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This paper explores the impacts of more rapid growth in labor productivity in the service sector in Asia based on an empirical general equilibrium model. The model allows for input-output linkages and capital movements across industries and economies, and consumption and investment dynamics. We...
Persistent link: https://www.econbiz.de/10010381539
conditional convergence theory. Cross-country regression further suggests that the Republic of Korea's catch-up to the United … decades due to the convergence effect and with the rebalancing toward a domestic consumption and services-based economy. The …
Persistent link: https://www.econbiz.de/10011471510
economic growth remain relatively limited. Our baseline projections based on the model of conditional convergence show that the … the convergence phenomenon. By expanding at robust rates, developing Asia will account for close to two thirds of the …
Persistent link: https://www.econbiz.de/10008749709