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Growth in East Asia; What We Can and What We Cannot Infer From it

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  • Michael Sarel

Abstract

This paper examines the different arguments raised by the studies that addressed the East Asian growth experience. The original arguments presented in this paper are all on the negative side, highlighting problems associated with some of the possible explanations for the East Asian miracle. The paper concentrates mainly on four dimensions of the debate about the East Asian growth experience: (i) The nature of economic growth intensive or extensive?; (ii) The role of public policy and of selective interventions; (iii) The role of high investment rates and a strong export orientation as possible engines of growth; and (iv) The importance of the initial conditions and their relevance for policy.

Suggested Citation

  • Michael Sarel, 1995. "Growth in East Asia; What We Can and What We Cannot Infer From it," IMF Working Papers 95/98, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:95/98
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    Cited by:

    1. Rao, B. Bhaskara, 2010. "Estimates of the steady state growth rates for selected Asian countries with an extended Solow model," Economic Modelling, Elsevier, vol. 27(1), pages 46-53, January.
    2. Wu, Yanrui, 2000. "Is China's economic growth sustainable? A productivity analysis," China Economic Review, Elsevier, vol. 11(3), pages 278-296.
    3. Ramkishen Rajan, 2010. "The Currency and Financial Crisis in Southeast Asia: A Case of 'Sudden Death' or Death Foretold'?," Working Papers id:2583, eSocialSciences.
    4. Risti Permani, 2009. "The Role of Education in Economic Growth in East Asia: a survey," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 23(1), pages 1-20, May.
    5. Chia-Hung Sun, 2007. "Economic integration, efficiency change and technological progress," Applied Economics, Taylor & Francis Journals, vol. 39(5), pages 653-662.
    6. 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.
    7. Jean-Marc Germain & Stéphanie Guichard, 1998. "L'Asie du Sud-Est : quelles perspectives de croissance à moyen terme ?," Économie et Statistique, Programme National Persée, vol. 311(1), pages 3-36.
    8. Timmer, Marcel & Ark, Bart van, 2000. "Capital formation and productivity growth in South Korea and Taiwan: realising the catch-up potential in a world diminishing returns," CCSO Working Papers 200003, University of Groningen, CCSO Centre for Economic Research.
    9. Jeffrey A. Frankel & David Romer & Teresa Cyrus, 1995. "Trade and growth in East Asian countries: cause and effect?," Pacific Basin Working Paper Series 95-03, Federal Reserve Bank of San Francisco.
    10. Diaz-Bautista, Alejandro, 2002. "The role of telecommunications infrastructure and human capital: Mexico´s economic growth and convergence," ERSA conference papers ersa02p102, European Regional Science Association.
    11. repec:eee:eneeco:v:66:y:2017:i:c:p:17-26 is not listed on IDEAS
    12. Chia-Hung Sun, 2006. "Imperfect Competition, Economic Miracle, and Manufacturing Productivity Growth: Empirical Evidence from Taiwan," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 34(3), pages 341-359, September.
    13. Chia-Hung Sun, 2005. "Productivity growth in East Asian manufacturing: a fading miracle or measurement problem?," Journal of International Development, John Wiley & Sons, Ltd., vol. 17(1), pages 1-19.

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