By emphasizing uncertainty, this paper highlights two important roles of government in the economic development of the Asian Newly Industrializing Economies, namely, coordination and entrepreneurship. Coordination can be achieved by adopting policies that reduce market uncertainty, facilitate investment decision, social learning and diffusion of technologies from overseas. Entrepreneurship refers to the ability of a state to be alert to change, identify global opportunities, and define productivity and competitiveness of an economy. The Austrian notions of entrepreneurship and coordination thus enter the study of the public sector to re-interpret the role played by government in the economic development of the East Asian economies.
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