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Alternative Explanations of the Trade-Output Correlation in the East Asian Economies

Listed author(s):
  • Colin I. Bradford Jr.
  • Naomi Chakwin
Registered author(s):

    A number of Asian countries have been able to follow the example of Japan and develop sophisticated industrial economies in a relatively short time. Specifically, Hong Kong, South Korea, Singapore and Taiwan have become known as the "Four Tigers" of Asia due to their strength and importance in international markets. It is not only the pace of industrialisation but the relative equity which has accompanied growth in these countries that has fascinated economists. This paper analyses alternative structural models which represent different theoretical frameworks for development in East Asia. A structural vectorautoregressive technique is used with panel data comprising Hong Kong, Japan, South Korea, Singapore and Taiwan, for the period 1969-89. This technique has been chosen because it can discriminate between structural hypotheses. The first model tested is a model of export-led output growth. In this exercise exports are allowed to have a direct stimulating effect on the economy. In ... Un bon nombre de pays asiatiques ont pu suivre l'exemple du Japon et développer, en un temps relativement court, des économies industrielles sophistiquées. Hong Kong, la Corée du Sud, Singapour et Taiwan, en particulier, se sont fait connaître comme les "Quatre Tigres" de l'Asie, grâce à leur vitalité et à leur importance sur les marchés internationaux. Les économistes ont été impressionnés non seulement par le rythme de l'industrialisation, mais aussi par la relative équité qui, dans ces pays, a accompagné la croissance. Ce document analyse des modèles structurels de remplacement représentant différents schémas théoriques pour un développement en Asie de l'Est. On utilise une analyse autorégressive structurelle avec des données d'échantillon comprenant Hong Kong, le Japon, la Corée du Sud, Singapour et Taiwan, pour la période 1969-89. Cette technique a été choisie parce qu'elle permet de différencier les hypothèses structurelles. Le premier modèle testé est un modèle de croissance de la ...

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    Paper provided by OECD Publishing in its series OECD Development Centre Working Papers with number 87.

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    Date of creation: 01 Aug 1993
    Handle: RePEc:oec:devaaa:87-en
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