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ROCKING OUR PRIORS

How did East Asia Get Rich?

Aug 30, 2024
Dr. Oliver Kim, a recent PhD graduate from Berkeley and researcher at Open Philanthropy, dives into the remarkable economic convergence of East Asia with the West. He explores the historical and institutional legacies of nations like South Korea and Taiwan, illuminating the role of education and meritocratic reforms. The discussion highlights how big data is reshaping our understanding of structural transformation and the complexities of land reform in boosting economic growth. Oliver also analyzes the resurgence of industrial policies and their impact on current economic landscapes.
01:17:03

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Podcast summary created with Snipd AI

Quick takeaways

  • East Asia's convergence with the West is attributed to historical institutional legacies, strategic economic policies, and a favorable global macro environment.
  • Land reform in East Asia post-mid-20th century was essential for agricultural productivity, though broader state investments played a crucial role in economic growth.

Deep dives

The Convergence of East Asia with the West

East Asia has uniquely converged with the West, driven by three major factors: historical institutional legacies, economic policies post-independence, and the global macro environment. The historical context emphasizes the deep-rooted institutions and cultural factors that distinguish East Asia from other regions like Africa, where states were often arbitrary colonial creations with fragmented identities. In stark contrast, East Asia's longstanding civilizations fostered the development of cohesive nation-states capable of implementing effective pro-growth policies. This convergence also highlights the significant impact of East Asia’s approach to education and social mobility, stemming from culturally ingrained values that prioritize meritocracy and upward mobility through effort and education.

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