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The term East Asian Miracle was coined by the World Bank for the unusual growth in terms of GDP experienced by the High Performing Asian Economies between 1965 and 1990. It was first used by the World Bank as the title for its comprehensive report about this phenomenon.[1] At that time it was not clear what caused this unprecedented growth. Hence the growth was thought of as a miracle.
Sources of growth
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References
- ^ World Bank, 1993: World Bank, The East Asian Miracle: Economic Growth and Public Policy