The 1993 World Bank report titled The East Asian Miracle (1993) singles out eight high-performing Asian economies. Which of the following is excluded from that group ?
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Answer: C. Vietnam
Explanation
The World Bank study excluded Vietnam from its high-performing group. High-performing Asian economies focused on Japan and the Four Tigers. East Asian miracle economies included specific NICs but omitted Vietnam. The 1993 World Bank report analyzed rapid growth in East Asian nations. Hong Kong, South Korea, Singapore, and Taiwan form the Four Tigers. Japan and newly industrialized economies drove regional export expansion.
Development economists study the East Asian miracle to design growth policies. Export-led growth strategies became a model for developing nations worldwide. State-directed industrial policy was a key focus of the World Bank report. Japan is included among the high-performing Asian economies studied. Four tigers are explicitly included in the World Bank analysis group. Thailand is included among the high-performing Southeast Asian economies.
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