This paper presents dual estimates of total factor productivity growth (TFPG) for East Asian countries. While the dual estimates of TFPG for Korea and Hong Kong are similar to the primal estimates, they exceed the primal estimates by 1 percent a year for Taiwan and by more than 2 percent for Singapore. The reason for the large discrepancy for Singapore is because the return to capital has remained constant, despite the high rate of capital accumulation indicated by Singapore's national accounts. This discrepancy is not explained by financial market controls, capital income taxes, risk premium changes, and public investment subsidies. (JEL O11, O16, O47, O53)
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Volume (Year): 92 (2002) Issue (Month): 3 (June) Pages: 502-526 Download reference. The following formats are available: HTML
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Susan M. Collins & Won-Am Park, 1989.
"External Debt and Macroeconomic Performance in South Korea,"
NBER Chapters,
in: Developing Country Debt and Economic Performance, Volume 3: Country Studies - Indonesia, Korea, Philippines, Turkey, pages 151-152
National Bureau of Economic Research, Inc.
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