Choi, Seung Mo (2010): Institutional Foundations for Economic Growth. Published in: Collection of Essays on the Issues of Asia No. 8 (2010): pp. 25-40.
Download (212kB) | Preview
A low-income economy tends to start catching up to advanced economies by adopting available useful knowledge from foreign economies after it conducts a certain form of institutional change. I argue that this institutional change is the one which enforces international interactions mainly by promoting manufacturing exports. It is not necessarily just to open up the economy to international trade. The Northeast Asian economies need to further promote the diffusions of knowledge, but as they further catch up other advanced economies, it will be increasingly important to construct an institution that protects patents, intellectual properties, and other useful ideas, so that research and development activities are encouraged as a fundamental source of economic growth. An international market to trade the knowledge needs to be further developed.
|Item Type:||MPRA Paper|
|Original Title:||Institutional Foundations for Economic Growth|
|Keywords:||Institution, Growth, International trade|
|Subjects:||O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development
O - Economic Development, Innovation, Technological Change, and Growth > O2 - Development Planning and Policy
O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity
|Depositing User:||Seung Mo Choi|
|Date Deposited:||15 Nov 2012 15:23|
|Last Modified:||29 May 2016 07:11|
Alcalá, Francisco, and Antonio Ciccone (2004), “Trade and Productivity,” Quarterly Journal of Economics, 119(2), 612-645. Alfaro, Laura, Sebnem Kalemli-Ozcan, and Vadym Volosovych (2008), Why Doesn’t Capital Flow from Rich to Poor Countries? An Empirical Investigation,” Review of Economics and Statistics, 90(2), 347-368 Choi, Seung Mo, Hwagyun Kim, and Xiaohan Ma (2010), “Learning by Exports,” unpublished manuscript. Choi, Seung Mo, Hyung Seok Keam, and Max St. Brown (2010), “Output Convergences after Unifications in Germany and in Korea,” unpublished manuscript. Frankel, Jeffrey A., and David Romer (1996), “Trade and Growth: An Empirical Investigation,” NBER Working Paper, 5476. Frankel, Jeffrey A., and David Romer (1999), “Does Trade Cause Growth?”, American Economic Review, 89(3), 379-399. Hall, Robert E., and Charles I. Jones (1999), “Why Do Some Countries Produce So Much More Output per Worker than Others?”, Quarterly Journal of Economics, 114, 83-116. Hausmann, Ricardo, Jason Hwang, and Dani Rodrik (2007), “What You Export Matters,” Journal of Economic Growth, 12(1), 1-25. Lucas, Robert E., Jr. (2009), “Trade and the Diffusion of the Industrial Revolution,” American Economic Journal: Macroeconomics, 1(1), 1-25. Luckstead, Jeffrey A., Seung Mo Choi, and Stephen Devadoss (2010), “A Decomposition of China’s Productivity Growth,” unpublished manuscript. Parente, Stephen L., and Edward C. Prescott (2000), Barriers to Riches (Boston, MA, USA: MIT Press). Sachs, Jeffrey D., and Andrew Warner (1995), “Economic Reform and the Process of Global Integration,” Brookings Papers on Economic Activity, 1995(1), 1-118. Young, Alwyn (1991), “Learning by Doing and the Dynamic Effects of International Trade,” Quarterly Journal of Economics, 106(2), 369-405.