Download or read book East Asian Business Systems in Evolutionary Perspective written by Fu-Lai Tony Yu and published by Nova Publishers. This book was released on 2003 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic studies on East Asia economies in general and Chinese economies are not lacking. However, most studies hitherto adopt the conventional neo-classical economic approach. In particular, the Cobb-Douglas production function and/or theory of comparative advantage are often applied to explain economic growth of an Asian economy. In international business, Dunning's eclectic theory is also widely adopted to understand the pattern of foreign direct investments in East Asian economies. Yet it is generally agreed that the mainstream neo-classical approach has severe drawbacks and limitations. In particular, it does not consider the role of knowledge and uncertainty. Entrepreneurship, which is the true engine of growth, is largely missing in neo-classical economics. This book uses the evolutionary approach to analyse economic and business activities in East Asian economies. Specifically, the book focuses on knowledge and coordination problems and examines the role of entrepreneurship in economic affairs.