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Lessons from the East Asian NICs : A contrarian view

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  • Lessons from the East Asian NICs
  • Young, Alwyn
  • National Bureau of Economic Research


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Title Lessons from the East Asian NICs
Similar Titles
Sub Title

A contrarian view

Material Type Reports
Author(English)

Young, Alwyn

Publisher

Cambridge:National Bureau of Economic Research

Date 1993-10
Series Title; No NBER Working Paper Series / 4482
Pages 18
Subject Country Eastern Asia(Asia and Pacific)
Hong Kong(Asia and Pacific)
Singapore(Asia and Pacific)
South Korea(Asia and Pacific)
Taiwan(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Economic Administration
Holding National Bureau of Economic Research

Abstract

The unusually rapid and prolonged growth of both output and exports in the Newly Industralizing Countries of East Asia has led many economists to believe that productivity growth in these economies, particularly in their manufacturing sectors, has been extraordinarily high. This view has, in turn, led to a growing belief in the 'dynamic' (i.e. total factor productivity) gains from an outward orientation. This view fails to take into account the equally unusual rapid growth of both capital and labour input in these economies. Using the Summers & Heston and OECD data sets, this paper uses simple back of the envelope calculations to show that, as regards productivity growth in the aggregate economy and in manufacturing in particular, the East Asian NICs are not, in general, substantial outliers. (The rest omitted)