A tale of two cities: factor accumulation and technical change in Hong Kong and Singapore
A Young - NBER macroeconomics annual, 1992 - journals.uchicago.edu
This paper uses a case study of Hong Kong and Singapore, two of the fastest growing
economies in the postwar world, to evaluate competing theories of economic growth.
Although broadly similar in historical background and economic structure, the two
economies are strikingly different along three dimensions of interest to growth theorists:(1)
Hong Kong began the postwar era with a considerably better educated labor force;(2) the
subsequent accumulation of human and physical capital in Singapore far exceeds that in …
economies in the postwar world, to evaluate competing theories of economic growth.
Although broadly similar in historical background and economic structure, the two
economies are strikingly different along three dimensions of interest to growth theorists:(1)
Hong Kong began the postwar era with a considerably better educated labor force;(2) the
subsequent accumulation of human and physical capital in Singapore far exceeds that in …