Ha-Joon Chang
Faculty of Economics and Politics
University of Cambridge
May 1999

Summary:
This paper is organised in the following manner. First of all, It will present a critical review of the EAM. Here, we will devote more efforts to raising issues that were neglected in the earlier debate, rather than to going over the issues that were already debated. Next, we assess the currently popular view that industrial

policy was behind the “downfall” of the East Asian model. Then we discuss whether the more recent economic, political, and institutional changes (both at
the national and international levels) have made the use of industrial policy in East Asia less feasible in the future. This is followed by concluding remarks

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