Shioji, Etsuro; Vu, Tuan Khai - In: Japan and the World Economy 24 (2012) 2, pp. 138-149
The pace of capital accumulation in East Asia has simply been stunning. In this paper, we investigate sources of this fast accumulation and make projections for the future. We estimate a “convergence” equation for physical capital per capita, which is derived from an open economy growth...