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date: 13 June 2021

Abstract and Keywords

This article discusses the East Asian model of capitalism, contrasting it with the textbook version of capitalism, which in most cases is based on an Anglo–American model, and illustrates that the latter is hardly universal. In fact, the latter can be a minority model. It discusses the East Asian model from four perspectives that must be at the center of any such discussion. They are business groups, corporate ownership and management, interfirm relationships, and laissez-faire versus industrial policy.

Keywords: East Asia, capitalist system, business groups, corporate ownership and management, interfirm relationships, laissez-faire, industrial policy

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