ABSTRACT
In recent years, the factors underlying East and South-east Asian e c o n o m i c growth have b e e n increasingly discussed in the deve lopment e conomics literature, with economists offering various reasons for this success. A m s d e n (1989) argues that Korea ' s spectacular industrial achievement can be explained by government subsidies, tariff and non-tariff incentives, financial credit facilities, a highly edu - cated and trained workforce , f irm capabilities to learn and adapt foreign technol - ogy, and the government role in linking incentives to exports. Even the Wor ld Bank (1993) n o w recognizes the role o f government intervention in spurring industries to export . T h e successes o f local companies in South-east Asian c o u n - tries have b e e n attributed to technical tie-ups with multinational companies ( M N C s ) .
