The East Asian Economic Miracle

Some East Asian countries, notably Taiwan, South Korea, and Japan, experienced significant economic growth post-World War II, often referred to as the East Asian miracle. One fundamental question in development economics revolves around what propelled these nations from poverty to high development. Historically, land reform has been cited as a key factor in this transformation, aimed at redistributing land from wealthy landlords to smallholders, which was believed to enhance agricultural productivity and economic stability. Understanding the mechanisms behind this growth is crucial for other developing nations aiming to replicate similar successes.