Growth and Convergence in the Asia-Pacific Region: On the Role of Openness, Trade and Migration / Alan M. Taylor.

Format:

Book

Author/Creator:

Taylor, Alan M.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w5276.

NBER working paper series no. w5276

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Growth and Convergence in the Asia-Pacific Region

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1995.

Summary:

This paper examines the relationship between openness, trade, and migration in the Asia-Pacific region during the post-1970 period. Conventional reduced-form empirical-growth specifications are augmented by an appeal to structural modelling, an extension that reveals a rich set of interactions between policy, distortions, factor accumulation and growth. A broad array of openness measures play a major role in the successful growth performance of the Asia-Pacific region, a key channel being the distortion-investment nexus. In contrast, the results suggest little role for migration as a quantitatively significant growth determinant, at least at the macro level, which is no surprise in this area of historically low net migration rates. However, I find that within-sample prediction for the Asia-Pacific region is harder to achieve -- 'good luck' as well as 'good policy' played a part.

Notes:

Print version record

September 1995.