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Can second-generation endogenous growth models explain the productivity trends and knowledge production in the Asian miracle economies?

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  • James B. Ang
  • Jakob B. Madsen

Abstract

Using data for six Asian miracle economies over the period from 1953 to 2006, this paper examines the extent to which growth has been driven by R&D and tests which second-generation endogenous growth model is most consistent with the data. The results give strong support to Schumpeterian growth theory but only limited support to semi-endogenous growth theory. Furthermore, it is shown that R&D has played a key role for growth in the Asian miracle economies.

Suggested Citation

  • James B. Ang & Jakob B. Madsen, 2010. "Can second-generation endogenous growth models explain the productivity trends and knowledge production in the Asian miracle economies?," CAMA Working Papers 2010-05, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    • Handle: RePEc:een:camaaa:2010-05
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    File URL: https://cama.crawford.anu.edu.au/sites/default/files/publication/cama_crawford_anu_edu_au/2021-06/05_ang_madsen_2010.pdf
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    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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