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To American and European economists in 1945, the countries of Asia were unpromising candidates for high economic growth … Asia experienced vigorous economic growth, some with growth rates far exceeding the previous growth rates of the … economic growth would falter, proved to be incorrect. Growth rates will probably continue at high levels in Southeast Asia for …
Persistent link: https://www.econbiz.de/10013227236
be more different. Common wisdom has it that on impact Asia endured fiscal austerity imposed by the IMF whereas the IMF … different policies to begin with, the fiscal adjustment in Asia was far more modest than is commonly known and the switch from …
Persistent link: https://www.econbiz.de/10013060259
Asia during this century than in any other region or historical period. By introducing demographic variables into an … empirical model of economic growth, this essay shows that this transition has contributed substantially to East Asia's so …-called economic miracle. The 'miracle' occurred in part because East Asia's demographic transition resulted in its working …
Persistent link: https://www.econbiz.de/10013215702
We use data from the Groningen Growth and Development Centre (GGDC) database to perform preliminary empirical analysis of the interplay between quality and quantity of finance in accounting for the output growth of ten sectors. We review the existing literature and some salient open questions...
Persistent link: https://www.econbiz.de/10013029019
Bureaucratic quality in terms of the level of corruption varies widely across countries, and is in general slow to evolve relative to the speed with which many economic polices can be implemented such as the imposition of capital controls. In this paper, we study the possibility that quality of...
Persistent link: https://www.econbiz.de/10013238698
The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivities are calculated for China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore,...
Persistent link: https://www.econbiz.de/10013240954
This paper reaches seven conclusions regarding the Yen Bloc that Japan is reputed to be forming in Pacific Asia. (1 …) Gravity-model estimates of bilateral trade show that the level of trade in East Asia is biased intra-regionally, as it is … is no evidence of a special Japan effect. (3) Once one properly accounts for rapid growth in Asia, the statistics do not …
Persistent link: https://www.econbiz.de/10013218103
This paper provides an asymmetric information analysis of the recent East Asian crisis. It then outlines several lessons from this crisis. First, there is a strong rationale for an international lender of last resort. Second, without appropriate conditionality for this lending, the moral hazard...
Persistent link: https://www.econbiz.de/10013225947
first part of the paper provides an overview of economic fundamentals in Asia on the eve of the crisis, with emphasis on …
Persistent link: https://www.econbiz.de/10013243932
Market size and growth rates, per capita income, distance from the United States, and tax rates on U.S. affiliates accounted for about half the variation among developing host countries in most aspects of U.S. FDI activity. Residuals from the equations for one period add greatly to the...
Persistent link: https://www.econbiz.de/10013233024