The Asian miracle and modern growth theory / Richard R. Nelson, Howard Pack, and the World Bank Nelson, Richard R

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Nelson, Richard R
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Economic Journal
Technological innovations - Economic aspects - East Asia.; East Asia - Foreign economic relations.; Economic development -- Research
Academic; Trade
A major change in the economic structures of Asian countries allowed these countries to experience rapid economic growth between 1960 and 1996. These changes included shifts in the size of companies and the sectors of specialization. Accumulation of capital and its productive assimilation were critical factors that spurred the so-called Asian miracle. Estimates of the impact of total factor productivity to total growth that bypass these phenomena may result in inaccurate estimates.
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