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Title: Can the rest of East Asia catch up with Japan: Some empirical evidence
Authors: Zhang, Z. 
Keywords: Convergence club
East Asian region
Economic growth
Issue Date: 2003
Citation: Zhang, Z. (2003). Can the rest of East Asia catch up with Japan: Some empirical evidence. Japan and the World Economy 15 (1) : 91-110. ScholarBank@NUS Repository.
Abstract: By applying the combined endogenous grow/diffusion model, we find strong and robust evidence of the existence of multiple convergent equilibria across the 10 East Asian economies in 1960-1997. The main conclusion is that, with the assumption of the same source of technology diffusion for all economies, East Asia will have in the long run the same growth rate as that of the leader (Japan), but with two mutually exclusive convergence clubs. This has important implications for an economy when forming its development policy to catch up on its target leaders. © 2002 Elsevier Science B.V. All rights reserved.
Source Title: Japan and the World Economy
ISSN: 09221425
DOI: 10.1016/S0922-1425(01)00078-0
Appears in Collections:Staff Publications

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