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East Asian Growth in View of West European Experience

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  • Henry Wan

Abstract

This paper extends Wan (2004) and regards the East Asian economies as success cases for catching-up in a globalized environment, where America has succeeded Britain as the leader in technology. Statistics show that over the last 60 years, West European economies, within the Western societies and East Asian economies, among the Non-Western societies are the only two groups which have generally managed to reduce their per capita real GDP gap versus America. In contrast, most of the other economies have lost ground. This validates the thesis of Kuznets (1982) on development, where trade and investment form channels of technology transmission. We believe that the ubiquitous, recalcitrant steady-state gap vs. the US is a litmus test for explaining growth and development. Our model of interdependent growth explains both the observation of Lucas that “the mid-income countries grow the fastest, next the high-income countries, with the low-income countries growing the slowest” and the twin-peak distribution found by Quah.

Suggested Citation

  • Henry Wan, 2004. "East Asian Growth in View of West European Experience," DEGIT Conference Papers c009_010, DEGIT, Dynamics, Economic Growth, and International Trade.
    • Handle: RePEc:deg:conpap:c009_010
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    File URL: http://degit.sam.sdu.dk/papers/degit_09/C009_010.pdf
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Solow, Robert M., 2000. "Growth Theory: An Exposition," OUP Catalogue, Oxford University Press, edition 2, number 9780195109030.
    3. Coe, David T & Helpman, Elhanan & Hoffmaister, Alexander W, 1997. "North-South R&D Spillovers," Economic Journal, Royal Economic Society, vol. 107(440), pages 134-149, January.
    4. Lau, Man-lui & Wan, Henry Jr., 1994. "On the mechanism of catching up," European Economic Review, Elsevier, vol. 38(3-4), pages 952-963, April.
    5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. Rockmore, Marc & Zhang, Xiaobo, 2006. "Moving up and moving down: a new way of examining country growth dynamics," DSGD discussion papers 34, International Food Policy Research Institute (IFPRI).

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