Title

Structural transformation and economic growth in Hong Kong : another look at young's Hong Kong thesis

Document Type

Journal article

Source Publication

Journal of Comparative Economics

Publication Date

1-1-2001

Volume

29

Issue

2

First Page

366

Last Page

382

Keywords

Deindustrialization, Growth accounting, Hong Kong, Total factor productivity growth

Abstract

Hong Kong registered high total factor productivity (TFP) growth until the 1980's. Its output growth since the mid-1980's has been driven by the cross-regional division of labor in which Hong Kong relocated manufacturing to mainland China and provided support and entrepôt trade services mainly in the form of service exports. However, TFP growth rate has been low in the booming services sector and high in the declining manufacturing sector, leading to a significant slowdown in overall TFP growth during the 1990's. Because of the deceleration in the growth rate of service exports since the mid-1990's and the greatly reduced size of the manufacturing sector, Hong Kong's potential output growth rate appears to have dropped significantly. J. Comp. Econ., June 2001, 29(1), pp. 366-382. Lingnan University, Tuen Mun, Hong Kong. Copyright 2001 Academic Press. Journal of Economic Literature Classification Numbers: O11, O47, O53.

DOI

10.1006/jcec.2001.1716

Print ISSN

01475967

Publisher Statement

Copyright © 2001 Academic Press. Access to external full text or publisher's version may require subscription.

Full-text Version

Publisher’s Version

Language

English

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