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Belarusian Economic Growth Decomposition

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  • Dzmitry Kruk
  • Kateryna Bornukova

Abstract

Belarus experienced rapid economic growth in the 2000's, which abruptly came to halt after 2008. The authors found that the major source of growth was capital accumulation, while growth in total factor productivity (TFP) was modest. Moreover, government interventions and controls on the capital market contributed to misallocation which lowered aggregate productivity. Lack of productivity growth led to the loss of competitiveness on the international markets. Comparisons of TFP in Belarus with the Czech Republic and Sweden shows that comparative advantages of Belarus are concentrated in the natural-resource based industries, and TFP gap with the Czech Republic is not closing over time.

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File URL: http://eng.beroc.by/webroot/delivery/files/WP_24_eng_Bornukova&Kruk.pdf
File Function: First version, 2013
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Bibliographic Info

Paper provided by Belarusian Economic Research and Outreach Center (BEROC) in its series BEROC Working Paper Series with number 24.

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Length: 39 pages
Date of creation: Dec 2013
Date of revision:
Handle: RePEc:bel:wpaper:24

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Web page: http://www.beroc.by
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Related research

Keywords: Growth Accounting; Aggregate Productivity; Transition; Belarus;

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