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Estimates of the steady state growth rates for selected Asian countries with an endogenous growth framework

Author

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  • Rao, B. Bhaskara

Abstract

This paper develops an endogenous growth ramework with externalities due to learning by doing and trade openness to show that these externalities are significant for 6 Asian countries. The estimated parameters of the augmented production functions are used to compute the steady state growth rates for Singapore, Malaysia, Thailand, Hong Kong, Korea and the Philippines. A few broad policies to improve these steady state growth rate are suggested.

Suggested Citation

  • 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.
  • Handle: RePEc:pra:mprapa:2389
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    File URL: https://mpra.ub.uni-muenchen.de/2389/1/MPRA_paper_2389.pdf
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    File URL: https://mpra.ub.uni-muenchen.de/3373/1/MPRA_paper_3373.pdf
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    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Bee Yan Aw & Sukkyun Chung & Mark J. Roberts, 2003. "Productivity, output, and failure: a comparison of taiwanese and korean manufacturers," Economic Journal, Royal Economic Society, vol. 113(491), pages 485-510, November.
    3. Barro, Robert J, 1990. "Government Spending in a Simple Model of Endogenous Growth," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 103-126, October.
    4. Rebelo, Sergio, 1991. "Long-Run Policy Analysis and Long-Run Growth," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 500-521, June.
    5. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
    6. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-183, May.
    7. Kocherlakota, Narayana R & Yi, Kei-Mu, 1996. "A Simple Time Series Test of Endogenous vs. Exogenous Growth Models: An Application to the United States," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 126-134, February.
    8. Levine, Ross & Renelt, David, 1992. "A Sensitivity Analysis of Cross-Country Growth Regressions," American Economic Review, American Economic Association, vol. 82(4), pages 942-963, September.
    9. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-784, August.
    10. 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.
    11. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. B. Bhaskara Rao, 2010. "Time-series econometrics of growth-models: a guide for applied economists," Applied Economics, Taylor & Francis Journals, vol. 42(1), pages 73-86.
    2. B. Bhaskara Rao & Artur Tamazian & Rup Singh, 2010. "What is the long run growth rate of the East Asian Tigers?," Applied Economics Letters, Taylor & Francis Journals, vol. 17(12), pages 1205-1208.
    3. Bhaskara Rao, B. & Rao, Gyaneshwar, 2009. "Structural breaks and energy efficiency in Fiji," Energy Policy, Elsevier, vol. 37(10), pages 3959-3966, October.

    More about this item

    Keywords

    Endogenous Growth; Learning by Doing Trade Openness; Steady State Growth Rate; Newly Developing Asian Countries;

    JEL classification:

    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O29 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Other
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O39 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Other
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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