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The East Asian Economic Miracle From the Developmental Perspective
The instances of rapid economic growth and the resulting business development are always inspiring and filled with essential lessons to learn. The East Asian economic miracle is one of those scenarios, with its stupendous rise in profitability of organizations located in the region representing a combination of external and internal factors aligning perfectly. To understand the observed phenomenon, one will need to scrutinize it from the perspective of the Developmental/Interventionist Theory. The choice of the described theoretical framework as the groundwork for the analysis is justified by the Developmental/Interventionist Theory, which helps to establish causation between several occurrences.
By incorporating the Developmental/Interventionist Theory into the analysis of the events transpiring in East Asian at the specified time slot, one will be able to embrace the multitude of contributors to what was deemed as an economic miracle at the time. As a result, the phenomenon under analysis will no longer represent an unexplainable mystery and an instance of incredible luck, but a predictable outcome of several trends and decisions made in the target economic setting. Therefore, the integration of the Developmental/Interventionist theory as the basis for the analysis of the East Asian economic miracle appears to be the most reasonable choice. Moreover, the incorporation of the Developmental/Interventionist perspective will shed light on the relationships between the economic, political, technological, and sociocultural variables identified in the course of the analysis. For example, the study of the impact that a comparatively relaxed taxation policy along with political collaboration had on the emergence of the East Asian miracle becomes possible once the specified theory is incorporated. Overall, the Developmental/Interventionist Theory provides an important analytical tool for embracing the key variables and establishing cause-and-effect relationships between them.
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