The Economic Growth of Southeast Asia: Trade, Globalization and Development since 1870

This is the first comprehensive analysis of Southeast Asian globalization and development since 1870. Interpreting over 150 years of Southeast Asian economic history, Gregg Huff traces the impact of a first period of globalisation from the 1870s to 1929, the effects of Japanese occupation during World War II and its aftermath, and a second wave of globalisation since the late 1960s. He uses vent-for-surplus, dual economy and plural society concepts and argues that the response of those in Southeast Asia to periods of transport revolutions, innovation and opportunity in the world economy translated into rapid export-led growth. Recent swift growth enabled Southeast Asia to start to 'catch up' with the world's leading countries for the first time in its history. Achievements include industrialization, genuine social progress and numerous large urban regions. Nevertheless, the book contends that Southeast Asian development in its 'miracle economies' remains incomplete.