This paper uses the standard one-sector neoclassical growth model to investigate why China's consumption has been low and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts that the price of capital may have been significantly...

Consensus forecasts for the global economy over the medium and long term predict the world's economic gravity will substantially shift towards Asia and especially towards the Asian Giants, China and India. While such forecasts may pan out, there are substantial reasons that China and India may...

While Korea remains one of the fastest-growing OECD economies, its potential growth rate per capita is projected to decelerate from around 4% during the current decade to around 2¼ per cent during the 2030s. Sustaining growth requires policies to mitigate the impact of rapid population ageing...

The paper investigates the impacts of different health indicators on Economic growth in Pakistan. The Cointegration and Error Correction techniques were applied on the time series data of Pakistan for the period of 1972-2006. We find that Per capita GDP is positively influenced by health...

This paper compares and contrasts the growth experience of India with that of China. Chinese economy has grown at much faster rate than Indian, but India seems to be catching up. The average estimated productivity growth rate of China (5.9%) is more than double that of India (2.4%). The...

This paper re-examines the role of physical capital accumulation in the Indian economy over the period 1953-2010. As an alternative to the orthodox total factor productivity (TFP) view, the paper develops a combined TFP-capital accumulation hypothesis of growth transitions. The results show that...

This paper examines and applies the theoretical foundation of the decomposition of economic and productivity growth to the thirty provinces in China’s post-reform economy. The four attributes of economic growth are input growth, adjusted scale effect, technical progress, and efficiency growth....

We use the World Bank Investment Climate Surveys data to analyze the employment of both labor and capital in Indian manufacturing. We focus on disparities among states in manufacturing employment patterns, and provide reduced form evidence of their relationship to both (i) institutional...

The paper examines the export-led growth (ELG) hypothesis for nine Middle East and North Africa (MENA) countries in three-variable vector autoregressive and error correction models. When considering total exports, our results reject the ELG hypothesis in almost all of these countries. When we...

This paper, divided into seven sections, considers the development of economic growth theory in light of the spectacular advances of the economies of China, India, and Southeast Asia. Section 1 reviews the debate over the sources of technological change and the measurement of total factor...