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The Sources of Growth in the Former SFRY Countries: Comparative Analysis

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  • Popovic, Milenko
  • Cizmovic, Mirjana

Abstract

The topic of this paper is comparative analysis of the economic growth in the former SFRY countries. The paper is primarily devoted to the analysis of the sources of economic growth in these countries. In this regard, apart from conventional decomposition of growth (contributions of capital, labor and total factor productivity), the demand and the industry composition sides of the sources-of-growth analyses have also been considered. Furthermore, the reserves for further rise in GDP per capita have been identified and estimated on the basis of obtained results. Special attention has been paid to possible increase in the total factor productivity induced by the advance in “broader knowledge” as well as to increase in the labor participation rate. Institutional and policy prerequisites for realization of these reserves of growth are also briefly analysed.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 49776.

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Date of creation: 18 Jul 2013
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Handle: RePEc:pra:mprapa:49776

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Keywords: sources of growth; growth reserves; convergence;

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  1. Roland Bénabou & Efe A. Ok, 2001. "Social Mobility And The Demand For Redistribution: The Poum Hypothesis," The Quarterly Journal of Economics, MIT Press, vol. 116(2), pages 447-487, May.
  2. N. Gregory Mankiw, 1995. "The Growth of Nations," Harvard Institute of Economic Research Working Papers 1732, Harvard - Institute of Economic Research.
  3. 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.
  4. Crafts, Nicholas & Toniolo, Gianni, 1995. "Post-war Growth: An Overview," CEPR Discussion Papers 1095, C.E.P.R. Discussion Papers.
  5. Dani Rodrik, 2008. "The Real Exchange Rate and Economic Growth," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 39(2 (Fall)), pages 365-439.
  6. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May.
  7. Baffes, John & Elbadawi, Ibrahim A. & O'Connell, Stephen A., 1997. "Single-equation estimation of the equilibrium real exchange rate," Policy Research Working Paper Series 1800, The World Bank.
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