The document discusses the economic development of the four Asian Tigers - South Korea, Hong Kong, Singapore, and Taiwan. It outlines that in the 1960s-1970s, these economies experienced rapid industrialization and high growth rates of over 7% annually by focusing on exports, increasing education levels, high savings rates, and receptive political systems. Specifically, it notes that Hong Kong grew its GDP 180-fold through services and exports, Singapore attracted foreign investment and focused on exports and refining imports, South Korea emphasized trade and large conglomerates, and Taiwan reformed through a 19-point program and US aid. The success of the Asian Tigers served as models for other developing economies in the region.

1. Economic development of Asian tigers
Professor: Presented by:
Maja Luković Sandra Luković 2013/500
Milan Milanović Module: Marketing
Date: 15.05.2015

2. Economic development
• Economic development ideally refers to the
sustained, concerted actions of communities and
policymakers that improves the standard of living
and economic health of a specific locality.
• It is an increase in living conditions, improvement of
the citizens self-esteem needs and free and a just
society

3. • Economic development involves of human capital,
increasing the literacy ratio, improve important
infrastructure, improvement of health and safety and
others areas that aims at increasing the general
welfare of the citizens
• big difference between economic development and
economic growth

4. Highly developed economies since 1970s
• South Korea
• Hong Kong
• Singapore
• Taiwan

5. What are the four Asian tigers/dragons
1. The term Four Asian Tigers or East Asian Tigers
2. Maintaining high growth rates and repaid
industrialization
3. Attention has increasingly shifted to other Asian
economies
4. The four Tigers share a range of characteristics whit
other Asian economies
5. Key differences include initial levels of education
and physical access to world markets

6. • All four territories had a strong degree of Chinese influence,
with most having a large ethnic Chinese community
• During the 1960's they had an abundance of cheap labor
• They had non-democratic and relatively authoritarian
political systems during the early years
• They focused their development drive on exports to richer
industrialized nations rather than focusing on import
substitution, which meant that they built up trade
surpluses with the industrialized countries.

8. Reasons to Asian Miracles
• Focus on increasing exports
• High growth rates (excess 7 percent per year)
• Rapid industrialization
• Education of population
• High saving rates
• Small sized with small population
• Little or no natural resources
• Same Culture background (Confucianism)
• Affected by Western countries
• Specialization in areas
• Skilled and cheap workforce
• Stable political environment
• Market economies / trade gateways

9. Hong Kong
• Rapid industrialization driven by exports
• Low taxation and free trade
• Service-based economy in the 1980s
• GDP grew 180 times (1961~1997)
• largest re-export center

10. Singapore
• Foreign direct investment and a state-led drive
• One of the least corrupt countries
• Skilled workforce
• Depends heavily on exports and refining imported
goods
• Tourism (medical tourism)

11. South Korea
• Heavily dependent on international trade
• Outward-looking strategy in early 1960s
• Government initiatives
• Huge national conglomerates

13. Taiwan
• 19-point program of Economic and Financial Reform
• Help of USAID
• Liberalized market controls

14. Conclusion
• Hong Kong and Singapore
have become world-leading
international financial
centres, whereas South
Korea and Taiwan are world
leaders in manufacturing
information technology
• Their economic success
stories have served as role
models for many
developing countries,
especially the Tiger Cub
Economies i.e. Indonesia,
Malaysia, Thailand and the
Philippines

15. Bibliography/References
• https://finansijskoposlovanje.files.wordpress.com/20
13/10/azijski-tigrovi-kao-model-razvoja-nacionalne-
ekonomije.pdf
• http://www.whatiseconomics.org/economic-
development
• http://en.wikipedia.org/wiki/Four_Asian_Tigers

16. Thank you for attention…