Barro and Sala-i-Martin （2004） analyzed the empirical determinants of growth. The data used in this paper consists of panel data of several macroeconomic variables observed for 55 years 0950-2004） in six East Asian...Barro and Sala-i-Martin （2004） analyzed the empirical determinants of growth. The data used in this paper consists of panel data of several macroeconomic variables observed for 55 years 0950-2004） in six East Asian countries and regions. Following the implications of semi-endogenous growth theory, the author regressed output growth on the determinants of steady-state income. The estimation and test results suggest the existence of significant relationship between steady-state income and （trend weighted） R ＆ D input both in Japan and South Korea. In addition, following Cellini （1995）, the author also considers cointegration and error-correction methods as the growth regression of East Asian countries. Meanwhile, Chang, et al （2004） derived the conclusion that the decreases in reallocation shocks are main factor in a downward trend in natural rate of unemployment for South Korea. The author extends this analysis using structural VAR to other Asian countries and regions, Japan and Taiwan region. Impulse responses show that the growth of production in Korea and Taiwan reduce unemployment, but, in Japan, this raises unemployment.展开更多
文摘Barro and Sala-i-Martin （2004） analyzed the empirical determinants of growth. The data used in this paper consists of panel data of several macroeconomic variables observed for 55 years 0950-2004） in six East Asian countries and regions. Following the implications of semi-endogenous growth theory, the author regressed output growth on the determinants of steady-state income. The estimation and test results suggest the existence of significant relationship between steady-state income and （trend weighted） R ＆ D input both in Japan and South Korea. In addition, following Cellini （1995）, the author also considers cointegration and error-correction methods as the growth regression of East Asian countries. Meanwhile, Chang, et al （2004） derived the conclusion that the decreases in reallocation shocks are main factor in a downward trend in natural rate of unemployment for South Korea. The author extends this analysis using structural VAR to other Asian countries and regions, Japan and Taiwan region. Impulse responses show that the growth of production in Korea and Taiwan reduce unemployment, but, in Japan, this raises unemployment.
