Economic Convergence in Seven Asian Economies

Haizheng Li and Zhenhui Xu ()

Review of Development Economics, 2007, vol. 11, issue 3, pages 531-549

Abstract: The impressive economic growth in a select group of Asian economies in the last several decades prompts some to argue that authoritarianism helps rapid economic growth while democracy hampers it. In this paper, we used the panel data approach to test this hypothesis for seven Asian economies, including South Korea, Singapore, and China. Our results reject the strong version of this hypothesis but fail to reject the weak version of it. Specifically, we found insignificant impacts of political freedom but significant effects of economic freedom on advancing economic convergence in these economies. Copyright © 2007 The Authors; Journal compilation © 2007 Blackwell Publishing Ltd.

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