structural change which are described by the absolute share change value in each industry, all countries, including ASEAN countries, show substantial change that is two to four times greater than Japan's. We must consider the characteristics when Japan entered a period of relative stability in the eighties. However, I think it is fair to say that it is a miraculous structural change which corresponds to the miraculous growth of the industrial structure in the Asian region, because it represents a greater change than that experienced by Japan at its peak.
In comparison to those who converted from agricultural to manufacturing bases, as regards the third industrial category which is the service economy, although Korea and Thailand had reached about 50% by the nineties, the ASEAN countries with the exception of Hong Kong, Singapore and Japan, had a comparatively low share of service industries (around 30-40%). (See Table 1)
2. The Increase in the Manufacturing Industry
Now we will look at the change in the industrial structure within the manufacturing industry, by considering the GDP composition ratio. The industrial development strategy of most developing countries, not only those in the Asian region, was basically the conversion from an import driven strategy in the sixties to an export driven strategy in the seventies. The material industry was the central important industry, and reacted to the needs of the initial stages of economic development including the completion of the infra-structure, but the scale of domestic market was relatively small and international competition was weak. Additionally, employment capacity is small as it is capital intensive, and the industrial strategy had to be changed for those reasons. An export industry strategy was adopted because of its international competitive edge, its employment capacity is greater, and technological transfer accompanied with capital investment from developed countries was comparatively easy through effective use of the plentiful and cheap labor force that existed in these countries.
