Asia’s economic transformations hold crucial lessons for latecomer countries, including those in Africa. Deepak Nayyar’s latest book, Resurgent Asia, convincingly demonstrates the fundamental importance of technological development, learning and industrialisation in Asia’s transformational journey from developing to industrialised economies.
The book also illustrates the essential role of the state as leader, catalyst and supporter of Asia’s transformation, albeit with different roles in different sectors, countries and development stages. Openness works well for industrialisation and transformation only when complemented by strategic actions and industrial policy.