Beyond "Miracles" and total factor productivity: the Singapore experience

Article Abstract:

An analysis of the miraculous growth phenomenon observed in Singapore shows that the concept of total factor productivity (TFP) fails to explain the potential and sustainability of Singapore's growth. The rapid growth of East Asian economies and positive projections has caused concern in the West. Paul Krugman, an economist, has associated dismal TFP growth with slowing down of East-Asian economies. However, these economies are uncomparable as they have diverse adaptive factors. Consideration of adaptive factor improvements, and empirical analysis of Singapore's growth shows disparities in TFP results.

Measurement, Singapore, Beliefs, opinions and attitudes, Hong Kong, Economists, Industrial productivity

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Linkages among the ASEAN economies: a multi-country model analysis

Article Abstract:

A study of the economic linkage between the member economies of Association of Southeast Asian Nations (ASEAN) shows that it is a bloc where one subregional growth triangle gives impetus to another. The multicountry Johansen-type economic model indicates that cross-country effects of fiscal or monetary policy are small and the orientation of ASEAN is external for markets and technology. However, a great scope exists to project their complementarity to emerge as a powerful force in the world. The variables used include employment, imports and capital accumulation.

Models, Membership, Econometrics, International economic relations, Association of Southeast Asian Nations

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The strategic dimension of the "East Asian Developmental States."

Article Abstract:

An analysis describing the economic development of several East Asian countries is presented. South Korea, Singapore, Malaysia, Thailand and Indonesia exhibit similar economic trends that they have been collectively called East Asian developmental states. It is shown that state capacity, mixed-market economies, outward-looking orientation, effective macro-economic policies and efficient infrastructure boosted development strategies. In addition, government intervention in business has been part of these countries' economic growth.

Industry regulations, Government regulation of business, Trade regulation, Asia, Eastern

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