We investigate empirically the extent to which government consumption substitutes for private consumption in nine East Asia countries. Panel cointegrating regression uncovers a significantly positive elasticity of substitution between government and private consumption, implying on average...

This chapter of the Oxford Handbook of Asian Business Systems examines how states influence the structure of national business systems in Asia. It begins with an overview of literature on the state's role with regard to the institutional arrangements of capitalist systems in non-Asian as well as...

We investigate empirically the extent to which government consumption substitutes for private consumption in nine East Asia countries. Panel cointegrating regression uncovers a significantly positive elasticity of substitution between government and private consumption, implying on average...