A New Look at the Determinants of Growth in Asian Countries

Author/Editor:

Janet Gale Stotsky ; Manuk Ghazanchyan ; Qianqian Zhang

Publication Date:

September 3, 2015

Electronic Access:

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Summary:

This study examines the drivers of growth in Asian countries, with focus on the role of investment, the exchange rate regime, financial risk, and capital account openness. We use a panel data set of a sample of Asian countries over the period 1980 to 2012. Our results indicate that private and public investments are strong drivers of growth, while more limited evidence is found that reduced financial risk and higher foreign direct investment support growth. The exchange rate regime does not appear to be a strongly significant determinant of growth, but some specifications suggest that more flexible regimes are beneficial in this respect. Financial crises have a stronger dampening effect on growth in countries with more open capital accounts.

Series:

Working Paper No. 15/195

Subject:

English

Publication Date:

September 3, 2015

ISBN/ISSN:

9781513524535/1018-5941

Stock No:

WPIEA2015195

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

33

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