Growth determinants in low-income and emerging Asia: a comparative analysis

Ari Aisen

Asia-Pacific Development Journal, 2007, vol. 14, issue 2, 1-22

Abstract: This paper investigates the determinants of economic growth in low-income countries in Asia. Estimates from standard growth regressions using data for 146 developing countries for the period 1970-2000 indicate that a higher investment-to-GDP ratio, openness, primary school enrolment and rule of law all positively affect growth. Conversely, a higher government expenditure-to-GDP ratio is associated with lower growth. In addition, a comparative exercise between emerging countries and low-income countries in Asia shows that investment raises growth significantly more efficiently in the former. The paper concludes by recommending policy directions, based on the empirical results, that could help spur growth throughout low-income Asia.

Keywords: Economic growth; Emerging Asia; Developing Asia (search for similar items in EconPapers)
JEL-codes: O47 O53 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:unt:jnapdj:v:14:y:2007:i:2:p:1-22

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