Institutions and Economic Growth in Asia

Flora Huang is Senior Lecturer in Law at the University of Essex, UK.Horace Yeung is a Lecturer in Commercial Law at the University of Leicester, UK.

• Introduction Institutions and Growth: Setting the Scene What Matters? Varieties of Growth Models Importance and Dynamics of Institutions Legal Institutions Role of Law Enforcement Political Institutions Cultural Institutions Economic Institutions Concluding Remarks China 3.1 Economic Growth of China 3.1.1 Planned Economy before 1978 3.1.2 Economic Reform and Growth after 1978 3.2 Legal Institutions 3.2.1 Quality of the Laws 3.2.2 Public Enforcement 3.2.3 Private Enforcement 3.3 Political Institutions 3.4 Cultural Institutions 3.5 Role of Market Infrastructure 3.6 Determinants of Future Growth 3.7 Concluding Remarks Hong Kong 4.1 Economic Growth of Hong Kong 4.1.1 Economic Development as a British Colony 4.1.2 Post-Handover Economic Development 4.2 Legal Institutions 4.2.1 Quality of the Laws 4.2.2 Public Enforcement 4.2.3 Private Enforcement 4.3 Political Institutions 4.4 Cultural Institutions 4.5 Role of Market Infrastructure 4.6 Determinants of Future Growth 4.7 Concluding Remarks Singapore 5.1 Economic Growth of Singapore 5.1.1 Growth before Independence 5.1.2 Post-independence Economy 5.2 Legal Institutions 5.2.1 Quality of the Laws 5.2.2 Public Enforcement 5.2.3 Private Enforcement 5.3 Political Institutions 5.4 Cultural Institutions 5.5 Role of Market Infrastructure 5.6 Determinants of Future Growth 5.7 Concluding Remarks Malaysia 6.1 Economic Growth of Malaysia 6.1.1 Growth before Independence 6.1.2 Post-independence Economy 6.2 Legal Institutions 6.2.1 Quality of the Laws 6.2.2 Public Enforcement 6.2.3 Private Enforcement 6.3 Political Institutions 6.4 Cultural Institutions 6.5 Role of Market Infrastructure 6.6 Determinants of Future Growth 6.7 Concluding Remarks Globalisation, Regionalism and Interdependence of Economies 7.1 Rise of China as Engine of Global and Asian Growth 7.1.1 China and Hong Kong 7.1.2 China and Singapore 7.1.3 China and Malaysia 7.2 Transcontinental and Regional Cooperation: Lessons from ASEAN, TPP and OBOR 7.2.1 ASEAN 7.2.2 TPP 7.2.3 OBOR 7.3 Concluding Remarks Conclusion