The total factor productivity debate : determinants of economic growth in east Asia

K. Y., Edward CHEN

    Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

    88 Citations (Scopus)

    Abstract

    This survey article examines the recent studies of technological change or total factor productivity (TFP) as a source of growth in East Asian economies. The major objective of the paper is to show that in the end the importance of technological change in economic growth depends largely on how TFP is defined and measured. The conclusions drawn by Alwyn Young and Paul Krugman are based too much upon the assumption that all technological change is TFP. Section II reviews the conceptual and empirical literature on this subject since the 1950s. Section III surveys the TFP studies of East Asian economies, with particular reference to the recent claims that TFP is generally insignificant. Section IV discusses the prospects for East Asian economic growth and dispels the pessimism of such authors as Young and Krugman.
    Original languageEnglish
    Pages (from-to)18-38
    Number of pages21
    JournalAsian-Pacific Economic Literature
    Volume11
    Issue number1
    DOIs
    Publication statusPublished - 1 May 1997

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    total factor productivity
    economic growth
    productivity
    determinants
    technological change
    pessimism
    economy
    Asia
    Economic growth
    East Asia
    Total factor productivity
    Technological change

    Cite this

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    abstract = "This survey article examines the recent studies of technological change or total factor productivity (TFP) as a source of growth in East Asian economies. The major objective of the paper is to show that in the end the importance of technological change in economic growth depends largely on how TFP is defined and measured. The conclusions drawn by Alwyn Young and Paul Krugman are based too much upon the assumption that all technological change is TFP. Section II reviews the conceptual and empirical literature on this subject since the 1950s. Section III surveys the TFP studies of East Asian economies, with particular reference to the recent claims that TFP is generally insignificant. Section IV discusses the prospects for East Asian economic growth and dispels the pessimism of such authors as Young and Krugman.",
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    The total factor productivity debate : determinants of economic growth in east Asia. / CHEN, K. Y., Edward.

    In: Asian-Pacific Economic Literature, Vol. 11, No. 1, 01.05.1997, p. 18-38.

    Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

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