March 28, 2024

Flying Geese model

  • Morgan Stanley and Nomura in their recent assessments said that this decadal growth will be led by countries like India and from southeast Asia (Indonesia etc.).
  • They reported that Asia’s flying geese model is back in operation.

ABOUT FLYING GEESE MODEL

  • It is a theory of industrial development in latecomer economies, was developed in the 1930s by Japanese economist Kaname Akamatsu.
  • It intends to explain the catching-up process of industrialization of latecomer economies, especially Japan and the East Asian Economies.
  • This approach saw the US (on global scale) and Japan (in Asia) as the lead geese, followed by Asian emerging economies, resulting in their economic success.
  • The regional development as per this model presupposes the existence of hierarchy, with a dominant economy acting as the growth centre and followed by other developing economies.
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