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American Economic Journal: Macroeconomics: Vol. 2 No. 3 (July 2010)
AEJ: Macro Volume. 2, Issue 3 | 
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AEJ: Macro Forthcoming Articles
Confucianism and the East Asian Miracle
Article Citation
Liang, Ming-Yih. 2010. "Confucianism and the East Asian Miracle."
American Economic Journal: Macroeconomics,
2(3): 206-34.
DOI: 10.1257/mac.2.3.206
DOI: 10.1257/mac.2.3.206
Abstract
We examine two behavioral traits essential to Confucianism, and put forward hypotheses as to whether these behavioral traits impede or are conducive to "leading" or "follower" mode growth. A dynamic leader-follower general equilibrium model with appropriately specified "Confucian" parameters is shown to generate results that correspond to some of the main features of East Asian economies: their
miracle growths, subsequent slowdowns, trade surpluses, and persistent accumulations of foreign exchange reserves. We calibrate the model to assess the quantitative importance of these cultural effects and examine their implications for future evolution of these economies. (JEL E23, O17, O41, O47, P24, Z12, Z13)
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Full-text Article
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Download Data Set (18.76 KB) | Online Appendix (148.21 KB)
Authors
Liang, Ming-Yih (National Taiwan U)
JEL Classifications
E23: Macroeconomics: Production
O17: Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
O41: One, Two, and Multisector Growth Models
O47: Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
P24: Socialist Systems and Transitional Economies: National Income, Product, and Expenditure; Money; Inflation
Z12: Cultural Economics: Religion
Z13: Economic Sociology; Economic Anthropology; Social and Economic Stratification
O17: Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
O41: One, Two, and Multisector Growth Models
O47: Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
P24: Socialist Systems and Transitional Economies: National Income, Product, and Expenditure; Money; Inflation
Z12: Cultural Economics: Religion
Z13: Economic Sociology; Economic Anthropology; Social and Economic Stratification
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