Confusion is compounded when he discovers that ideological debate has multiplied even further the analyses of this phenomenon. Articles on why the most successful economies of the region Hong Kong, Korea, Singapore, and Taiwan Province of China have grown, to say the least, robustly invariably refer to the phenomenon as 'miraculous.' When practitioners of the Dismal Science have recourse to a Higher Power, the reader knows that he is in trouble.

The spectacular growth of many economies in East Asia over the past 30 years has amazed the economics profession and has evoked a torrent of books and articles attempting to explain the phenomenon. Readers interested in the original Working Paper may purchase a copy from IMF Publication Services. Driscoll of the Fund's External Relations Department. The following paper draws on material originally contained in IMF Working Paper 95/98, 'Growth in East Asia: What We Can and What We Cannot Infer From It,' by Michael Sarel, an Economist in the Fund's Southeast Asia and Pacific Department. This material is refined for the general readership by editing and partial redrafting. The raw material of the series is drawn mainly from IMF Working Papers, technical papers produced by Fund staff members and visiting scholars, as well as from policy-related research papers. Its aim is to make accessible to a broad readership of nonspecialists some of the economic research being produced in the International Monetary Fund on topical issues. The Economic Issues series was inaugurated in September 1996. Use the free Adobe Acrobat Reader to view pdf files. September 1996 PDF File (230k) also available.

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