Export performance of the Asian miracle economies: The role of innovation and product variety

摘要

Traditional export models fall short of explaining the marked increase in exports of the Asian miracle economies in the post-WWII period. A model showing that exports are driven by innovations, innovative competitiveness, demand and price competitiveness is estimated for China, India, Korea, Japan, Singapore and Taiwan over the period 1953-2010. The results demonstrate that innovation stocks and competitiveness are important determinants behind their success. Furthermore, innovation stocks and innovative competitiveness are shown to be less influential for export growth in China and India and their export booms have been fuelled by process rather than product innovation.