Economic Transition and Growth Dynamics in Asia: Harmony or Discord?

Article

Abstract

This paper studies whether the economic transitional and growth dynamic experiences of Asian economies are in harmony or discord so as to serve as a catalyst for, or a hindrance to, fostering regional economic cooperation and integration. Empirical evidence is derived from the application of a nonlinear time-varying factor convergence approach in conjunction with nonparametric distribution dynamics techniques. Results are in favor of growth convergence, but not level convergence, among the economies along their transition dynamic growth paths, and provide insights on issues that have significant bearing on the prospect of deepening regional economic cooperation and integration.

Keywords

Asia Convergence Growth Regional integration Transition 

JEL Classifications

C23 O47 O53 

Notes

Acknowledgements

We are grateful to an anonymous referee for suggesting additional conciliation of the methodologies employed, and a discussion on factors driving the convergence (or divergence) behavior of the economies. We are also indebted to Josef Brada, the editor, for his valuable comments. This research was supported by the Research Committee of the University of Macau under research grant no. MYRG2016-00170-FBA.

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Copyright information

© Association for Comparative Economic Studies 2018

Authors and Affiliations

  1. 1.Department of Finance and Business Economics, Faculty of Business AdministrationUniversity of MacauMacauChina

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