Trajectories to High Income: Growth Dynamics in Japan, the People’s Republic of China, and the Republic of Korea

Japan and the Republic of Korea quickly graduated from middle-income to high-income status and offer valuable lessons for the PRC. This paper uses Cobb–Douglas production functions to assess the long-run equilibrium relationships between per capita gross domestic product, capital, and labor by means of cointegrated vector autoregressive models.

  • Introduction
  • Literature Review
  • Empirical Analyses
  • Conclusion
  • Appendix

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