Chapter Seven analyzes the findings of the empirical investigations of Hong Kong, Taiwan and Singapore. The critical finding is that domestically-rooted norms are central to states’ distinct learning processes, and therefore norms are the glue that binds the domestic context with international diffusion, and rationality with constructivism. The impact of norms was found to be so strong that, counter to diffusion literature’s hypothesis about specific models leading to greater degrees of convergence, even when policymakers learned about a highly-specific VC policy item, they systematically initiated further studying and conceptualized how a different path – that better fit with their logics of appropriateness – could lead them to the same outcome. The chapter discusses why the three norms investigated – (1) interventionist orientation, (2) private sector financing and (3) local versus international firm preferences – shaped VC policy choices the way that they did in each case.
GATS: The Way Forward After Hong Kong