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The Global Economic Recession and Industrial Structure: Evidence from Four Asian Dragons

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  • Hsieh, Wen-jen

    (Asian Development Bank Institute)

Abstract

The collapse of exports that has attended the current global economic recession threatens the export-led economic growth of the four Asian dragons. To better understand the economic performances and future prospects of the four dragons, this paper first examines the economic structural changes that have taken place in Hong Kong, China; the Republic of Korea; Singapore; and Taipei,China, as well as the gradual shifting of the sources of economic growth away from the manufacturing sector and toward the service sector. Following this, a panel data set for the four dragons for the period 1995–2008 is constructed and a fixed-effects model applied to the data.

Suggested Citation

  • Hsieh, Wen-jen, 2011. "The Global Economic Recession and Industrial Structure: Evidence from Four Asian Dragons," ADBI Working Papers 315, Asian Development Bank Institute.
  • Handle: RePEc:ris:adbiwp:0315
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    File URL: http://www.adbi.org/files/2011.10.25.wp315.recession.industrial.structure.asian.dragons.pdf
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    References listed on IDEAS

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    1. Jungsoo Park & Hang Ryu, 2006. "Accumulation, Technical Progress, and Increasing Returns in the Economic Growth of East Asia," Journal of Productivity Analysis, Springer, vol. 25(3), pages 243-255, June.
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    6. Bihong Huang, 2008. "International Dependency and Economic Fluctuations in East Asian NIEs," Global Economic Review, Taylor & Francis Journals, vol. 37(4), pages 497-506.
    7. Keith Brook, 2009. "Performance and employment characteristics of the UK service industries, 1990–2008," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 3(6), pages 39-50, June.
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    Cited by:

    1. Simon J. Evenett, 2014. "Mapping crisis-era protectionism in the Asia and Pacific region," Chapters,in: A World Trade Organization for the 21st Century, chapter 6, pages 130-156 Edward Elgar Publishing.

    More about this item

    Keywords

    global economic recession; asian dragons; new service development; industrial structure;

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F01 - International Economics - - General - - - Global Outlook
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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