Development strategy of the ‘miracle’ economies of East Asia?

C. R. de Silva, who was “responsible at World Bank headquarters for program development in, and loan negotiations with, several miracle economies of East Asia Region for some 20 years” analyzes Sri Lanka’s fealty to IMF development strategies and compares its performance to those of East Asian countries which “determined that the IMF's prescription based on economic liberalization, privatization, open markets, fiscal discipline, price stability, founded on the utmost confidence in unregulated markets, to lead a poor country's development effort, to the near exclusion of a dominant government role, was destined to fail in a reasonably short time frame.” He concludes that “the carrying out of IMF's policy advice on enhanced indirect taxation and privatization/PPP have already led to social tensions and may lead progressively to civil strife in due course, as recent events down south forecast.”