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We modify the concept of the middle-income trap (MIT) against the background of the Fourth Industrial Revolution and the (future) challenges of automation (creating the concept of the "MIT 2.0") and discuss the implications for developing Asia. In particular, we analyze the impacts of...
Persistent link: https://www.econbiz.de/10012206273
In our paper, we modify the concept of the middle-income trap (MIT) against the background of the Fourth Industrial Revolution and the (future) challenges of automation (creating the concept of the “MIT 2.0”). In particular, we analyze the impacts of automation, artificial intelligence, and...
Persistent link: https://www.econbiz.de/10012909722
We show that skilled and unskilled labors are imperfect substitutes and that capital and skilled labor are complementary in production. The Korean economy has experienced skill-biased technical changes. The capital stock growth is found to be the main source of the economic growth. The...
Persistent link: https://www.econbiz.de/10013109245
Singapore's remarkable success in economic development has been strongly associated with the country's vigorous efforts to embrace the Information and Communication Technology ICT revolution to promote economic growth. This study provides a comprehensive investigation of the contributions of ICT...
Persistent link: https://www.econbiz.de/10013054028
The year 2023 commemorates the 30th anniversary of the publication of the influential, yet controversial, study The East Asian Miracle report by the World Bank (1993). An important part of the report's analysis was concerned with the sources of growth in East Asia. This was based on the...
Persistent link: https://www.econbiz.de/10014342095
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...
Persistent link: https://www.econbiz.de/10011647748
The paper aims to investigate relationships between technology and innovation management, total factor productivity and economic growth in China. By comparing the trends in total factor productivity growth of industrialized economies (i.e. OECD), this study intends to showcase the importance of...
Persistent link: https://www.econbiz.de/10013296140
An important economic policy issue is to ascertain when and if technical change (TC) is driving measured growth in productivity. Was this the case for Japan during the late 1980s when a massive financial bubble was being formed? This paper addresses this question, after first further...
Persistent link: https://www.econbiz.de/10013081064
We build China’s national production function based on national accounting data since 1997, when China primarily transformed from the Planned economy to Market. By proxying and measuring stocks of human capital(HC), physical capital and the efficiency units, as well as government expenditure...
Persistent link: https://www.econbiz.de/10010345185
This study explores the diversification of high-quality technologies within Chinese cities from 2000 to 2015. Our results reveal that both high-quality and low-quality technological portfolios contribute to high-quality technological diversification. High-quality portfolios dominate this process...
Persistent link: https://www.econbiz.de/10014632755