Advanced Search
MyIDEAS: Login to save this paper or follow this series

A New View on the Source of East Asian Economic Growth: What Made Capital Stock Accumulation So Remarkable in East Asia?"

Contents:

Author Info

  • Shin-ichi Fukuda

    (Faculty of Economics, University of Tokyo.)

  • Hideki Toya

    (Nagoya City University)

Abstract

Replacing investment shares in GDP by growth rates of capital stock, this paper first shows that cross-country regressions can explain East Asian high rates of economic growth remarkable well. The result is observationally consistent with recent growth accounting studies which proposed that rapid expansion of the East Asian economies relied principally on rapid expansion of capital stock. However, we also find that growth rates of capital stock and shares of investment had different effects on rapid expansion of the East Asian economies. In particular, we show that high rates of investment were not unusual but that low capital-output ratios were quite unusual in the East Asian economies. This empirical finding is noteworthy because it indicates that the pattern of East Asian economic growth was not necessarily extensive. We discuss that the East Asian economies have had a unique development process because they had labor-intensive industry structure at the early stage of industrialization.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.cirje.e.u-tokyo.ac.jp/research/dp/98/cf36/contents.htm
Download Restriction: no

Bibliographic Info

Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-36.

as in new window
Length: 30 pages
Date of creation: Dec 1998
Date of revision:
Handle: RePEc:tky:fseres:98cf36

Contact details of provider:
Postal: Hongo 7-3-1, Bunkyo-ku, Tokyo 113-0033
Phone: +81-3-5841-5644
Fax: +81-3-5841-8294
Email:
Web page: http://www.cirje.e.u-tokyo.ac.jp/index.html
More information through EDIRC

Related research

Keywords:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:tky:fseres:98cf36. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CIRJE administrative office).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.