Estimates of the steady state growth rates for selected Asian countries with an extended Solow model
This paper develops an extended version of the Solow (1956) growth model in which total factor productivity is assumed a function of two important externalities viz., learning by doing and openness to trade. Using this framework we show that these externalities have played an important role to improve the long run growth rates of six Asian countries viz., Singapore, Malaysia, Thailand, Hong Kong, Korea and the Philippines. A few broad policies to improve the long run growth rates of these countries are suggested.
Year of publication: |
2010
|
---|---|
Authors: | Rao, B. Bhaskara |
Published in: |
Economic Modelling. - Elsevier, ISSN 0264-9993. - Vol. 27.2010, 1, p. 46-53
|
Publisher: |
Elsevier |
Keywords: | Solow growth model Endogenous growth Learning by doing Trade openness Steady state growth rate Newly developing Asian countries |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Rao, B. Bhaskara, (2008)
-
Cointegration and the Demand for Gasoline
Rao, B. Bhaskara, (2008)
-
Tamazian, Artur, (2009)
- More ...