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Technological Catch-up and Economic Growth in East Asia and the Pacific

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  • Drysdale, Peter
  • Huang, Yiping

Abstract

This paper examines factors contributing to the faster economic growth in East Asia relative to other APEC economies. A simple but popular model is applied using purchasing power parity income estimates. Contrary to the view recently advanced by Paul Krugman (1994), the authors find that productivity improvement was an important factor contributing to the rapid East Asian growth. For many East Asian economies such as Japan, Korea, Taiwan, and Hong Kong, a large proportion of higher than average growth is attributable to technological progress. Copyright 1997 by The Economic Society of Australia.

Suggested Citation

  • Drysdale, Peter & Huang, Yiping, 1997. "Technological Catch-up and Economic Growth in East Asia and the Pacific," The Economic Record, The Economic Society of Australia, vol. 73(222), pages 201-211, September.
  • Handle: RePEc:bla:ecorec:v:73:y:1997:i:222:p:201-11
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    Cited by:

    1. Anaman, Kwabena A., 2004. "Determinants of economic growth in Brunei Darussalam," Journal of Asian Economics, Elsevier, vol. 15(4), pages 777-796, August.
    2. van der Eng, Pierre, 2010. "The sources of long-term economic growth in Indonesia, 1880-2008," Explorations in Economic History, Elsevier, vol. 47(3), pages 294-309, July.
    3. Chang, Ching-Cheng & Luh, Yir-Hueih, 1999. "Efficiency change and growth in productivity: the Asian growth experience," Journal of Asian Economics, Elsevier, vol. 10(4), pages 551-570.
    4. Chia-Hung Sun, 2005. "Productivity growth in East Asian manufacturing: a fading miracle or measurement problem?," Journal of International Development, John Wiley & Sons, Ltd., vol. 17(1), pages 1-19.
    5. Yir-Hueih Luh & Kuo-Chen Shih, 2006. "International spillovers and East Asian growth: the experience of Japan, Korea and Taiwan," Applied Economics Letters, Taylor & Francis Journals, vol. 13(11), pages 745-750.
    6. Luke Gower, 1998. "What Has Become of the Japanese Model?," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 5(1), pages 61-72.
    7. Adetutu, Morakinyo O. & Glass, Anthony J. & Weyman-Jones, Thomas G., 2016. "Decomposing energy demand across BRIIC countries," Energy Economics, Elsevier, vol. 54(C), pages 396-404.
    8. Pierre van der Eng, 2008. "The sources of long-term economic growth in Indonesia, 1880-2007," ANU Working Papers in Economics and Econometrics 2008-499, Australian National University, College of Business and Economics, School of Economics.
    9. Jakob B. Madsen* & Md. Rabiul Islam, 2012. "The Anatomy of the Asian Take-off," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 4(2), pages 1-24, July.
    10. Chia-hung Sun, 2004. "Market Imperfection and Productivity Growth—Alternative Estimates for Taiwan," Journal of Productivity Analysis, Springer, vol. 22(1), pages 5-27, July.
    11. Aggarwal, Raj, 1999. "Assessing the recent Asian economic crises: the role of virtuous and vicious cycles," Journal of World Business, Elsevier, vol. 34(4), pages 392-408, January.
    12. Hu, Jin-Li & Kao, Chih-Hung, 2007. "Efficient energy-saving targets for APEC economies," Energy Policy, Elsevier, vol. 35(1), pages 373-382, January.
    13. Felloni, Fabrizio & Gilbert, John & Wahl, Thomas I. & Wandschneider, Philip, 2003. "Trade policy, biotechnology and grain self-sufficiency in China," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 28(3), May.
    14. Yang, Chih-Hai, 2006. "Is innovation the story of Taiwan's economic growth?," Journal of Asian Economics, Elsevier, vol. 17(5), pages 867-878, November.
    15. Francisco Garcia-Blanch, 2001. "An Empirical Inquiry into the Nature of South Korean Economic Growth," CID Working Papers 74A, Center for International Development at Harvard University.
    16. Hailin Liao & Xiaohui Liu & Mark Holmes & Tom Weyman-Jones, 2009. "The Impact Of Foreign R&D On Total Factor Productivity In The East Asian Manufacturing Industry," Manchester School, University of Manchester, vol. 77(2), pages 244-270, March.
    17. repec:eee:ecanpo:v:55:y:2017:i:c:p:132-146 is not listed on IDEAS

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