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- Title
CAN SECOND-GENERATION ENDOGENOUS GROWTH MODELS EXPLAIN THE PRODUCTIVITY TRENDS AND KNOWLEDGE PRODUCTION IN THE ASIAN MIRACLE ECONOMIES?
- Authors
Ang, James B.; Madsen, Jakob B.
- Abstract
Using data for six Asian miracle economies over the period from 1953 to 2006, this paper examines the extent to which growth has been driven by R&D and tests which second-generation endogenous growth model is most consistent with the data. The results give strong support to Schumpeterian growth theory but only limited support to semi-endogenous growth theory. Furthermore, it is shown that R&D has played a key role for growth in the Asian miracle economies.
- Subjects
ASIA; ENDOGENOUS growth (Economics); ECONOMICS; MATHEMATICAL models of economic development; ECONOMIC conditions in Asia; RESEARCH &; development; ECONOMIC development
- Publication
Review of Economics & Statistics, 2011, Vol 93, Issue 4, p1360
- ISSN
0034-6535
- Publication type
Article
- DOI
10.1162/REST_a_00126