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Sources of Economic Growth in East Asia: A Nonparametric Assessment

Author

Listed:
  • Mr. Mohsin S. Khan
  • Mr. Shigeru Iwata
  • Mr. Hiroshi Murao

Abstract

The conventional growth-accounting approach to estimating the sources of economic growth requires unrealistically strong assumptions about the competitiveness of factor markets and 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 are 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.

Suggested Citation

  • Mr. Mohsin S. Khan & Mr. Shigeru Iwata & Mr. Hiroshi Murao, 2002. "Sources of Economic Growth in East Asia: A Nonparametric Assessment," IMF Working Papers 2002/013, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2002/013
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    Cited by:

    1. Ms. Dalia S Hakura, 2004. "Growth in the Middle East and North Africa," IMF Working Papers 2004/056, International Monetary Fund.
    2. Ben Hammouda, Hakim & Oulmane, Nassim & Sadni-Jallab, Mustapha, 2006. "The Impact of the Multifiber Agreement Phase out on trade in North African Countries: a Prospective Analysis ," Conference papers 331520, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    3. Jungsoo Park & Hang Ryu, 2006. "Accumulation, Technical Progress, and Increasing Returns in the Economic Growth of East Asia," Journal of Productivity Analysis, Springer, vol. 25(3), pages 243-255, June.
    4. Mr. Garbis Iradian, 2007. "Rapid Growth in Transition Economies: Growth-Accounting Approach," IMF Working Papers 2007/164, International Monetary Fund.
    5. Natalia Kharadze & Nugzar Paichadze & Nino Paresashvili, 2019. "General Trends of Business Career Management," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 5, January -.
    6. Ahmad, Mahyudin & Hall, Stephen G., 2012. "Do institutions matter for growth? Evidence from East Asian countries," MPRA Paper 42158, University Library of Munich, Germany.
    7. Graham Bird, 2004. "Growth, poverty and the IMF," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(4), pages 621-636.
    8. Park, Jungsoo, 2012. "Total factor productivity growth for 12 Asian economies: The past and the future," Japan and the World Economy, Elsevier, vol. 24(2), pages 114-127.
    9. Ahmad, Mahyudin & Marwan, Nur Fakhzan, 2012. "Economic growth and institutions in developing countries: Panel evidence," MPRA Paper 42293, University Library of Munich, Germany.
    10. Nakar Djindil Syntiche & Tabo Symphorien Ndang & Toinar Mogota Anatole, 2007. "A qui profitent les dépenses sociales au Tchad? Une analyse d'incidence à partir des données d'enquête," Working Papers PMMA 2007-11, PEP-PMMA.

    More about this item

    Keywords

    WP; East Asia; TFP growth; nonparametric regression; nonparametric estimation method; nonparametric derivative estimation technique; output elasticity; nonparametric derivative estimation method; nonparametric estimation approach; second-order Taylor approximation; nonparametric estimate; nonparametric derivative estimate; income share; income share estimate; growth accounting estimate; aggregate production function approach; Total factor productivity; Labor share; Estimation techniques; Income;
    All these keywords.

    JEL classification:

    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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