Ahn, Kookshin - In: Journal of Economic Development 28 (2003) 1, pp. 101-110
This paper investigates dynamic efficiency of major East Asian economies based on the criterion of Abel, Mankiw … satisfy the sufficient condition of dynamic efficiency. It also shows that, contrary to the claim by Abel, Mankiw, Summers and … Zeckhauser(1989), Japan also does not satisfy the sufficient condition of dynamic efficiency. Possible causes and implications of …