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Openness, unemployment, and economic growth in East Aisa

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  • Openness, unemployment, and economic growth in East Aisa
  • Kim, Byung Woo
  • International Journal of Economics, Commerce and Management


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Title Openness, unemployment, and economic growth in East Aisa
Similar Titles
Material Type Articles
Author(English)

Kim, Byung Woo

Publisher

[Rochester]:International Journal of Economics, Commerce and Management

Date 2016-01
Journal Title; Vol./Issue International Journal of Economics, Commerce and Management:vol. 5(issue 1)
Pages 30
Subject Country China(Asia and Pacific)
Hong Kong(Asia and Pacific)
Indonesia(Asia and Pacific)
Japan(Asia and Pacific)
Cambodia(Asia and Pacific)
Malaysia(Asia and Pacific)
Nepal(Asia and Pacific)
Philippines(Asia and Pacific)
Singapore(Asia and Pacific)
South Korea(Asia and Pacific)
Thailand(Asia and Pacific)
Taiwan(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Macroeconomics
Holding International Journal of Economics, Commerce and M

Abstract

Barro and Sala-i-Martin (2004) analyzed the empirical determinants of growth. The data set used in this paper consists of panel data of several macroeconomic variables observed for 55 years (1950~2004) in six East Asian areas. Following the implications of semi-endogenous growth theory, we regressed output growth on the determinants of steady-state income. The estimation and test results suggest the existence of significant relationship between steady state income and (trend weighted) R&D input both in Japan and South Korea. In addition, following Cellini (1995), we also consider co-integration and error-correction methods for the growth regression of East Asian areas. We extend previous analysis using structural VAR to other Asian areas, Japan and Taiwan for estimating impulse responses of the growth of production to unemployment. In addition, we find that openness and terms of trade affect growth in Asian countries.