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Estimates of the Steady State Growth Rates for Selected Asian Countries with an Extended Solow Model

  • Rao, B. Bhaskara

This paper develops an extended version of the Solow (1956) growth model in which total factor productivity is assumed a function of two important externalities viz., learning by doing and openness to trade. Using this framework we show that these externalities have played an important role to improve the long run growth rats of six Asian countries viz., Singapore, Malaysia, Thailand, Hong Kong, Korea and the Philippines. A few broad policies to improve their long run growth rates are suggested.

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File URL: http://mpra.ub.uni-muenchen.de/9724/1/MPRA_paper_9724.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 9724.

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Date of creation: 25 Jul 2008
Date of revision: 01 Jul 2008
Handle: RePEc:pra:mprapa:9724
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  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.
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  17. 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 126-34, February.
  18. Carmen Alvarez Albelo & Antonio Manresa, 2005. "Internal Learning By Doing And Economic Growth," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 30(2), pages 1-23, December.
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