Can Second-Generation Endogenous Growth Models Explain the Productivity Trends and Knowledge Production in the Asian Miracle Economies?

CAMA Working Paper No. 5/2010

30 Pages Posted: 31 Aug 2010

See all articles by James Ang

James Ang

Monash College

Jakob B. Madsen

University of Copenhagen - Department of Economics

Date Written: February 1, 2010

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.

Keywords: Schumpeterian growth, semi-endogenous growth, Asian growth miracle

JEL Classification: O30, O40

Suggested Citation

Ang, James and Madsen, Jakob Bruechner, Can Second-Generation Endogenous Growth Models Explain the Productivity Trends and Knowledge Production in the Asian Miracle Economies? (February 1, 2010). CAMA Working Paper No. 5/2010, Available at SSRN: https://ssrn.com/abstract=1668125 or http://dx.doi.org/10.2139/ssrn.1668125

James Ang (Contact Author)

Monash College ( email )

Guangzhou
China

Jakob Bruechner Madsen

University of Copenhagen - Department of Economics ( email )

Øster Farimagsgade 5
Bygning 26
1353 Copenhagen K.
Denmark

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