| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5086333 | Japan and the World Economy | 2012 | 12 Pages |
Abstract
⺠In this paper, we investigate sources of the fast capital accumulation in Asia and make projections for the future. ⺠Our approach is an estimation of a “convergence” equation for physical capital per capita. ⺠Our estimation is based on an open economy growth model. ⺠We find that the initially capital-poor Asian economies have benefited from the convergence effects. ⺠But other factors such as a low rule of law score and high investment goods prices have worked against them.
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Authors
Etsuro Shioji, Tuan Khai Vu,