Homework #2

-Questions and Answers-

Ryoichi Imai

2004/10/25

Due: Wednesday, November 24, 2004.

The purpose of this homework is to provide an opportunity to have your own understandings of the reading materials in ahead of the class discussion. Type your answers on A4 papers.  At the top of your homework, type your name and e-mail address.

Q. Answer the following questions, based on the article `A Short Course in Miracles: Asia before the Crisis', by Paul Krugman.  The numbers in ( ) represent the corresponding pages. Write your answers in your own words. Never copy a large part of the paragraph, even if you do not know the answer. 

  1. Write a brief history of the industrialization of the western countries, Japan, and Asian countries. What properties are observed from the history? (22)

  2. What are the four Tigers (or Dragons)? (22) 

  3. "Rising labor productivity is the result of inspiration as well as perspiration." Explain the meaning of this sentence in words of economics. (28)

  4. What is the TFP? How can one compute the TFP? What did Robert Solow say about the TFP growth of the United States? (29)

  5. What did the American researchers find in the growth of the Soviet Union in 1950s and early 1960s? (30)

  6. What did Alwyn Young find about the growth pattern of Singapore and Hong Kong? What is their difference? (31)

  7. According to the World Bank's report, what can be said about each Asian country in terms of productivity growth? (33)

  8. Why does the low productivity growth in Asian matter? (33)

  9. What characterizes the corporate governance of Asian economies? (37)

  10. What do you think about this article? Describe your own idea.