
About Ian Buchanan
Ian Buchanan is a senior executive adviser at Booz & Company, a leading global consulting firm.Is regional economic integration enough? The search for ‘Wave 3’ growth

“Those who cannot remember the past are condemned to repeat it,” said philosopher George Santayana. The aim of this paper is to draw lessons from Asia’s supposed “growth miracle” by disaggregating when, where—and why—growth occurred to better understand the roles of exogenous factors versus domestic policy choices. Our thesis is that the post-World War II “miracle” growth shared by many regional economies was a result of a unique set of circumstances linked not to their “Asian-ness”—but to exogenous, geo-political, developments and, in particular, to the Cold War. The Cold War was a battle for ideological leadership in political and economic domains between two nuclear powers who grew to accept a status quo based on the principle of mutual assured destruction (MAD).


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Recent Posts
- From Crisis to Resilience: The Evolution of the Banking Sector in Asia and the Pacific
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- Investing in Childcare a Win for Women and the Economy
- Flush and Flourish: Upgraded Toilets Can Transform Lives in Rural Asia
- New Ways for Climate Finance and Development in Asia and the Pacific
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