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