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

Publication | October 2020

This paper analyzes the economic growth patterns of Japan, the People’s Republic of China (PRC), and the Republic of Korea. It finds a striking similarity between the growth experiences of the PRC 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.

Contents 

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

Additional Details

Authors
Type
Series
Subjects
  • Economics
Countries
  • China, People's Republic of
  • Japan
  • Korea, Republic of
Pages
  • 48
Dimensions
  • 8.5 x 11
SKU
  • WPS200276-2
ISSN
  • 2313-6537 (print)
  • 2313-6545 (electronic)

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