Term Paper Writing Help | College Essay | Resume | Research Paper Writing | Thesis | Dissertation Writing

Excerpt from :

The Economic Growth Phenomenon of Eastern Asia Growth Accounting Exercises and their Implications regarding Growth Theory

......
Factor accumulation includes all those elements that go into production, including human capital, physical capital, knowledge. Young details the types of factor accumulation that have occurred in these four countries as the basis for his argument that the economic growth and development in these nations has been predicated on factor accumulation more than any other reason

Young lists the important elements of factor accumulation in these nations as follows:

Labor input, primarily as a result of the increasing level of female participation in the workforce (which is in turn the result of a lowered birthrate)

Transfer of labor from one economic sector to another, that is from agricultural to industrial economic activity

Capital input has grown rapidly in the for countries: although the investment to GDP ratio has remained roughly constant in Hong Kong, in the other NICs it has risen substantially over time.

Rapid human capital accumulation, which the percentage of workers with a secondary education or more in each country almost tripling. Young notes and this is an essential transition to my discussion of his overall assessment of growth in these nations that this increase in human capital in terms of increased education can be