Estimates of the Steady State Growth Rates for Selected Asian Countries with an Extended Solow Model
AbstractThis paper develops an extended version of the Solow (1956) growth model in which total factor productivity is assumed a function of two important externalities viz., learning by doing and openness to trade. Using this framework we show that these externalities have played an important role to improve the long run growth rats of six Asian countries viz., Singapore, Malaysia, Thailand, Hong Kong, Korea and the Philippines. A few broad policies to improve their long run growth rates are suggested.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 9724.
Date of creation: 25 Jul 2008
Date of revision: 01 Jul 2008
Solow Growth Model; Endogenous Growth; Learning by Doing; Trade Openness; Steady State Growth Rate; Newly Developing Asian Countries;
Other versions of this item:
- Rao, B. Bhaskara, 2010. "Estimates of the steady state growth rates for selected Asian countries with an extended Solow model," Economic Modelling, Elsevier, vol. 27(1), pages 46-53, January.
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
- C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-07-30 (All new papers)
- NEP-DEV-2008-07-30 (Development)
- NEP-SEA-2008-07-30 (South East Asia)
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