Estimates of the Steady State Growth Rates for Selected Asian Countries with an Extended Solow Model

MPRA Paper from University Library of Munich, Germany

Abstract: This paper develops an extended version of the Solow (1956) growth model in which total factor productivity is assumed a function of two important externalities viz., learning by doing and openness to trade. Using this framework we show that these externalities have played an important role to improve the long run growth rats of six Asian countries viz., Singapore, Malaysia, Thailand, Hong Kong, Korea and the Philippines. A few broad policies to improve their long run growth rates are suggested.

Keywords: Solow Growth Model; Endogenous Growth; Learning by Doing; Trade Openness; Steady State Growth Rate; Newly Developing Asian Countries (search for similar items in EconPapers)
JEL-codes: C01 C22 O11 O19 (search for similar items in EconPapers)
Date: 2008-07-25, Revised 2008-07-01
New Economics Papers: this item is included in nep-dev and nep-sea
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Journal Article: Estimates of the steady state growth rates for selected Asian countries with an extended Solow model (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:9724

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