Japan, Singapore, Malaysia, and Korea developed rapidly under positive international circumstances, at least until the late 1980s. The international movement towards freer trade permitted these countries to effectively seek an export-oriented growth strategy. For example, the developed countries moved toward the opening of their domestic markets, yet these four countries, as developing countries, were allowed to keep their domestic markets effectively closed until the end of the 1980s. Korea faced “dangers of internal eco

Despite differences in political economy and resources, Korea, Japan, Malaysia, and Singapore have one common model of economic development. High rates of domestic savings, high rates of capital investment, a stable political situation, policies which stressed the importance of exporting, government guidance, rapid increases in labor force skills, and strong education levels all came together to produce a swift development of a strong economic nation that is still admired today.

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