The three Mini Dragons: Economic development in Thailand,Malaysia, and Indonesia

The rapid pace of economic growth in Thailand, Malaysia, and Indonesia indicates that all three ASEAN countries are quickly becoming Newly Industrialized Economies (NIEs). Yet a close comparison of the three leads the author to conclude that there are dissimilarities in their economic development resulting from each country's unique social and economic conditions. Masato Hayashida was a senior economist in the Economic Research Division at The Mitsubishi Bank before being seconded to IIPS as a senior research fellow.