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A decade of debate about the sources of growth in East Asia. How much do we know about why some countries grow faster than others?/Una década de debate sobre las fuentes del crecimiento en el Este Asiático. ¿Cuánto sabemos sobre por qué unos países crecen más rápido que otros?



    (Macroeconomics and Finance Research Division. Economics and Research Department Asian Development Bank. Manila. Philippines)

This survey paper has three objectives. First, it reviews what the profession learnt during the last decade about East Asia’s growth. The publication of the growth accounting studies for East Asia of Alwyn Young and J-I Kim and Lawrence Lau, and Paul Krugman’s popularization of the “zero total factor productivity growth” thesis, led to a very important debate within the profession. The paper demystifi es this literature by pointing out some methodological problems. It is argued that the analysis of growth within the framework of the neoclassical model should be abandoned. Second, the paper discusses the more general question of how much do we truly know about why some countries grow faster than others. A review of the empirical literature leads to the conclusion that we known much less than we would like to. Finally, the paper reviews some of the current work that can provide very useful avenues to understand growth. Este artículo de revisión tiene tres objetivos. En primer lugar, hace una revisión sobre lo que la profesión ha aprendido durante la última década sobre crecimiento en Asia. La publicación de los estudios sobre la contabilidad del crecimiento para el este asiático de Alwyn Young, J-I Kim y Lawrence Lau, así como la popularización que Paul Krugman hizo de éllos bajo la tesis “crecimiento cero de la producitvidad total de los factores” desembocó en un debate muy importante dentro de la profesión. El artículo demistifi ca esta literatura haciendo hincapié en sus problemas metodológicos. El argumento central es que el análisis del crecimiento dentro del esquema neoclásico es muy problemático. En segundo lugar, el artículo evalúa cuánto se sabe realmente sobre por qué unos países crecen más rápido que otros. Una revisión de la literatura empírica lleva a la conclusión de que sabemos bastante menos de lo que nos gustaría. Finalmente, el artículo resume una serie de líneas de trabajo recientes que pueden dar resultados interesantes.

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Article provided by Estudios de Economía Aplicada in its journal Estudios de Economía Aplicada.

Volume (Year): 24 (2006)
Issue (Month): (Abril)
Pages: 181-220

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Handle: RePEc:lrk:eeaart:24_1_5
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  1. Sebnem Kalemli-Ozcan & Laura Alfaro & Selin Sayek & Areendam Chanda, 2002. "FDI and Economic Growth: The Role of Local Financial Markets," Macroeconomics 0212007, EconWPA.
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