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The Global Economic Recession and Industrial Structure: Evidence from Four Asian Dragons


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  • Hsieh, Wen-jen

    (Asian Development Bank Institute)

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    The collapse of exports that has attended the current global economic recession threatens the export-led economic growth of the four Asian dragons. To better understand the economic performances and future prospects of the four dragons, this paper first examines the economic structural changes that have taken place in Hong Kong, China; the Republic of Korea; Singapore; and Taipei,China, as well as the gradual shifting of the sources of economic growth away from the manufacturing sector and toward the service sector. Following this, a panel data set for the four dragons for the period 1995–2008 is constructed and a fixed-effects model applied to the data.

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    Bibliographic Info

    Paper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 315.

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    Length: 31 pages
    Date of creation: 25 Oct 2011
    Date of revision:
    Handle: RePEc:ris:adbiwp:0315

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    Keywords: global economic recession; asian dragons; new service development; industrial structure;

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    1. J. Steven Landefeld & Eugene P. Seskin & Barbara M. Fraumeni, 2008. "Taking the Pulse of the Economy: Measuring GDP," Journal of Economic Perspectives, American Economic Association, vol. 22(2), pages 193-216, Spring.
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    5. Edvardsson, Bo, 1997. "Quality in new service development: Key concepts and a frame of reference," International Journal of Production Economics, Elsevier, vol. 52(1-2), pages 31-46, October.
    6. Bihong Huang, 2008. "International Dependency and Economic Fluctuations in East Asian NIEs," Global Economic Review, Taylor & Francis Journals, vol. 37(4), pages 497-506.
    7. Keith Brook, 2009. "Performance and employment characteristics of the UK service industries, 1990–2008," Economic and Labour Market Review, Palgrave Macmillan, vol. 3(6), pages 39-50, June.
    8. Johansson, Pontus & Olhager, Jan, 2004. "Industrial service profiling: Matching service offerings and processes," International Journal of Production Economics, Elsevier, vol. 89(3), pages 309-320, June.
    9. Ingo Borchert & Aaditya Mattoo, 2009. "The Crisis Resilience of Services Trade," World Bank Other Operational Studies 11123, The World Bank.
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