(DP 1989-13) Economic Development of ASEAN Countries and their Prospects for NIC Status

The paper attempts, first, to make an overview of the economic development of Indonesia, Malaysia, the Philippines, and Thailand in the postwar period (especially since the 1960’s) from both macro and industry levels and, then, to investigate their prospects of attaining the status of NICs (Newly Industrializing Countries) in the near future. The latter topic discussed in the light of the concepts of NICs employed by OECD and B. Balassa around 1980. Tables 6 and 7 provide the corresponding data which are comparable across countries over time.