Some Small Countries Do It Better

Countries worldwide are struggling to imitate the industrial prowess of the East Asian pacesetters. Building a portfolio of tradable goods and services and steadily raising the level of investment in these activities, has generally defied the best policy efforts. Hence the search is on for growth recipes not so bound to investment, to manufacturing activities, and to the export of manufactured products. In casting around for such recipes validated by demonstrated results, the experience of economies which have relied more on other drivers of growth is highly attractive.