We analyze and compare the pattern of economic growth and development of China and South Korea in the postwar period. Geographical proximity and cultural affinity between the two countries, as well as the key role of the developmental state in the economies of both countries, suggests that an...

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...

This paper reconsiders two questions relating to India's economic growth: structural breaks in growth and the impact of equipment investment on aggregate economic growth. First, statistical tests of structural change show that economic growth in post-independence India has witnessed four...

Using a novel panel dataset of Egyptian governorates for the period 1992-2007, we investigate the effects of aggregate and sectoral foreign direct investment (FDI) on Egypt's economic growth. We distinguish between FDI in the manufacturing, agriculture and service sector. The similarity of...

One of the most fundamental issues worldwide is the economic interdependence of countries which affects their economic growth. Some new growth theorists such as Mankiw et al., Islam, Ertur and Koch, Lee, Yu and Yu Ho et al. consider geographical proximity and trade as spatial variables. This...

Since the late 1970s, the Chinese government has been undertaking major efforts in developing their countries economy by means of industrial policy. However, a more narrow approach to industrial policy has been pursued only since 2010, with the initiation of the 'Strategic Emerging Industries'...

To investigate the causes of Korea's growth slowdown over the past thirty years, we estimate the contributions of major developmental factors, including i) demographic factors (changes in population growth and workforce age due to the demographic transition), ii) quality-of-life-related choice...

Following Bai (2004) and Bai and Ng (2004) we estimate a common factor representation of a panel of output series for India, disaggregated by 15 states and 14 broad industry groups. We find that a single common "V-Factor" accounts for a large part of the significant shift in the cross-sectional...

This paper examines changes in regional inequality in India in the 1990s, using data for 210 of India's districts, spread across nine states. It provides a finer-grained quantitative analysis of growth patterns than has hitherto been attempted for India. The methodology is that of cross-section...