Forces of economic growth in China, India, and other Asian countries
This paper applies different approaches to modelling sources of economic growth from time series and panel data sets for 10 Asian countries over the period 1970–2010. After being subjected to fragility tests, the cross‐country estimates indicate that investment, together with policy variables and op...
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Published in | Asian-Pacific economic literature Vol. 29; no. 1; pp. 62 - 81 |
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Main Author | |
Format | Journal Article |
Language | English |
Published |
Oxford
Blackwell Publishing Ltd
01.05.2015
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Subjects | |
Online Access | Get full text |
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Summary: | This paper applies different approaches to modelling sources of economic growth from time series and panel data sets for 10 Asian countries over the period 1970–2010. After being subjected to fragility tests, the cross‐country estimates indicate that investment, together with policy variables and openness to trade, explains about 90 per cent of the estimated 3.2 per cent steady‐state growth rate for the region. Regional growth policy points to expanding trade, supporting financial development, and maintaining sound investment environments. Although country‐specific growth effects vary, the results imply that different estimation methods, combined with fragility tests, can help establish stronger links between growth theory and policy advice. |
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Bibliography: | istex:8AD35AADAA560571534E216C792D03B844A35814 ark:/67375/WNG-NZK1MDPG-M ArticleID:APEL12090 ObjectType-Article-1 SourceType-Scholarly Journals-1 ObjectType-Feature-2 content type line 23 |
ISSN: | 0818-9935 1467-8411 |
DOI: | 10.1111/apel.12090 |