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Technological Catch‐Up and Economic Growth in East Asia and the Pacific *
Author(s) -
DRYSDALE PETER,
HUANG YIPING
Publication year - 1997
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1997.tb00993.x
Subject(s) - purchasing power parity , east asia , economics , productivity , purchasing power , china , total factor productivity , asia pacific , international trade , development economics , economic geography , geography , economic growth , macroeconomics , archaeology , exchange rate
This paper examines factors contributing to the faster economic growth in East Asia relative to other APEC economies. A simple but popular model is applied using purchasing power parity income estimates. Contrary to the view recently advanced by Krugman, we find that productivity improvement was an important factor contributing to the rapid East Asian growth. For many East Asian economies such as Japan, Korea, Taiwan and Hong Kong, a large proportion of higher than average growth is attributable to technological progress.