BibTeX
@MISC{Diaoa_,
author = {Xinshen Diaoa and Jbrn Rattsbb and Hildegunn Ekroll Stokkeb},
title = {},
year = {}
}
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Abstract
crisis. While the controversy over Thailand and East Asian growth has discussed the role of capital accumulation versus productivity, we analyze the general equilibrium interaction between Income differences across countries cannot be understood only as a result of different availability of production factors. The empirical evidence that capital stocks per worker Journal of Development Economics 76 (2005) 429–450productivity and investment in an intertemporal growth model. The high growth is understood as a prolonged transition path with gradual tariff reduction and endogenous productivity driven by foreign spillover feeding capital investment. Counterfactual analyses show how protection would have reduced growth with productivity and investment slowdown, while shock liberalization would have raised immediate growth with faster convergence to steady state.
Keyphrases
immediate growth prolonged transition path income difference east asian growth capital stock high growth shock liberalization empirical evidence foreign spillover capital accumulation versus productivity worker journal endogenous productivity general equilibrium interaction intertemporal growth model capital investment investment slowdown development economics steady state different availability gradual tariff reduction production factor
