흡수능력과 공간의존성을 고려한 슘페터 기술 확산모형에서의 아시아 국가들의 소득수렴 검정

초록

In this study, we tested the income convergence hypothesis using the extended growth model of Ertur and Koch (2011) and Ertur and Koch (2007) of 11 Asian countries in the period 1970-2014. We use a panel spatial Durbin approach considering technology spillover and spatial interdependence. We found that there was a spatial dependence and income convergence among Asian economies. The estimated R&D coefficients on total economic growth rate and total factor productivity were significant, supporting the Schumpeter technology diffusion model. Total factor productivity combined with human capital was the most important absorptive capacity variable, and the rate of convergence between countries was also faster in this case. In the expanded MRW model, not only the human capital but also the total factor productivity and trade freedom degree were all significant factors and showed a useful model to explain Asian economic growth and development. The convergence rate in MRW model was faster than the Schumpeter technology diffusion model. There was no significant difference between the two models in explaining the economic growth of Asia and it was confirmed that it converged to the long-term steady-state.

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