Productivity lessons for the Asian region
Lawrence Lau Jungsoo Park
Macroeconomics Working Papers from East Asian Bureau of Economic Research
This study investigates how the patterns of productivity growth have changed over the past few decades for the Asian economies in comparison with the advanced economies. The findings indicate that the Asian economies are in the process of transition in terms of pattern of growth. It seems that the 4 NIEs have already transitioned from input-based growth to productivity-based growth, and the remaining Asian economies are starting to show signs of transition in the past decade. Scrutinizing the recent trends in human capital, R&D, patent statistics, and inward FDIs, they all indicate that the productivity growth will be stronger in the Asian region than before and will constitute the major basis for growth.
Keywords: total factor productivity; Asian economies; economic growth (search for similar items in EconPapers)
JEL-codes: O47 O57 (search for similar items in EconPapers)
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