Can second-generation endogenous growth models explain the productivity trends and knowledge production in the Asian miracle economies?

Beng Ang, Jakob Madsen

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106 Citations (Scopus)


Using data for six Asian miracle economies over the period from 1953 to 2006, this paper examines the extent to which growth has been driven by R D and tests which second-generation endogenous growth model is most consistent with the data. The results give strong support to Schumpeterian growth theory but only limited support to semi-endogenous growth theory. Furthermore, it is shown that R D has played a key role for growth in the Asian miracle economies.
Original languageEnglish
Pages (from-to)1360 - 1373
Number of pages14
JournalReview of Economics and Statistics
Issue number4
Publication statusPublished - 2011

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