On Wednesday, May 7, 4:30-6:30pm in Green Library at Stanford, Dr. Lant Prichett of the Kennedy School of Government at Harvard University will deliver the Hsieh Memorial Lecture. Like the Liang Memorial Address given at Stanford last week, this annual lecture honors a former governor of the Central Bank of Taiwan, Dr. Sam-chung Hsieh (謝森中), who held that position from 1989-1994. The official event page can be found here. The abstract for Dr. Prichett's talk is below.
The Varieties of the 'Deals Capitalism' Experience: The Past and Future of Asian Growth.
Economic prosperity has come to be associated with good institutions--open markets, electoral democracy, capable bureaucracies. However, it is hard to take that narrative to East Asia where either historically (e.g. Korea in the 1960s) and today (e.g. China, Vietnam) the successful episodes hardly fit the model of open markets supported by "rule of law." Pritchett emphasizes the notion of "deals capitalism" in which proprietor rights grounded in person and organization specific deals dominate neutrally enforced rules of property rights.
Economic prosperity has come to be associated with good institutions--open markets, electoral democracy, capable bureaucracies. However, it is hard to take that narrative to East Asia where either historically (e.g. Korea in the 1960s) and today (e.g. China, Vietnam) the successful episodes hardly fit the model of open markets supported by "rule of law." Pritchett emphasizes the notion of "deals capitalism" in which proprietor rights grounded in person and organization specific deals dominate neutrally enforced rules of property rights.
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