Bloom, David E.; Canning, David; Finlay, Jocelyn E. - 2008
In 1994 the World Bank called East Asia's strong economic growth performance a "miracle". Trade openness, high savings … was left unexplained. Research in the ensuing years has shown that when demographic change in East Asia is taken into … account, the miracle is explained. These earlier studies used the 1960-1990 sample period, but since 1990 Asia has undergone …