THE ASIAN GROWTH MIRACLE: FACTOR ACCUMULATION, THE DEMOGRAPHIC TRANSITION AND R&D-DRIVEN GROWTH

Jakob Madsen and James Ang

No 23-13, Monash Economics Working Papers from Monash University, Department of Economics

Abstract: The spectacular growth rates in the Asian miracle economies (AMEs) are often attributed to factor accumulation whilst ignoring the forces that have been responsible for it. Using data for six AMEs over the period from 1953 to 2009, this paper extends the conventional growth accounting exercise by allowing for the population growth drag and endogeneity of capital deepening, savings, labor force participation and schooling. It is shown that growth has been predominantly a result of the demographic transition and productivity growth, where the latter has been driven by R&D, knowledge spillovers through imports and R&D absorptive capacity.

Keywords: Asian growth miracle; endogenous factor accumulation. (search for similar items in EconPapers)
JEL-codes: O30 O40 O53 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2013-07
New Economics Papers: this item is included in nep-cwa, nep-dem, nep-eff and nep-sea
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.buseco.monash.edu.au/eco/research/papers/2013/index.html (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden (http://www.buseco.monash.edu.au/eco/research/papers/2013/index.html [301 Moved Permanently]--> https://www.monash.edu/business/ [301 Moved Permanently]--> https://www.monash.edu/business)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mos:moswps:2013-23

Ordering information: This working paper can be ordered from
https://www.monash.e ... esearch/publications

Access Statistics for this paper

More papers in Monash Economics Working Papers from Monash University, Department of Economics Department of Economics, Monash University, Victoria 3800, Australia. Contact information at EDIRC.
Bibliographic data for series maintained by Simon Angus ().