id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
cord-284578-9opqbu7h	Leung, H.M.	What has luck got to do with economic development? An interpretation of resurgent Asia’s growth experience	2004-05-10		.txt	text/plain	4761	276	63	If the NIE's growth really were freak results from a lucky draw, then poor countries should forget about learning from the Asian examples, but instead try to improve their fortune through other means. The Asian NIE's high degree of volatility was a consequence of their intensive investment policy (see Section 3); their luck and fortune are spin-offs from their toil and dexterity. Our recommendation to poor countries is to formulate good investment and growth policies now, as luck will take the side of those who strive. Second, for the four Asian NIEs, the relationship between growth rate and volatility is positive and statistically highly significant. The smaller the country, the higher the risk from investment indivisibility, and hence the more volatile is its economic growth. Small country-size and investment indivisibility led Asian NIEs to targeted investment policies, which brought fast growth as well as a high degree of fluctuations.	./cache/cord-284578-9opqbu7h.txt	./txt/cord-284578-9opqbu7h.txt