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Growth Potential in Emerging Countries

In: International Macroeconomics in the Wake of the Global Financial Crisis

Author

Listed:
  • Enrica Di Stefano

    (Directorate General for Economics, Statistics and Research, International Relations and Economics Directorate)

  • Daniela Marconi

    (Directorate General for Economics, Statistics and Research, International Relations and Economics Directorate)

Abstract

We examine the growth performance of six emerging economies (Brazil, China, India, Indonesia, Russia and Turkey) over the last two decades to discuss whether domestic structural constraints are affecting their present and future growth potential. In order to better assess the determinants of the recent synchronized slowdown of these economies, we concentrate on the dynamics of labour productivity and of employment. We find that the ongoing slowdown in EMEs is largely structural, but there is still ample room for catching up in terms of output composition, reallocation of labour across sectors and within-sector productivity improvements. The scope for further reform and reform priorities differs across countries. In the longer run other structural factors will weigh on potential growth, particularly the evolution of the size and quality of the labour force.

Suggested Citation

  • Enrica Di Stefano & Daniela Marconi, 2018. "Growth Potential in Emerging Countries," Financial and Monetary Policy Studies, in: Laurent Ferrara & Ignacio Hernando & Daniela Marconi (ed.), International Macroeconomics in the Wake of the Global Financial Crisis, pages 43-57, Springer.
    • Handle: RePEc:spr:fimchp:978-3-319-79075-6_3
    DOI: 10.1007/978-3-319-79075-6_3
    as

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