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The Economics of Rapid Growth

The Experience of Japan and Korea

In The Economics of Rapid Growth, Dirk Pilat uses catch up theory to explain why countries with lower levels of income can use the technology of more advanced economies to foster growth and industralisation. His analysis emphasises the importance of pre-existing education levels, financial and commercial institutions and infrastructure to explain the rapid economic growth of Japan and Korea. A growth accounting framework is used to show the contribution of capital, labour and land to the rapid economic growth from the early 1950s. This growth is put in an international perspective by detailed sectoral productivity comparisons which include discussion of some of the measurement problems implicit in international comparisons. The final parts of the book look at the links between productivity and competitiveness, as well as the role of trade policy and exports in productivity growth. This acclaimed new book will be widely read by researchers, students and policy makers concerned with growth, development and the emergence of two of the most powerful economies in the modern world.

problem here is that information on prices and quantities of inputs is even more
difficult to derive than information on output prices and quantities. For the
agricultural sector some detailed double deflated estimates have been made (
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