East Asian Growth Before and After the Crisis
AbstractThis paper surveys the literature on the growth performance of the east Asian economies in recent decades, evaluates the sustainability of that performance, and provides a preliminary assessment of their long-term growth prospects in the aftermath of the current crisis. It highlights three special aspects of east Asian growth: unusually high factor accumulation, a favorable demographic transition, and the impact of rapid growth on financial and other institutions. The paper argues that there are downside risks to the east Asian “developmental state” model, despite its favorable attributes, and that an alternative model may become more attractive as these economies mature.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 98/137.
Date of creation: 01 Sep 1998
Date of revision:
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Postal: International Monetary Fund, Washington, DC USA
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Other versions of this item:
- N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
- N25 - Economic History - - Financial Markets and Institutions - - - Asia including Middle East
- N35 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Asia including Middle East
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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