the achievements of the model that allowed many East Asian countries to perform important economic achievements in less than a generation must be recognized.
毫無疑問，由于2008年的金融危機，該地區(qū)的經濟遭受了損失，但盡管如此，該模式的成就，讓許多東亞國家在不到一代人的時間里取得了重要的經濟成就，這必須得到承認。
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