Kyoji, FUKAO; Tsutomu, MIYAGAWA; PYO, Hak K.; RHEE, Keun Hee - Research Institute of Economy, Trade and Industry (RIETI) - 2009
As the studies of Krugman (1994), Young (1994), and Lau and Kim (1994) showed, the East Asian economic miracle may be characterized as 'input-led' growth. However, both the stagnation in investment and the decrease in average working hours combined with a decrease in the fertility rate require a...