COMMENTS ON KIM AND LAU'S “THE SOURCES OF ECONOMIC GROWTH OF THE NEWLY INDUSTRIALIZED COUNTRIES OF THE PACIFIC RIM”

In this paper Mr. Kim and Professor Lau used an aggregate meta-production function to study the source of economic growth of the four Newly Industrialized Countries and compared them to that of five highly industrialized countries. The economic growth rates in these countries were decomposed and attributed to three factors: growth in capital, growth in labor and technical progress. The paper consisted of the three parts: first was the theoretical framework of meta production functions, second was the description of handling data, and the third part was the empirical work and results.