Cover IMF Working Papers
Buy Book in Print
East Asian Growth Before and After the Crisis
Author:
Mr. N. F. R. Crafts null

Search for other papers by Mr. N. F. R. Crafts in
Current site
Google Scholar Close
Series:
IMF Working Papers
Volume/Issue:
Volume 1998: Issue 137
Language:
English
Publication Date:
01 Sep 1998
DOI:
https://doi.org/10.5089/9781451855883.001
ISBN:
9781451855883
ISSN:
1018-5941
Pages:
45
Keywords:
WP; TFP growth; diminishing returns; productivity gap; real GDP; financial crisis; TFP benchmark; TFP level; TFP estimate; Total factor productivity; Public expenditure review; Productivity; Labor productivity; East Asia; Western Europe; Europe; Asia and Pacific
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Download PDF (806.3 KB) Download Epub
This paper surveys the literature on the growth performance of the east Asian economies in recent decades, evaluates the sustainability of that performance, and provides a preliminary assessment of their long-term growth prospects in the aftermath of the current crisis. It highlights three special aspects of east Asian growth: unusually high factor accumulation, a favorable demographic transition, and the impact of rapid growth on financial and other institutions. The paper argues that there are downside risks to the east Asian “developmental state” model, despite its favorable attributes, and that an alternative model may become more attractive as these economies mature.
  • Collapse
  • Expand
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund