High Performing Asian Economies
22 Pages Posted: 24 Sep 2004 Last revised: 19 Nov 2022
Date Written: September 2004
Abstract
To American and European economists in 1945, the countries of Asia were unpromising candidates for high economic growth. In 1950 even the most prosperous of these countries had a per capita income less than 25 percent of that of the United States. Between the mid-1960s and the end of the twentieth century, however, many of the countries of South and Southeast Asia experienced vigorous economic growth, some with growth rates far exceeding the previous growth rates of the industrialized countries. Forecasts that the region's population growth would outstrip its capacity to feed itself, and that its economic growth would falter, proved to be incorrect. Growth rates will probably continue at high levels in Southeast Asia for at least another generation. This forecast is based on 4 factors: the trend toward rising labor force participation rates, the shift from low to high productivity sectors, continued increases in the educational level of the labor force, and other improvements in the quality of output that are at present not accurately measured in national income accounts.
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Long-Term Trends in Health, Welfare, and Economic Growth in the United States
By Dora L. Costa and Richard H. Steckel
-
The Health of Nations: The Contribution of Improved Health to Living Standards
-
The Health of Nations: The Contribution of Improved Health to Living Standards
-
By David M. Cutler, Mark B. Mcclellan, ...
-
The Incidence of Adverse Medical Outcomes Under Prospective Payments
-
The Determinants of Technological Change in Heart Attack Treatment
By David M. Cutler and Mark B. Mcclellan
-
Payer Type and the Returns to Bypass Surgery: Evidence from Hospital Entry Behavior
By Michael Chernew, Gautam Gowrisankaran, ...