Growth and Convergence in the Asia-Pacific Region: On the Role of Openness, Trade and Migration

Alan Taylor

No 5276, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper examines the relationship between openness, trade, and migration in the Asia-Pacific region during the post-1970 period. Conventional reduced-form empirical-growth specifications are augmented by an appeal to structural modelling, an extension that reveals a rich set of interactions between policy, distortions, factor accumulation and growth. A broad array of openness measures play a major role in the successful growth performance of the Asia-Pacific region, a key channel being the distortion-investment nexus. In contrast, the results suggest little role for migration as a quantitatively significant growth determinant, at least at the macro level, which is no surprise in this area of historically low net migration rates. However, I find that within-sample prediction for the Asia-Pacific region is harder to achieve -- 'good luck' as well as 'good policy' played a part.

JEL-codes: E22 F43 (search for similar items in EconPapers)
Date: 1995-09
Note: DAE
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published as International Trade and Migration in the APEC Region, ed. by P.J. Lloyd and L.S. Williams. Oxford Univ Press, 1997.
Published as Lee, Michael, et al, 1998. "Growth Convergence: Some Panel Data Evidence," Applied Economics, Taylor and Francis Journals, vol. 30(7), pages 907-12, July.

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