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Introduction

A Theory For Catching Up
  • Henry Y. WanJr.

Abstract

For the five-sixths of mankind living in the developing world today, the late 20th century has brought reason for both distinct hope and gnawing concern. Over the last fifty years, some developing economies achieved the fastest growth rates ever seen in human history — in the course of a single generation joining the ranks of countries enjoying the highest levels of per capita income in the world. Other developing economies, however, have been left on the wrong side of a widening income gap; the world seems to have passed them by.1

Keywords

Capita Income Globalized Environment Capital Formation Technology Spillover Export Promotion 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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References

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    Or to seize opportunity and deflect setbacks, as was done in Hong Kong. See Findlay and Wellisz (1993: 19-22).Google Scholar
  2. 4.
    To grasp quickly the crux of the matter, one can consult Bhagwati (1999). To see how the same facts have led to a quite different interpretation, the passionate argument of Amsden (1999) — who equally advocates trade — provides a useful example. Our own discussion of the evidence is presented throughout this volume.Google Scholar
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    Lucas attributed the differences in growth performance to the public good nature of knowledge, a theme started with Shell (1966) and Romer (1986). In this we concur. We further believe that the fact that sustained rapid growth only occurred in economies during their mid-income phase suggests this growth represents the cross-economy spillover of knowledge capital. Such growth is a feat that has not been replicated in already technically advanced economies. Likewise, the literature on endogenous growth offers stimulation but not answers to most of the operational questions about the catching up process.Google Scholar
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Copyright information

© Springer Science+Business Media New York 2004

Authors and Affiliations

  • Henry Y. WanJr.

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