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Catching Up and Convergence: Long‐run Growth in East Asia

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  • Frank S.T. Hsiao
  • Mei‐Chu W. Hsiao

Abstract

The paper attempts to combine the traditional learning model with the recent theory of economic growth using Maddison's long‐run real GDP per capita data of the three fastest growing countries in East Asia: Korea, Taiwan, and Japan. The authors first explain games of catching‐up among nations, and then explain the learning coefficients of Taiwan and Korea with Japan and the United States through periods before and after World War II. The model of leaning leads to the logistic model of economic growth of convergence between two countries. Using time‐series data, the coefficients of a logistic model are estimated to confirm that the real GDP per capita of Taiwan and Korea are converging to that of Japan and the United States, respectively. Similarly, Japan's GDP per capita converges to that of the United States. The time required for finite convergence for these countries is also estimated.

Suggested Citation

  • Frank S.T. Hsiao & Mei‐Chu W. Hsiao, 2004. "Catching Up and Convergence: Long‐run Growth in East Asia," Review of Development Economics, Wiley Blackwell, vol. 8(2), pages 223-236, May.
    • Handle: RePEc:bla:rdevec:v:8:y:2004:i:2:p:223-236
    DOI: 10.1111/j.1467-9361.2004.00229.x
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    References listed on IDEAS

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    1. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 407-437.
    2. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    3. Jonathan Temple, 1999. "The New Growth Evidence," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 112-156, March.
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    Cited by:

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    2. Ruble, Isabella, 2017. "European Union energy supply security: The benefits of natural gas imports from the Eastern Mediterranean," Energy Policy, Elsevier, vol. 105(C), pages 341-353.
    3. Amat Adarov & Mario Holzner & Luka Sikic, 2016. "Backwardness, Industrialisation and Economic Development in Europe," wiiw Balkan Observatory Working Papers 123, The Vienna Institute for International Economic Studies, wiiw.
    4. Demierre, Jonathan & Bazilian, Morgan & Carbajal, Jonathan & Sherpa, Shaky & Modi, Vijay, 2015. "Potential for regional use of East Africa’s natural gas," Applied Energy, Elsevier, vol. 143(C), pages 414-436.
    5. Kenichi SHIMAMOTO, 2017. "Examining The Existence Of Co2 Emission Per Capita Convergence In East Asia," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 11-28, December.
    6. Zaytsev, Alexander, 2014. "Душевой Ввп И Производительность Труда В России: Было Ли Догоняющее Развитие? [Russia`s per capita and per hour GDP dynamics: have we seen the cathing-up?]," MPRA Paper 56312, University Library of Munich, Germany.
    7. Masaki Nakabayashi, 2014. "Special Issue: Issues in Asia. Guest Editor: Laixun Zhao," Review of Development Economics, Wiley Blackwell, vol. 18(2), pages 254-271, May.
    8. Maryam Ishaq, 2020. "Regional Economic Integration and Productivity Convergence: Empirical Evidence from East Asia," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 25(2), pages 23-53, July-Dec.
    9. Koji Kitaura & Akira Yakita, 2010. "School Education, Learning‐by‐Doing, and Fertility in Economic Development," Review of Development Economics, Wiley Blackwell, vol. 14(4), pages 736-749, November.

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