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The Anatomy of the Asian Take-off

Author

Listed:
  • Jakob B. Madsen*

    (Department of Economics Monash University, Australia)

  • Md. Rabiul Islam

    (Department of Economics Monash University, Australia)

Abstract

This paper discusses the literature on sources and causes of growth among the Asian high growth performers since 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.

Suggested Citation

  • Jakob B. Madsen* & Md. Rabiul Islam, 2012. "The Anatomy of the Asian Take-off," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 4(2), pages 1-24, July.
    • Handle: RePEc:umk:journl:v:4:y:2012:i:2:p:1-24
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Asian growth miracles; capital accumulation; growth accounting; Schumpeterian growth; technological progress;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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