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Confucianism and the East Asian Miracle

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  • Ming-Yih Liang

Abstract

We examine two behavioral traits essential to Confucianism, and put forward hypotheses as to whether these behavioral traits impede or are conducive to "leading" or "follower" mode growth. A dynamic leader-follower general equilibrium model with appropriately specified "Confucian" parameters is shown to generate results that correspond to some of the main features of East Asian economies: their miracle growths, subsequent slowdowns, trade surpluses, and persistent accumulations of foreign exchange reserves. We calibrate the model to assess the quantitative importance of these cultural effects and examine their implications for future evolution of these economies. (JEL E23, O17, O41, O47, P24, Z12, Z13)

Suggested Citation

  • Ming-Yih Liang, 2010. "Confucianism and the East Asian Miracle," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(3), pages 206-234, July.
  • Handle: RePEc:aea:aejmac:v:2:y:2010:i:3:p:206-34 Note: DOI: 10.1257/mac.2.3.206
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    Cited by:

    1. Liu, Elaine M. & Meng, Juanjuan & Wang, Joseph Tao-yi, 2014. "Confucianism and preferences: Evidence from lab experiments in Taiwan and China," Journal of Economic Behavior & Organization, Elsevier, pages 106-122.
    2. Amavilah, Voxi Heinrich, 2014. "Sir W. Arthur Lewis and the Africans: Overlooked Economic Growth Lessons," MPRA Paper 57126, University Library of Munich, Germany.
    3. Voxi Heinrich AMAVILAH, 2016. "Social Obstacles to Technology, Technological Change, and the Economic Growth of African Countries: Some Anecdotal Evidence from Economic History," Turkish Economic Review, KSP Journals, vol. 3(2), pages 320-340, June.

    More about this item

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • P24 - Economic Systems - - Socialist Systems and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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