- Preface and Acknowledgements
- List of Figures
- List of Tables
- China: Authoritarian Capitalism
- Hong Kong: Hybrid Capitalism as Catalyst
- India: From Failed Developmental State Towards Hybrid Market Capitalism
- Indonesia: Oligarchic Capitalism
- Japan: Coordinated Capitalism Between Institutional Change and Structural Inertia
- Laos: Frontier Capitalism
- Malaysia: Personal Capitalism
- The Philippines: Inequality–Trapped Capitalism
- Singapore: Open State-Led Capitalism
- South Korea: Plutocratic State-Led Capitalism Reconfiguring
- Taiwan: Sme-Oriented Capitalism in Transition
- Thailand: Post-Developmentalist Capitalism
- Vietnam: Post-State Capitalism
- Business Groups in Asia: An Institutional Perspective
- Corporate Governance and Business Systems in Asia
- Culture and the Business Systems of Asia
- Employment Relations and Human Resource Management in Asia: Explaining Patterns in Asian Societies
- Financial Systems in Asia: Where Politics Meets Development
- MNEs in Asian Business Systems
- National R&D Systems and Technology Development in Asia
- The Co-evolution of Global Sourcing of Business Support Functions and the Economic Development of Asian Emerging Economies
- Social Capital in Asia: Its Dual Nature and Function
- The Role of the State in Asian Business Systems
- A Survey of Strategic Behaviour and Firm Performance in Asia
- Pictures of the Past: Historical Influences in Contemporary Asian Business Systems
- Beyond Production: Changing Dynamics of Asian Business Groups
- Change and Continuity in East Asian Business Systems
- Asian Business Systems: Implications and Perspectives for Comparative Business Systems and Varieties of Capitalism Research
- Asian Business Systems: Implications for Managerial Practice
Abstract and Keywords
This chapter of the Oxford Handbook of Asian Business Systems presents a synthesis and summary of the preceding chapters. It undertakes an institutional comparison of thirteen major Asian business systems—China, Hong Kong, India, Indonesia, Japan, Laos, Malaysia, the Philippines, Singapore, Korea, Taiwan, Thailand, and Vietnam—with one another and five major Western economies—France, Germany, Sweden, UK, and the USA. We find five major types of Asian business systems: (post-)socialist, advanced city, emerging South-East Asian, advanced North-East Asian, and Japanese. Except Japan, all Asian forms of capitalism are distinct from Western types. We conclude that the Varieties of Capitalism dichotomy is not applicable to Asia; the existing major frameworks do not capture all Asian types of capitalism; and Asian business systems (except Japan) cannot be understood through categories identified in the West. Our analysis further suggests a need to invest in research on social capital, culture, informality, and multiplexity.
Michael A. Witt is a professor of Asian Business and Comparative Management at INSEAD, Singapore, and an Associate in Research at the Reischauer Institute, Harvard University, US.
Gordon Redding is a professor of Asian Business and Comparative Management at INSEAD, Singapore, Professor Emeritus of Management Studies, University of Hong Kong and the Secretary General of the Head Foundation, Singapore.
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