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Growth and Convergence in the Asia-Pacific Region: On the Role of Openness, Trade and Migration

45 Pages Posted: 3 Sep 2000  

Alan M. Taylor

University of California, Davis - Department of Economics; University of Virginia - Department of Economics; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Date Written: September 1995

Abstract

This paper examines the relationship between openness, trade, and migration in the Asia-Pacific region during the post-1970 period. Conventional reduced-form empirical-growth specifications are augmented by an appeal to structural modelling, an extension that reveals a rich set of interactions between policy, distortions, factor accumulation and growth. A broad array of openness measures play a major role in the successful growth performance of the Asia-Pacific region, a key channel being the distortion-investment nexus. In contrast, the results suggest little role for migration as a quantitatively significant growth determinant, at least at the macro level, which is no surprise in this area of historically low net migration rates. However, I find that within-sample prediction for the Asia-Pacific region is harder to achieve -- 'good luck' as well as 'good policy' played a part.

Suggested Citation

Taylor, Alan M., Growth and Convergence in the Asia-Pacific Region: On the Role of Openness, Trade and Migration (September 1995). NBER Working Paper No. w5276. Available at SSRN: https://ssrn.com/abstract=225340

Alan Taylor (Contact Author)

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