The Tyranny of Numbers or the Tyranny of Methodology: Explaining the East Asian Growth Experience

James Riedel ()

Annals of Economics and Finance, 2007, vol. 8, issue 2, 385-396

Abstract: This paper applies the theory and insights of Maurice Scott¡¯s New View of Economic Growth (1989) to challenge the analysis and conclusions of Alwyn Young¡¯s widely acclaimed paper, ¡±The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience¡± (1995), which purports to show that growth in the East Asian NICs was mainly due to factor accumulation, with little technical change or total factor productivity growth. It is argued that Young¡¯s empirical findings result from the inappropriate, albeit widely adopted, practice of subtracting depreciation from gross investment in measuring the contribution of investment to growth.

Keywords: Tyranny of Numbers; Tyranny of Methodology; East Asian Growth (search for similar items in EconPapers)
JEL-codes: D41 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:cuf:journl:y:2007:v:8:i:1:p:385-396

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