Can second-generation endogenous growth models explain the productivity trends and knowledge production in the Asian miracle economies?

Vol: 
05/2010
Author name: 
Ang JB
Madsen JB
Year: 
2010
Month: 
January
Abstract: 

Using data for six Asian miracle economies over the period from 1953 to 2006, this paper examines the extent to which growth has been driven by R&D and tests which second-generation endogenous growth model is most consistent with the data. The results give strong support to Schumpeterian growth theory but only limited support to semi-endogenous growth theory. Furthermore, it is shown that R&D has played a key role for growth in the Asian miracle economies.

Publication file: 

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