Are East Asian Economies Dynamically Efficient?
AbstractThis paper investigates dynamic efficiency of major East Asian economies based on the criterion of Abel, Mankiw, Summers and Zeckhauser(1989). It shows that both Korea and Taiwan are not necessarily dynamically efficient since they do not satisfy the sufficient condition of dynamic efficiency. It also shows that, contrary to the claim by Abel, Mankiw, Summers and Zeckhauser(1989), Japan also does not satisfy the sufficient condition of dynamic efficiency. Possible causes and implications of these empirical results are briefly reviewed.
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Bibliographic InfoArticle provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.
Volume (Year): 28 (2003)
Issue (Month): 1 (June)
Dynamic Efficiency; East Asian Economies; Proprietor¡¯s Income;
Find related papers by JEL classification:
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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