Sources of Economic Growth in East Asia: A Nonparametric Assessment
AbstractThe conventional growth-accounting approach to estimating the sources of economic growth requires unrealistically strong assumptions about either competitiveness of factor markets or the form of the underlying aggregate production function. This paper outlines a new approach utilizing nonparametric derivative estimation techniques that does not require imposing these restrictive assumptions. The results for East Asian countries show that output elasticities of capital and labor tend to be different from the income shares of these factors and that the growth of total factor productivity over the period 1960-95 has been an important factor in the overall growth performance of these countries. Copyright 2003, International Monetary Fund
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Bibliographic InfoArticle provided by Palgrave Macmillan in its journal IMF Staff Papers.
Volume (Year): 50 (2003)
Issue (Month): 2 ()
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Other versions of this item:
- Mohsin S. Khan & Shigeru Iwata & Hiroshi Murao, 2002. "Sources of Economic Growth in East Asia: A Nonparametric Assessment," IMF Working Papers 02/13, International Monetary Fund.
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
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