What strategies did the East Asian Tigers employ to stimulate economic growth ?

Increase in the production of goods and services is referred to as economic growth. It can be measured in nominal and real terms. GDP, GNP and real GDP are indicators of economic growth.

a) These four nations i.e. Hong Kong, Singapore, South Korea and Taiwan save approximately one-third of their GDP, which is the highest in the world. These savings then in turn are again ploughed back into the economy in the form of infrastructure development and development of human capital also. This leads to further economic growth.

b) The four countries followed different approaches accordign to the needs of their economu. Free trade was promoted in Singapore and Hong Kong. Taiwan and South Korea adopted hybrid regimes to suit their export business.