Author: Jesus Felipe Publisher: ISBN: Category : Asia, Southeastern Languages : en Pages : 344
Book Description
This research work is an empirical analysis of the determinants of long-run growth and technical progress in five Southeast Asian countries, Indonesia, Malaysia, the Philippines, Singapore, and Thailand, i.e., the ASEAN countries, during the last three decades. We ask the fundamental question of why these economies have grown, and concentrate on the nature of technical progress behind the growth process. We have tested different endogenous growth models, and have analyzed whether the determinant of technical progress proposed by each of the models is part of the long-run production function. The analysis concentrates on the individual countries, in an attempt to point out differences in the growth process and in the nature of the technical process associated to it. Our empirical findings indicate that an important determinant of long-run growth in the ASEAN countries is imports of foreign technology. However, none of the variables pointed out by recent endogenous growth models, i.e., aggregate capital, education, government capital expenditures, is capable of generating endogenous growth, as defined by these models. Even the role of exports, except in Singapore, is not so clear. Education, exports of machinery and GDP growth are important determinants of TFP growth in all five ASEAN countries, and Japanese FDI appears to be particularly important in Singapore. We have found complementarity between the level of education and Japanese FDI, as well as between the former and imports of machinery. However, we conclude that none of the determinants analyzed, separately, is capable of accounting for the growth of these countries, and that only a sustained big-push package can be responsible for the increase in productivity and growth in the region.
Author: Fabian Bocek Publisher: ISBN: 9781032192949 Category : Business & Economics Languages : en Pages : 0
Book Description
This book's concept of 'ersatz capitalism' w.r.t. Malaysia and Indonesia is a unique approach to international comparative research on capitalism. It will be of interest to international pol-eco, dev. studies, new institutionalism, East Asian & Southeast Asian studies, & industrial & innovation policy.
Author: Mr. Michael Sarel Publisher: International Monetary Fund ISBN: 1451897782 Category : Business & Economics Languages : en Pages : 51
Book Description
This study examines the nature of the growth process in the ASEAN countries, and particularly whether it has been generated primarily by more inputs or by productivity gains. It uses internationally comparable data and explores an alternative method for estimating the capital and labor factor shares. The results, contradicting some previous studies, indicate a very impressive growth rate of TFP in Singapore, Thailand, and Malaysia, a relatively strong rate for Indonesia, and a negative rate for the Philippines. This study argues that the results of previous studies were driven mainly by the fact that they relied on national accounts data for measures of various variables and, in particular, the factor income shares of capital and labor.
Author: Mr.Michael Sarel Publisher: International Monetary Fund ISBN: 1451852088 Category : Business & Economics Languages : en Pages : 38
Book Description
This paper examines the different arguments raised by the studies that addressed the East Asian growth experience. The original arguments presented in this paper are all on the negative side, highlighting problems associated with some of the possible explanations for the East Asian miracle. The paper concentrates mainly on four dimensions of the debate about the East Asian growth experience: (i) The nature of economic growth intensive or extensive?; (ii) The role of public policy and of selective interventions; (iii) The role of high investment rates and a strong export orientation as possible engines of growth; and (iv) The importance of the initial conditions and their relevance for policy.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498344658 Category : Business & Economics Languages : en Pages : 257
Book Description
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 9292610392 Category : Business & Economics Languages : en Pages : 302
Book Description
Human capital is an important factor for economic growth in South Asia. Between 1981 and 2010, human capital contributed about 22% of annual gross domestic product per worker growth in India. During the same period, it contributed around 21% in Bangladesh, and 16% in Sri Lanka. However, education and skills remain the binding constraint. Raising the quality of education and skills in South Asia's workforce can play a critical role in catching up to the level of development of the People's Republic of China, the Republic of Korea, and other successful Southeast Asian economies. This study reviews the development of human capital in South Asia and analyzes contributing factors to human development including policies and strategies that countries in South Asia follow.
Author: Commission on Growth and Development Publisher: World Bank Publications ISBN: 0821374923 Category : Business & Economics Languages : en Pages : 198
Book Description
The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.
Author: Jesus Felipe
Author: Fabian Bocek
Author: Mr. Michael Sarel
Author: Mr.Michael Sarel
Author: Peter Wallace Preston
Author: International Monetary Fund
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Author: Asian Development Bank
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Author: Commission on Growth and Development