Innovations: The Four Asian Tigers specialized in areas of competitive advantage, such as electronic components and devices, which required innovation and technological advancements
Печерица Игорь Innovations: The Four Asian Tigers specialized in areas of competitive advantage, such as electronic components and devices, which required innovation and technological advancements.
Industrial policy/Industrialization: The Four Asian Tigers underwent rapid industrialization, which was one of the main factors behind their high economic growth rates.
Effective use of available means of production: The Four Asian Tigers made effective use of their available means of production to drive economic growth.
High rate of local consumption: While the Four Asian Tigers were primarily export-oriented economies, it is worth noting that they also had high rates of local consumption. This suggests that domestic demand played an important role in driving economic growth, alongside their export industries. This may have been due in part to rising incomes and the emergence of a middle class in these countries, which helped to drive demand for consumer goods and services.
Exports to richer countries: The Four Asian Tigers specialized in export-oriented economies and exported their products to richer countries, which helped to boost their economic growth.
Non-democratic governments: The Four Asian Tigers underwent rapid economic development during a period when many of their governments were characterized by authoritarian regimes. While it is not clear whether non-democratic governments played a direct role in the economic success of these countries, it is worth noting that their governments were able to implement policies that focused on economic development without being subject to the same level of public scrutiny and opposition that might be present in a more democratic society.
Democratic governments: While the governments of the Four Asian Tigers were not necessarily democratic during their period of rapid economic growth, it is worth noting that today all four countries have democratic governments. This suggests that democratic governance may be a necessary condition for sustaining economic growth over the long term, as it allows for greater transparency and accountability, which can help to foster greater public trust and confidence in government institutions.
Strict management rules: The Four Asian Tigers were known for their strict management rules, which were implemented in order to promote economic efficiency and discipline. These rules included policies such as wage restraint, labor discipline, and strict controls on capital outflows. While these policies may have been controversial at the time, they helped to create a business-friendly environment that attracted foreign investment and fostered economic growth. However, it is worth noting that strict management rules can also be associated with negative consequences, such as labor exploitation and the suppression of worker rightsBased on the given information, the things that helped the Four Asian Tigers to grow rapidly are:
Good relations between management and workers: Another factor that contributed to the economic success of the Four Asian Tigers was the presence of good relations between management and workers.
Free market capitalism: The economic success stories of the Four Asian Tigers were based on the principles of free market capitalism, which allowed for greater economic freedom and innovation.
Communist economic ideas: It is worth noting that communist economic ideas were not a significant factor in the economic success of the Four Asian Tigers. In fact, these countries embraced free market capitalism and adopted policies that focused on economic growth through market-oriented reforms. The economic success of the Four Asian Tigers was largely due to their ability to create a business-friendly environment and attract foreign investment through policies that promoted economic liberalization, privatization, and deregulation.