Industrial transformation of Asia arguably constitutes the most surprising and dramatic change in the global economy in the last fifty years. This paper provides an outline of some of the most important trends of this development and analyses selected national industrial policies that promoted...

Most of the time the budget constraints in the socialist economies were harder than in developing countries and no less hard than in developed countries. The soft budget constraints (SBC) in socialist economies were not pervasive, as most authors believe, but selective, i.e. involved...