East Asian Economic Growth—An Evolutionary Perspective

Fariba Hashemi

doi:10.4236/jssm.2011.43033

Abstract

The High Performing Asian Economies have been the fastest growing economies anywhere, anytime. This phenomenal growth experience has stimulated extensive research on its determinants. What is less known however, is dynamics of the distribution of income. This paper considers a statistical model to describe convergence of cross-country incomes across the High Performing Asian Economies. The empirical results illustrate that diffusion is a potential technique for the analysis of spatial dynamics of economic growth.

Highlights

The High-Performing Asian Economies (HPAE) have been the fastest growing economies anywhere, anytime1
The empirical results illustrate that diffusion is a potential technique for the analysis of spatial dynamics of economic growth
Compared to large parts of Asia, Africa and Latin America, the High Performing Asian Economies have been unusually successful at achieving high growth rates

Summary

Introduction

The High-Performing Asian Economies (HPAE) have been the fastest growing economies anywhere, anytime. Compared to large parts of Asia, Africa and Latin America, the High Performing Asian Economies have been unusually successful at achieving high growth rates. At the same time that the HPAE were growing at over 5.5%, richer industrial economies were growing at around 2%, South Asia likewise at 2%, and Latin America at 1%. The growth experience of East Asia has stimulated extensive research on its determinants [1,2,3,4,5]. What is less known is the dynamics in question To fill this gap, the present paper examines the dynamics in the cross-sectional distribution of income in High Performing Asian Economies

The Model

Data and Descriptive Statistics

Findings

Estimation