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dc.contributor.authorHsieh, Wen-jenen_US
dc.date.accessioned2011-10-25en_US
dc.date.accessioned2011-12-15T12:28:01Z-
dc.date.available2011-12-15T12:28:01Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/53750-
dc.description.abstractThe collapse of exports that has attended the current global economic recession threatens the export-led economic growth of the four Asian dragons. To better understand the economic performances and future prospects of the four dragons, this paper first examines the economic structural changes that have taken place in Hong Kong, China; the Republic of Korea; Singapore; and Taipei,China, as well as the gradual shifting of the sources of economic growth away from the manufacturing sector and toward the service sector. Following this, a panel data set for the four dragons for the period 1995-2008 is constructed and a fixed-effects model applied to the data. The estimated coefficients deriving from the application of the model indicate that growth in the service sector, exports, and gross fixed capital formation each have a positive and statistically significant impact on economic growth. While the estimated coefficient is not significant, there is also a hint of a positive causal relationship between manufacturing sector growth rates and GDP. The empirical results confirm the shifts observed in industrial structures and the contribution of the service sector to economic growth. New service development (NSD), which integrates manufacturing output with high value-added services, is anticipated to be a new engine for economic growth and deserves more attention, especially in the realm of government policymaking within the four Asian dragons.en_US
dc.language.isoengen_US
dc.publisherAsian Development Bank Institute Tokyoen_US
dc.relation.ispartofseriesADBI working paper series 315en_US
dc.subject.jelF01en_US
dc.subject.jelE6en_US
dc.subject.jelO12en_US
dc.subject.ddc330en_US
dc.subject.stwExportinduziertes Wachstumen_US
dc.subject.stwIndustriestrukturen_US
dc.subject.stwWeltkonjunkturen_US
dc.subject.stwSchocken_US
dc.subject.stwWirtschaftliche Anpassungen_US
dc.subject.stwHongkongen_US
dc.subject.stwSüdkoreaen_US
dc.subject.stwSingapuren_US
dc.subject.stwTaipehen_US
dc.titleThe global economic recession and industrial structure: Evidence from four Asian dragonsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn670485918en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:ADBI Working Paper Series, Asian Development Bank Institute

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