Japan and the Asian Economies: A "Miracle" in Transition
探讨东亚经济体持续高速增长的现象，并与日本1950年代至1973年的快速增长进行比较，指出当前东亚经济体面临的过热和软着陆挑战与日本三十年前相似。
ONE EAST ASIAN country after another has taken off from a stagnant state to achieve an annual economic growth rate of 10 percent or more. The fact that such high economic growth rates are being sustained, along with observation based on growth convergence regressions that prior economic and social conditions do not seem to have warranted such rapid growth, has led many to call the East Asian growth a miracle. ' However, this is not the first time that an Asian country has grown miraculously fast. From the mid-1950s until 1973, Japan grew at a rate comparable to that of the East Asian economies today. And just as concerns are voiced today that some East Asian economies are overheating and their governments face the difficult task of inducing a " softlanding," a similar concern was heard in Japan three decades ago.