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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?," Monash Economics Working Papers 01-10, Monash University, Department of Economics.
  • Handle: RePEc:mos:moswps:2010-01
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    File URL: http://www.buseco.monash.edu.au/eco/research/papers/2010/0110edogenousgrowthangmadsen.pdf
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    References listed on IDEAS

    as
    1. Jakob Madsen, 2008. "Semi-endogenous versus Schumpeterian growth models: testing the knowledge production function using international data," Journal of Economic Growth, Springer, vol. 13(1), pages 1-26, March.
    2. Jakob B. Madsen, 2008. "Economic Growth, TFP Convergence and the World Export of Ideas: A Century of Evidence," Scandinavian Journal of Economics, Wiley Blackwell, vol. 110(1), pages 145-167, March.
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    Cited by:

    1. repec:eee:eneeco:v:67:y:2017:i:c:p:49-59 is not listed on IDEAS
    2. Jakob Madsen & James Ang & Rajabrata Banerjee, 2010. "Four centuries of British economic growth: the roles of technology and population," Journal of Economic Growth, Springer, vol. 15(4), pages 263-290, December.

    More about this item

    Keywords

    Schumpeterian growth; semi-endogenous growth; Asian growth miracle;

    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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