"This book looks at the economic performance of East Asia in a unified way. The focus is on the common forces, generated by each country's policies, that jointly produced such successful outcomes. The framework used allows us to identify the separate roles of macroeconomic and microeconomic factors, and to understand how they interacted with one another.". "In order to gain a comparative perspective, the same framework is used to examine the somewhat less successful performance of the Indian economy. The basic lesson of the analysis is that it is generally difficult to categorize policies as 'good' or 'bad' per se. Rather, it is the overall institutional context in which policies are implemented that determine their success or failure."--BOOK JACKET.