ABSTRACT
The Asian "model" of the developmental state with its goals and strategies worked well for several years mainly for its contribution toward raising economic growth in the countries where it evolved and elsewhere where it was experimented with. The performance of political institutions that directly or indirectly have relevance to managing development is generally guided by historical factors, the attributes of the political culture, the operational styles of key political personalities, and the interface between the institutions and the wider society. Political and administrative institutions adhering to democratic norms and espousing the moral obligations of the state are more attuned to working coherently within a constitutional-legal framework and generating the modalities of the development process and accomplish the goals set forth by national governments and global bodies. The democratization of politics also has a moderating effect on the market and its principal actors—the large firms.
