Experiences learned from the East Asian development model:
1. In relations to development plans, the appropriate combination of the following three factors is a condition for promoting sustained economic growth: stable macro-economic management; market prices, including interest rates, centered on economic and industrial policies that fully utilize incentive system; and establishment of physical and institutional infrastructures and human resources.
2. In relation to development models, it is necessary to select a combination of models appropriate to the economic and social systems and history of each country with differing levels and phases of development, including the coordination of comprehensive model approaches and micro-level model analysis.
3. In relation to development assistance strategies, it is essential to ensure the effectiveness of policy dialogue and conditionalities by continuously assessing economic rationality and the political and social costs in the hope of continuously reforming policies.
4. In relation to the aid approach to development management, it is important that development management be considered not only from the viewpoint of administrative improvements through institutional and organizational development within the public sector but also from practical use of the market mechanism and managerial improvements in the private sector.
Source: Kazumi Goto (1997). The Search of Strategic Management Capability: Lessions from “East Asian Miracle”, in Toru Yanagihara and Susumu Sambommatsu (eds.) East Asian Development Experience: Economic System Approach and Its Applicability, p.46 (pp.36-51)