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Are East Asian Economies Dynamically Efficient?

Author

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  • Kookshin Ahn

    (Department of Economics, Chung-Ang University)

Abstract

This paper investigates dynamic efficiency of major East Asian economies based on the criterion of Abel, Mankiw, Summers and Zeckhauser(1989). It shows that both Korea and Taiwan are not necessarily dynamically efficient since they do not satisfy the sufficient condition of dynamic efficiency. It also shows that, contrary to the claim by Abel, Mankiw, Summers and Zeckhauser(1989), Japan also does not satisfy the sufficient condition of dynamic efficiency. Possible causes and implications of these empirical results are briefly reviewed.

Suggested Citation

  • Kookshin Ahn, 2003. "Are East Asian Economies Dynamically Efficient?," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 28(1), pages 101-110, June.
    • Handle: RePEc:jed:journl:v:28:y:2003:i:1:p:101-110
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    References listed on IDEAS

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    1. Andrew B. Abel & N. Gregory Mankiw & Lawrence H. Summers & Richard J. Zeckhauser, 1989. "Assessing Dynamic Efficiency: Theory and Evidence," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 56(1), pages 1-19.
    2. Christensen, Laurits R, 1971. "Entrepreneurial Income: How Does It Measure Up?," American Economic Review, American Economic Association, vol. 61(4), pages 575-585, September.
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    Cited by:

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    2. Creina Day & Garth Day, 2007. "Fiscal Reform, Growth and Current Account Dynamics," ANU Working Papers in Economics and Econometrics 2007-485, Australian National University, College of Business and Economics, School of Economics.
    3. Marion Davin & Mouez Fodha & Thomas Seegmuller, 2023. "Pollution in a globalized world: Are debt transfers among countries a solution?," International Journal of Economic Theory, The International Society for Economic Theory, vol. 19(1), pages 21-38, March.
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    6. Kevin Luo & Tomoko Kinugasa & Kai Kajitani, 2018. "Dynamic efficiency in world economy," Discussion Papers 1801, Graduate School of Economics, Kobe University.

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    More about this item

    Keywords

    Dynamic Efficiency; East Asian Economies; Proprietor¡¯s Income;
    All these keywords.

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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