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The sources of long-term economic growth in Indonesia, 1880-2007

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  • Pierre van der Eng

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Abstract

This paper initiates discussion about the contribution of Total Factor Productivity (TFP) growth to Indonesia’s long-term economic growth. It presents new time series estimates of GDP, capital stock and education-adjusted employment, and offers a growth accounting approach that estimates the contribution of conventional factor inputs to GDP growth during 1880-2007. For most of the period, the growth of employment, educational attainment and particularly capital stock explained almost all of long-term output growth, and TFP growth was marginal. During the key growth periods 1900-29 and 1967-97, TFP growth was on balance negative, respectively marginally positive. However, the contribution of TFP growth was substantial during some sub-periods, particularly 1933-41, 1951-61, 1967-73 and 2000-07. Each of these followed a major economic downturn that slowed capital stock growth and required a more efficient use of productive resources, assisted by changes in economic policy and institutions that enhanced productivity and efficiency.

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Bibliographic Info

Paper provided by Australian National University, College of Business and Economics, School of Economics in its series ANU Working Papers in Economics and Econometrics with number 2008-499.

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Length: 35 Pages
Date of creation: Dec 2008
Date of revision:
Handle: RePEc:acb:cbeeco:2008-499

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  1. H. Aswicahyono & H. Hill, 2002. "'Perspiration' vs 'Inspiration' in Asian Industrialisation: Indonesia Before the Crisis," Journal of Development Studies, Taylor & Francis Journals, vol. 38(3), pages 138-163.
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  3. Drysdale, Peter & Huang, Yiping, 1997. "Technological Catch-up and Economic Growth in East Asia and the Pacific," The Economic Record, The Economic Society of Australia, vol. 73(222), pages 201-11, September.
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  10. Jesus Felipe, 1999. "Total factor productivity growth in East Asia: A critical survey," Journal of Development Studies, Taylor & Francis Journals, vol. 35(4), pages 1-41.
  11. van der Eng, Pierre, 1992. "The real domestic product of Indonesia, 1880-1989," Explorations in Economic History, Elsevier, vol. 29(3), pages 343-373, July.
  12. Pierre van der Eng, 2008. "Labour-Intensive Industrialisation in Indonesia, 1930-1975: Output Trends and Government Policies," Departmental Working Papers 2008-20, The Australian National University, Arndt-Corden Department of Economics.
  13. Nicholas Crafts, 2003. "Quantifying the contribution of technological change to economic growth in different eras: a review of the evidence," Economic History Working Papers 22350, London School of Economics and Political Science, Department of Economic History.
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  16. Maddison, Angus, 1987. "Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 649-98, June.
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