Abstract
This essay reviews two sets of books that explore the origins and dynamics of Southeast Asia's growth and economic transformation. One set of books utilizes a structuralist framework and emphasizes the role of the state in creating a (now) powerful capitalist class. The other set of books utilizes an institutionalist framework to explain how new patterns of private/public sector collaboration have resulted in rapid economic growth. The authors point to weaknesses in both approaches and to areas where the two approaches can be fruitfully synthesized. They also offer suggestions for future research.