Fixed Costs , Imperfect Competition and Bias in Technology Measurement : Japan and the United States

  title={Fixed Costs , Imperfect Competition and Bias in Technology Measurement : Japan and the United States},
  author={Kiyohiko G. Nishimura and Masato Shirai},
The phenomenal success of East Asian economies has centered attention on the source of their economic growth. Recent studies based on neoclassical theory have produced controversial results: the most important source of economic growth of the East Asian countries (except Japan) is capital accumulation, and the estimated rate of technological progress is very small and, in some cases, substantially negative (see Tsao (1985), Kim and Lau (1994), Young (1994), and Park and Kwon (1995)). Based on… CONTINUE READING

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