GDP vs genuine progress quantification of economic performance in South Korea and Malaysia

Mastura Hashim, Imtiaz Mohammad Sifat, Azhar Mohamad

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Abstract

Malaysia and South Korea, successful graduates of Asian Financial Crisis, employed different paths to recovery via Capital Control and IMF bail-out respectively. This paper tracks recovery trajectories of the two nations via orthodox and emergent growth indicators: GDP and GPI. We report unemployment, open-trade, fixed capital accumulation, and prior crisis to be influential determinants of both metrics, while credit and foreign exchange rate lack significance.

Original languageEnglish
Pages (from-to)169-179
Number of pages11
JournalEconomics and Business Letters
Volume7
Issue number4
DOIs
Publication statusPublished - 23 Nov 2018
Externally publishedYes

Keywords

  • GDP
  • Genuine progress
  • Malaysia
  • South Korea
  • Sustainable growth

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