This paper studies the catching-up process in per capita income of the so-called Asian Dragons and Tigers. It contributes to the literature in several ways. First, it tests the catching-up hypothesis using the longest time span ever considered, from 1870 to 2014. Second, it documents the...

The middle-income trap (MIT) is a scenario of rapidly growing economies that experience sudden stops and ultimately lead to stagnation at the middle-income level. Economic growth depends on changes in the demographics of a country. Conversely, the demographic change in economic growth has both...

Many developing countries have attempted to pursue the East Asian growth model in recent decades. This model is widely perceived to have been based on export-led growth. Given that developed countries are likely to grow at a slower rate and be less willing to run trade deficits in the...

The aim of this study is to develop a conceptual framework for the middle-income trap (MIT). Firstly, we present an extensive literature review of what the MIT concept is, why economies become 'stuck' in the MIT, and how the idea is criticized. Secondly, we put together a list of countries stuck...

Asia is fast becoming the largest recipient of Japan's foreign direct investment (FDI). Within the Asian region, the Association of Southeast Asian Nations (ASEAN) has been the major investment destination of Japan. In the manufacturing sectors, however, the investment flows from Japan to ASEAN...

In this paper we examine the changing nature of Japan's commercial policy over the last 25 years while reviewing Japan's changing structure of trade, FDI and economy that underlay policy changes. We argue that until the late 1990s Japan adopted a two-track approach of relying on multilateral...

This paper aims to study the impacts of financial development, urbanization, and globalization on income inequality in the People's Republic of China. It applies the regression-based inequality decomposition approach on a panel dataset, which is aggregated from a unique database of financial...

The aim of this paper is to contribute to the debate on the structural change effects or labor reallocation effects on the regional disparity in productivity growth in India and the People's Republic of China (PRC). The paper uses secondary data at the state level in India and provinces in the...

This paper examines the effect of institutions on macrofinancial resilience in Asia. Focusing on a panel of 12 Asian economies from 1996Q1 to 2020Q4, we find that institutions for economies with high levels of institutional quality support the resilience of real GDP per capita and net FDI...

The global financial crisis and the recent growth slowdown in the People's Republic of China (PRC) have led to questions about the sustainability of the PRC's growth. The commonly used argument is that the PRC is too dependent on external demand and that it needs to rebalance its economy toward...