Potential Output and Total Factor Productivity Growth in Post-Apartheid South Africa
AbstractThis paper provides estimates of potential output growth in post-apartheid South Africa using both time trend techniques and a production function approach which indicates a potential growth rate of around 3 percent. The implied output gap provides statistically significant information for predicting inflation and could thus provide valuable input for formulating macroeconomic policy. Growth accounting and regression analysis suggest that an increase in trend GDP growth after the end of apartheid in 1994 is attributable to higher TFP growth driven by trade liberalization and greater private sector participation.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 03/178.
Date of creation: 01 Sep 2003
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