Using international data starting 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points when their per capita incomes...

This study reviews and analyzes the changes in total factor productivity (TFP) growth in 12 Asian economies – the People's Republic of China; Hong Kong, China; India; Indonesia; the Republic of Korea; Malaysia; Pakistan; the Philippines; Singapore; Taipei, China; Thailand; and Viet Nam – for the...

This paper has two main objectives. First, it assesses and measures the gaps in the stock of human capital across the world. It presents how effectively different regions are improving their stock of human capital, and how long it will take for developing countries to catch up with the current...

Human capital refers to the ability and efficiency of people to transform raw materials and capital into goods and services, the consensus being that these skills can be learned through the educational system. The concept of human capital, necessarily, is related to the productivity of workers....

This paper investigates the channels through which the middle class may matter for consumption growth and development. Determinants of the size and the growth of the middle class are also examined. Using several different middle class measures and a panel of 72 developing countries spanning the...

Aggregating per capita gross domestic product growth across countries has always been a technical problem due to complexities in the relative movements of exchange rates, economic output, and populations. As such, the conventional approach to aggregating growth across countries suffers from...

Inclusive growth should ensure “broad-based” economic growth which characterizes the pattern of growth. Beyond simple association identification implied by the Kuznets curve and cross-country panel regression analyses, this study attempts to shed light on the dynamic causality relationship...

Private investment in Malaysia has been sluggish since the Asian financial crisis. One explanation is that the growing presence of government-linked corporations (GLCs) has been crowding out private investment. For the first time, we provide empirical evidence on the relationship between GLC...

This paper reviews what the profession has learned during the last 25 years about East Asia's growth using growth accounting exercises and estimations of production functions. The publication of Alwyn Young's (1992, 1994, 1995) and Jong-Il Kim and Lawrence Lau's (1994) studies, and Paul...

We empirically examine and compare the determinants of producer and consumer price inflation in 10 Asian economies during 2000–2015. In this connection, we also investigate the pass-through of global oil prices, global food prices, and exchange rates to domestic producer and consumer prices....