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East Asia
About: East Asia is a research topic. Over the lifetime, 17591 publications have been published within this topic receiving 274073 citations. The topic is also known as: Eastern Asia.
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27 Mar 2006
TL;DR: In this paper, a model of business groups and economic organization in South Korea and Taiwan is presented, where the interaction of authority and market power in the context of competitive economic activity is analyzed.
Abstract: Acknowledgments Introduction Part I. Business Groups and Economic Organization: 1. The problem of economic organization 2. Interpreting business groups in South Korea and Taiwan 3. A model of business groups: the interaction of authority and market power in the context of competitive economic activity 4. Economic organization in South Korea and Taiwan: a first test of the model Part II. Emergence and Divergence of the Economies: 5. The origins of capitalist economic organization 6. The rise of intermediary demand: a reassessment of the 'Asian miracle' 7. Global matching, demand responsiveness, and the emergence of divergent economies 8. Trade performance of South Korea and Taiwan: a second test of the model Conclusions Appendix A. Mathematical model of business groups Appendix B. Examples of differential pricing practices of Korean groups Appendix C. Hypothesis tests of the model Appendix D. The role of debt in the Korean financial crisis, 1997 References Index.
115 citations
TL;DR: The export booms in South Korea and Taiwan starting in the early 1960s are anomalous when compared with later export boom in other, non-east Asian countries such as Chile and Turkey.
Abstract: The export booms in South Korea and Taiwan starting in the early 1960s are anomalous when compared with later export booms in other, non-East Asian countries such as Chile and Turkey. First, these booms have taken place in the context of comparatively small changes in relative prices in favour of exportables. Second, they have been associated from the start with booms in investment. This paper offers an argument and a formal model to suggest that exports in East Asia may have been driven by an increase in the profitability of investment, with outward orientation a consequence of the investment boom rather than its instigator. In economies like South Korea and Taiwan, an increase in investment required an increase in imports of capital goods. Since savings rose alongside the desired investment, the investment boom was accompanied by a boom in both exports and imports. Moreover, this could happen with a relatively small change in the relative price of exportables.
114 citations
TL;DR: Advances in MS registries around the globe allow nationwide population-based studies and will allow worldly comparisons between the prevalence and incidence in different regions that are provided to monitor estimation.
Abstract: Background: Multiple sclerosis (MS) is one of the most common chronic immune-mediated diseases of the human central nervous system and an important cause of non-t
114 citations
TL;DR: In this article, the authors pointed out that if East Asia's growth was largely driven by capital accumulation with little technological progress, the return to capital should have fallen dramatically as capital accumulation encounters diminishing returns.
Abstract: The industrial revolution in several East Asian countries over the last three decades is one of the most important economic events in the postwar era. Several recent growthaccounting exercises have found that their extraordinary rate of output growth was due primarily to an equally impressive rate of factor accumulation, with little due to technological progress (see Alwyn Young, 1992, 1995; Jong-Il Kim and Lawrence Lau, 1994; Susan Collins and Barry Bosworth, 1996 ) . Since these studies suggest that factor accumulation has been the lead actor in East Asia’s growth, many economists have reached the conclusion that the industrial revolution in East Asia can largely be explained in terms of transition dynamics in a neoclassical growth framework (see e.g., Paul Krugman, 1994; N. Gregory Mankiw, 1995). If this view is correct, the lesson from East Asia’s experience is that there are no easy solutions for a poor country that seeks to join the league of wealthy nations. Low levels of investment and education may be the result of bad policies. But once proper policies are enacted, a poor country faces the grim prospect of a further decline in its already low standards of living as it devotes more resources to investment and education. The central point of this paper is that, if East Asia’s growth was largely driven by capital accumulation with little technological progress, the return to capital should have fallen dramatically as capital accumulation encounters diminishing returns. For example, the capital–output ratio for Korea computed from the national accounts has increased at an average rate of 3.4 percent per year from 1966 to 1990 while that of Singapore has increased at an average rate of 3.7 percent per year from 1968 to 1990. By dividing the share of payments to capital in total income by the capital–output
114 citations
114 citations