NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Growth and Convergence in the Asia-Pacific Region: On the Role of Openness, Trade and Migration

Alan M. Taylor

NBER Working Paper No. 5276
Issued in September 1995
NBER Program(s):Development of the American Economy

This paper examines the relationship between openness, trade, and migration in the Asia-Pacific region during the post-1970 period. Conventional reduced-form empirical-growth specifications are augmented by an appeal to structural modelling, an extension that reveals a rich set of interactions between policy, distortions, factor accumulation and growth. A broad array of openness measures play a major role in the successful growth performance of the Asia-Pacific region, a key channel being the distortion-investment nexus. In contrast, the results suggest little role for migration as a quantitatively significant growth determinant, at least at the macro level, which is no surprise in this area of historically low net migration rates. However, I find that within-sample prediction for the Asia-Pacific region is harder to achieve -- 'good luck' as well as 'good policy' played a part.

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Document Object Identifier (DOI): 10.3386/w5276

Published:

  • International Trade and Migration in the APEC Region, ed. by P.J. Lloyd and L.S. Williams. Oxford Univ Press, 1997.
  • Lee, Michael, et al, 1998. "Growth Convergence: Some Panel Data Evidence," Applied Economics, Taylor and Francis Journals, vol. 30(7), pages 907-12, July.

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