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The three Mini Dragons: Economic development in Thailand, Malaysia, and Indonesia

Masato Hayashida

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Abstract

The rapid pace of economic growth in Thailand, Malaysia, and Indonesia indicates that all three ASEAN countries are quickly becoming Newly Industrialized Economies (NIEs). Yet a close comparison of the three leads the author to conclude that there are dissimilarities in their economic development resulting from each country's unique social and economic conditions. Masato Hayashida was a senior economist in the Economic Research Division at The Mitsubishi Bank before being seconded to IIPS as a senior research fellow.

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What this paper is about

The rapid pace of economic growth in Thailand, Malaysia, and Indonesia indicates that all three ASEAN countries are quickly becoming Newly Industrialized Economies (NIEs). Yet a close comparison of the three leads the author to conclude that there are dissimilarities in their economic development resulting from each country's unique social and economic conditions. Masato Hayashida was a senior economist in the Economic Research Division at The Mitsubishi Bank before being seconded to IIPS as a senior research fellow.

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Available abstract

The rapid pace of economic growth in Thailand, Malaysia, and Indonesia indicates that all three ASEAN countries are quickly becoming Newly Industrialized Economies (NIEs). Yet a close comparison of the three leads the author to conclude that there are dissimilarities in their economic development resulting from each country's unique social and economic conditions. Masato Hayashida was a senior economist in the Economic Research Division at The Mitsubishi Bank before being seconded to IIPS as a senior research fellow.

Key concepts: Pace, Economic growth, Political science, Development economics, Division of labour, Economy, Economics, Geography

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