Title

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

Document Type

Journal article

Source Publication

Asian-Pacific Economic Literature

Publication Date

5-1-1997

Volume

11

Issue

1

First Page

18

Last Page

38

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.

DOI

10.1111/1467-8411.00002

Print ISSN

08189935

Publisher Statement

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Full-text Version

Publisher’s Version

Language

English

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