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 China3.1 Economic Growth of China3.1.1 Planned Economy before 19783.1.2 Economic Reform and Growth after 19783.2 Legal Institutions3.2.1 Quality of the Laws3.2.2 Public Enforcement3.2.3 Private Enforcement3.3 Political Institutions3.4 Cultural Institutions3.5 Role of Market Infrastructure3.6 Determinants of Future Growth3.7 Concluding Remarks Hong Kong4.1 Economic Growth of Hong Kong4.1.1 Economic Development as a British Colony4.1.2 Post-Handover Economic Development4.2 Legal Institutions4.2.1 Quality of the Laws4.2.2 Public Enforcement4.2.3 Private Enforcement4.3 Political Institutions4.4 Cultural Institutions4.5 Role of Market Infrastructure4.6 Determinants of Future Growth4.7 Concluding Remarks Singapore5.1 Economic Growth of Singapore5.1.1 Growth before Independence5.1.2 Post-independence Economy5.2 Legal Institutions5.2.1 Quality of the Laws5.2.2 Public Enforcement5.2.3 Private Enforcement5.3 Political Institutions5.4 Cultural Institutions5.5 Role of Market Infrastructure5.6 Determinants of Future Growth5.7 Concluding Remarks Malaysia6.1 Economic Growth of Malaysia6.1.1 Growth before Independence6.1.2 Post-independence Economy6.2 Legal Institutions6.2.1 Quality of the Laws6.2.2 Public Enforcement6.2.3 Private Enforcement6.3 Political Institutions6.4 Cultural Institutions6.5 Role of Market Infrastructure6.6 Determinants of Future Growth6.7 Concluding Remarks Globalisation, Regionalism and Interdependence of Economies7.1 Rise of China as Engine of Global and Asian Growth7.1.1 China and Hong Kong7.1.2 China and Singapore7.1.3 China and Malaysia7.2 Transcontinental and Regional Cooperation: Lessons from ASEAN, TPP and OBOR7.2.1 ASEAN7.2.2 TPP7.2.3 OBOR7.3 Concluding Remarks Conclusion

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