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This paper develops a method for interpreting growth accounting studies in terms of the neoclassical growth model. In particular it shows that the growth accounting contribution of capital reflects the distance of the economy from its steady state income level. The method is applied to studies...
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The East Asian miracle was real. Prior to the 1997 economic and currency crises, Asian NICs Hong Kong, Korea, Singapore … determined by the industrial development triggered by changes in domestic demand, increases in FDI, intensive innovation efforts … examines the applicability of the development stage theory for explaining the growth dynamics of industrial production in Asian …
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