Capital Accumulation or Technology Assimilation: A Critique of Two Perspectives on the East Asian Economic Miracle

"资本积累论"认为要素投入是东亚经济奇迹的原因;"技术消化论"认为技术进步是原因。"资本积累论"和"技术消化论"的分歧,源于二者对全要素生产率方法和后发国家技术进步的不同看法。"资本积累论"有统计数据和方法论方面的缺陷,并且与经济事实相悖。"资本积累论"与新古典经济学一脉相承,其增长核算模型对后发国家的适用性值得思考。"技术消化论"继承熊彼特式技术演化的研究方法,比"资本积累论"的纯粹数理分析更接近现实。According to the theory of capital accumulation, investment of key elements accounts for the East Asian Economic Miracle (EAEM), but according to the theory of technology assimilation, the cause of EAEM is technology development. This divergence results from their different views regarding all-details productivity methodology and latecomers' technology development. The theory of accumulation has defects in statistics and methodology and is contrary to economic reality. The theory of accumulation shares the same theoretical foundations with Neoclassical Economics, and the applicability of its growth accounting model to the latecomers is worth rethinking. The theory of technology assimilation developed out of the methodology of technology evolution reflects economic reality better than the theory of capital accumulation using pure mathematical analysis