Contemporary industrial hubs evolved in East Asia after the 1950s and have been associated with the industrial catch-up of the East Asian economies and their industrial policies. This chapter has three main objectives: to depict the path of hubs development in these pioneering economies and provide a synthesis of the East Asian experience; to extract relevant lessons for policymakers and practitioners; and to provide a perspective on how industrial hubs can synergize industrialization and technological catch-up. Although there are commonalities, experiences have been uneven across these economies with different stages of development. The experiences of the first-generation industrial hubs, namely, Taiwan (China), South Korea, and Singapore are reviewed, followed by China as the second generation. A synthesis, key observations, and conclusions are reviewed. The chapter will complement the other chapters under Part IV through synthesis and lessons, while it complements the analytical perspectives under Parts I and II of the Handbook, by building on arguments and conceptual perspectives.
Pax Americana-led macro-clustering and flying-geese-style catch-up in East Asia: mechanisms of regionalized endogenous growth