This paper argues that economic competition and political contestability are two key determinants of the successful development of the Swiss economy in the nineteenth and twentieth century. We describe how Switzerland evolved from a relatively poor country with no natural resources and net...

Industrialization has long been seen as the answer to underdevelopment and poverty. First this led countries to follow protectionist import substitution policies but as these failed developing countries have opened up to trade and FDI and tried to follow strategies of export driven...

Vietnam's development performance since the early 1990s has been one of the strongest in the world, following the introduction of its doi moi ("renovation") economic reform programme in 1986. The core of Vietnam's economic strategy has been rapid integration into the world economy, with a...

This paper investigates the institutional reason underlying the change in the trajectory of economic growth in post-reform China, and argues that the trajectory of growth was much more normal during the period of 1978-89 than in the post-1989 era. In the former period, growth was largely induced...

The segmentation of global manufacturing and services provided China and subsequently India with a golden opportunity to make full use of their absolute advantage low cost yet educated labour to integrate into the world economy within a comparatively shorter period of time than some earlier...

Vietnam has been following China's path closely and very successfully for the last two decades, since the adoption of "Doi moi" in 1986. Over those last two decades, economic growth rates in both countries have been the highest worldwide (with GDP growing by 8 per cent and 10 per cent per year,...

Schumepterian growth theory stresses the role of structural change in long run growth. Countries which increase the share of technology-intensive sectors in their economic structures benefit more from technological learning and innovation. In addition, they are more able to respond to changes in...