Law and Development in East and South-East Asia

During the 1980s and 1990s Asian 'developmental states' attracted much attention in political science and economics literature, but the role of law in the economic development was neglected. It was only after the Asian crisis of 1997 that many analysts began to focus on a lack of regulation and transparency as a major factor triggering the crisis. As a result, international financial institutions now tend to make further financial support for Asian economies dependent on improvements of the legal framework in which businesses operate. The crucial questions now are how successful the current reforms will be, and which features of the Asian approach to commercial law will be resistant to reform pressures. This book examines the prospects for commercial law reform in Asia. Japan and Singapore, as frequently cited role models for Asian developmentalism, receive particular attention. Development related business laws in countries such as China, Korea, Indonesia, Malaysia, Vietnam and the Philippines are also examined. The book includes chapters on individual fields of commercial law such as intellectual property law, financial market regulation and labour law as well as chapters that explain the socio-legal background of Asian legal development. All are placed into the industrial policy framework of the countries concerned.