The anatomy of the Asian take-off

Jakob B. Madsen, Md Rabiul Islam

Research output: Contribution to journalArticleResearchpeer-review

Abstract

This paper discusses the literature on sources and causes of growth among the Asian high growth performers since World War II (WWII). It is argued that the factor accumulation hypothesis cannot be used to explain the Asian growth miracle but that growth has been driven predominantly by R&D, the demographic transition and knowledge transfer from the developed countries. Furthermore, it is argued that due to scale effects in the ideas production function, the Asian high-growth economies are likely to grow at high rates in the future.

Original languageEnglish
Pages (from-to)1-24
Number of pages24
JournalInstitutions and Economies
Volume4
Issue number2
Publication statusPublished - 2012

Keywords

  • Asian growth miracles
  • Capital accumulation
  • Growth accounting
  • Schumpeterian growth
  • Technological progress

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