GDP vs genuine progress quantification of economic performance in South Korea and Malaysia

Mastura Hashim, Imtiaz Mohammad Sifat and Azhar Mohamad

Economics and Business Letters, 2018, vol. 7, issue 4, 169-178

Abstract: Malaysia and South Korea, successful graduates of Asian Financial Crisis, employed different paths to recovery via Capital Control and IMF bail-out respectively. This paper tracks recovery trajectories of the two nations via orthodox and emergent growth indicators: GDP and GPI. We report unemployment, open-trade, fixed capital accumulation, and prior crisis to be influential determinants of both metrics, while credit and foreign exchange rate lack significance.

Date: 2018
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