Growth in East Asia: What We Can and What We Cannot Infer From it

September 1, 1995

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Michael Sarel. Growth in East Asia: What We Can and What We Cannot Infer From it, (USA: International Monetary Fund, 1995) accessed November 24, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Economic growth, Expenditure, Growth accounting, Labor, Production, Productivity, Public expenditure review, Technological innovation, Technology

Keywords: A number of country, Depreciation rate, East Asia, Growth accounting, Industrializing country, Industrializing economies of East Asia, Investment rate, Land equality, Land redistribution, Productivity, Public expenditure review, Technological innovation, WP

Publication Details

Pages:

38
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1995/098
Stock No:

WPIEA0981995
ISBN:

9781451852080
ISSN:

1018-5941

Notes

Paper was presented at the Conference on Growth and Productivity, organized by the Reserve Bank of Australia in Sydney, in July 1995.

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