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What is the Long Run Growth Rate of the East Asian Tigers?

Author

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  • B. Bhaskara Rao
  • Artur Tamazian
  • Rup Singh

Abstract

New panel data estimates for the four East Asian Tigers show that the contribution of total factor productivity (TFP) to growth is much higher than past estimates. An extended production function with learning by doing implies that TFP is about 3.5% and these countries will grow at this rate in the long run.

Suggested Citation

  • B. Bhaskara Rao & Artur Tamazian & Rup Singh, 2010. "What is the Long Run Growth Rate of the East Asian Tigers?," EERI Research Paper Series EERI_RP_2010_04, Economics and Econometrics Research Institute (EERI), Brussels.
    • Handle: RePEc:eei:rpaper:eeri_rp_2010_04
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    File URL: http://www.eeri.eu/documents/wp/EERI_RP_2010_04.pdf
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    References listed on IDEAS

    as
    1. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
    2. Jong-il Kim, 2002. "Total Factor Productivity Growth in East Asia: Implications for the Future," Asian Economic Papers, MIT Press, vol. 1(2), pages 50-70.
    3. Barry P. Bosworth & Susan M. Collins, 2003. "The Empirics of Growth: An Update," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 113-206.
    4. Rao, B. Bhaskara, 2007. "Estimates of the steady state growth rates for selected Asian countries with an endogenous growth framework," MPRA Paper 2389, University Library of Munich, Germany.
    5. Mr. Michael Sarel, 1995. "Growth in East Asia: What We Can and What We Cannot Infer From it," IMF Working Papers 1995/098, International Monetary Fund.
    6. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
    7. K. J. Arrow, 1971. "The Economic Implications of Learning by Doing," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 11, pages 131-149, Palgrave Macmillan.
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    Cited by:

    1. Sami Ben Mim & Fatma Mabrouk, 2011. "Remittances and economic growth: what channels of transmission? (In French)," Cahiers du GREThA (2007-2019) 2011-28, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    2. Rao, B. Bhaskara & Cooray, Arusha & Hassan, Gazi Mainul, 2011. "Growth effects of education with the extreme bounds analysis: some evidence from Asia," MPRA Paper 32279, University Library of Munich, Germany.
    3. B. Bhaskara Rao & Arusha Cooray, 2012. "How useful is growth literature for policies in the developing countries?," Applied Economics, Taylor & Francis Journals, vol. 44(6), pages 671-681, February.

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    Keywords

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    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations

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