Growth Accounting, Growth Theory and the East Asian Miracle
This paper develops a method for interpreting growth accounting studies in terms of the neoclassical growth model. In particular it shows that the growth accounting contribution of capital reflects the distance of the economy form its steady state income level. The method is applied to studies of the East Asian economies by Young (1995) and Collins and Bosworth (1996). Contrary to the usual interpretation of these data, it is shown that the data support the argument made by King and Rebelo (1993).
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|Date of creation:||1998|
|Date of revision:|
|Contact details of provider:|| Postal: THE UNIVERSITY OF NEW SOUTH WALES, SCHOOL OF ECONOMICS, P.O.B. 1 KENSINGTON, NEW SOUTH WALES 2033 AUSTRALIA.|
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