This paper argues that the single most important factor that explains East Asia's development success was its fast … as the "engine of growth." It is in the context of industrialization that openness played an important role in East Asia … exchange) and industrialization. Part 1 of the paper documents the extent of structural transformation in developing Asia …

transformation that deviate from those of developed countries in different ways. Second, the paths of the subcontinents of Africa …, Asia, and Latin America are distinct, and there is great heterogeneity within each region. Third, many countries experience …

differed widely across countries in Asia, with a specific focus on the People’s Republic of China, India, and Thailand. It …