ASIAN TIGERS’ EXPERIENCE OF EXPORT-ORIENTED INDUSTRIALIZATION: IS IT RELEVANT FOR MODERN UKRAINE?

Abstract

The article looks into the problems of using economic policies, mechanisms and tools that enabled rapid economic growth of Asian tigers in the last third of previous century and led them to high living standards at the present stage. The author questions functionality of this experience in modern world and aims to assess the viability of implementing the policy of export-oriented industrialization in Ukraine. The restrictive nature of modern multilateral trading system in the sphere of tariff protection for “infant industries” is analyzed. Other WTO obligations restraining government support of investment and technologies transfer are outlined. Radical changes in the structure of modern international economic relations that undermine the effectiveness of strategy of export-oriented industrialization are revealed. The crucial role of regional leader in giving the initial impetus for structural changes of developing economies is argued.

Keywords

• export-oriented industrialization
• Asian tigers
• tariff protectionism
• “infant industries”
• WTO
• regional trade agreements