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The tyranny of numbers: confronting the statistical realities of the East Asian growth experience

Young, Alwyn (1995) The tyranny of numbers: confronting the statistical realities of the East Asian growth experience. The Quarterly Journal of Economics, 110 (3). pp. 641-680. ISSN 0033-5533

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Identification Number: 10.2307/2946695

Abstract

This paper documents the fundamental role played by factor accumulation in explaining the extraordinary postwar growth of Hong Kong, Singapore, South Korea, and Taiwan. Participation rates, educational levels, and (excepting Hong Kong) investment rates have risen rapidly in all four economies. In addition, in most cases there has been a large intersectoral transfer of labor into manufacturing, which has helped fuel growth in that sector. Once one accounts for the dramatic rise in factor inputs, one arrives at estimated total factor productivity growth rates that are closely approximated by the historical performance of many of the OECD and Latin American economies. While the growth of output and manufacturing exports in the newly industrializing countries of East Asia is virtually unprecedented, the growth of total factor productivity in these economies is not.

Item Type: Article
Official URL: http://qje.oxfordjournals.org/
Additional Information: © 1995 President and Fellows of Harvard College and the Massachusetts Institute of Technology
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
Sets: Departments > Economics
Collections > Economists Online
Date Deposited: 06 Apr 2011 12:21
Last Modified: 30 May 2014 13:20
URI: http://eprints.lse.ac.uk/id/eprint/33903

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