ABSTRACT
This chapter aims to compare the policies arid economic performance of newly industrializing countries (NIC) in the Far East and Latin America. Differences in economic performance increased further in the period of the debt crisis. The Far Eastern NICs experienced increases in per capita incomes by one-third to one-half. In turn, apart from small gains in Brazil, incomes per head fell in the Latin American NICs. Various factors may explain differences in growth performance. They include differences in domestic saving ratios and investment efficiency, as well as the changing relative importance of exports. Data on the share of manufactured exports are affected by the availability of natural resources, in particular, copper in Chile. At the same time, interest attaches to per capita manufactured exports that provide an indication of a country's success in these export products. The manufacture of producer and consumer durables requires the existence of a sophisticated industrial structure to provide parts, components, and accessories made to precision.
