What has luck got to do with economic development? An interpretation of resurgent Asia's growth experience

• Main Authors: LEUNG, Hing-Man, TAN, Swee Liang, YANG, Zhenlin
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2004
• Subjects: Asia; Luck; Growth; Learning-by-investing; Asian Studies; Growth and Development
• Online Access: https://ink.library.smu.edu.sg/soe_research/153; https://ink.library.smu.edu.sg/context/soe_research/article/1152/viewcontent/WhatHasLuckGotDowithEconomicDevelopment_pp.pdf
• Institution: Singapore Management University

This paper critically reexamines the belief, currently gathering strength in the literature, that economic development depends on good luck rather than on good policy, and that Prometheus is unchained by chance. While it is impossible to disprove the role of luck in growth, we argue that luck is end...