The study of miracles, particularly of the East Asian variety, is today a veritable growth industry. Most developing country policy makers, if not all, would like to know the secret, and emulate the success. The question remains - is East Asian success really a mystery and can India be the next miracle?
Determinants of growth, use of exchange rate, particularly Chinese exchange rate policy. Side products – explain acceleration in Indian growth in the eighties, the need for a new Plaza accord (a different yen, Chinese yuan).
