ARE EAST ASIAN ECONOMIES DYNAMICALLY EFFICIENT?

Kookshin Ahn ()
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Kookshin Ahn: Department of Economics, Chung-Ang University

Journal of Economic Development, 2003, vol. 28, issue 1, 101-110

Abstract: This paper investigates dynamic efficiency of major East Asian economies based on the criterion of Abel, Mankiw, Summers and Zeckhauser(1989). It shows that both Korea and Taiwan are not necessarily dynamically efficient since they do not satisfy the sufficient condition of dynamic efficiency. It also shows that, contrary to the claim by Abel, Mankiw, Summers and Zeckhauser(1989), Japan also does not satisfy the sufficient condition of dynamic efficiency. Possible causes and implications of these empirical results are briefly reviewed.

Keywords: Dynamic Efficiency; East Asian Economies; Proprietor¡¯s Income (search for similar items in EconPapers)
JEL-codes: O41 O57 (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:jed:journl:v:28:y:2003:i:1:p:101-110

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