International Growth Linkages: Evidence from Asia and the OECD / John F. Helliwell.

Format:

Book

Author/Creator:

Helliwell, John F.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w4245.

NBER working paper series no. w4245

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

International Growth Linkages

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1992.

Summary:

This paper first shows how the convergence model generally applicable to the OECD and in augmented form to global samples fails to reflect the post-1960 experience of the Asian economies, and then considers some of the factors explaining the differences. Investment rates in physical capital appear to be more important in explaining growth differences among the Asian economies, while education matters less. Various measures of openness to imports contribute importantly to explaining relative growth rates in Asia, with the more open economies generally having significantly faster growth rates, even after allowing for differences in investment rates. After allowing for differences in openness and investment rates, there also appears to be a trade-off between democracy and growth, with the initially less democratic Asian countries having faster subsequent growth, leading eventually to increasing effective demand for democratization.

Notes:

Print version record

December 1992.