Economic Development with Special Reference to East Asia

Golden Age growth models cannot incorporate technical progress except in extremely unrealistic forms. As it is now commonly argued that technical progress in the widest sense has been the major part of growth, this means that modern growth models are still a very long way from describing growth as it actually happens. This paper,

because of its complexity, was the only occasion in which the author was invited to use most of the time of the session in elucidating the arguments. This was one reason why the discussion was short, but perhaps another reason was that a Conference composed mainly of applied economists was not disposed to quarrel with the view that theorists still had a very long way to go before they could deal with reality.

东亚经济发展黄金时代的增长模式除了以极不现实的形式外，不能包含技术进步。现在人们普遍认为，最广泛意义上的技术进步是增长的主要部分，这意味着现代增长模型离描述实际增长还有很长的路要走。这篇论文，由于其复杂性，是唯一一次邀请提交人利用会议大部分时间阐述论点的场合。这是讨论时间短的一个原因，另一个原因是，一个主要由应用经济学家组成的会议不愿意反驳这样一种观点，即理论家在处理现实问题之前还有很长的路要走。