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Sri Lanka’s Sources of Growth

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  • Nombulelo Braiton

Abstract

This paper uses the growth accounting framework to assess Sri Lanka's sources of growth. It finds that while labor was the dominant factor contributing to growth in the 1980s, labor's contribution declined over time and was overtaken, to a large extent, by total factor productivity (TFP) and, to a lower extent, by physical and human capital accumulation. A higher growth path over the medium term will depend on securing a stable political and macroeconomic environment; implementing structural reforms necessary to improve productivity and efficiency of investment; attaining fiscal consolidation; and creating space for the private sector.

Suggested Citation

  • Nombulelo Braiton, 2007. "Sri Lanka’s Sources of Growth," IMF Working Papers 07/225, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:07/225
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    References listed on IDEAS

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    1. D. W. Jorgenson & Z. Griliches, 1967. "The Explanation of Productivity Change," Review of Economic Studies, Oxford University Press, vol. 34(3), pages 249-283.
    2. Barro, Robert J, 1999. "Notes on Growth Accounting," Journal of Economic Growth, Springer, vol. 4(2), pages 119-137, June.
    3. E. Paul Durrenberger, 2005. "Labour," Chapters,in: A Handbook of Economic Anthropology, chapter 8 Edward Elgar Publishing.
    4. Alberto Musso & Thomas Westermann, 2005. "Assessing potential output growth in the euro area - a growth accounting perspective," Occasional Paper Series 22, European Central Bank.
    5. Albers, Ronald & Vijselaar, Focco, 2002. "New technologies and productivity growth in the euro area," Working Paper Series 0122, European Central Bank.
    6. Yisheng Bu, 2006. "Fixed capital stock depreciation in developing countries: Some evidence from firm level data," Journal of Development Studies, Taylor & Francis Journals, vol. 42(5), pages 881-901.
    7. Barry P. Bosworth & Susan M. Collins, 2003. "The Empirics of Growth: An Update," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 113-206.
    8. Dani Rodrik & Arvind Subramanian, 2004. "Why India Can Grow At 7 Percent a Year or More; Projections and Reflections," IMF Working Papers 04/118, International Monetary Fund.
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    Cited by:

    1. Ding Ding & John Nelmes & Roshan Perera & Volodymyr Tulin, 2014. "Estimating Sri Lanka’s Potential Output," IMF Working Papers 14/40, International Monetary Fund.
    2. Ganegodage, K. Renuka & Rambaldi, Alicia N., 2011. "The impact of education investment on Sri Lankan economic growth," Economics of Education Review, Elsevier, vol. 30(6), pages 1491-1502.
    3. T. Vinayagathasan & S. Vijesandiran, 2015. "Dynamic Relationship between Human Capital and Economic Growth in Sri Lanka: A Co-Integration Analysis," Growth, Asian Online Journal Publishing Group, vol. 2(2), pages 20-29.

    More about this item

    Keywords

    Capital accumulation; Economic growth; Sri Lanka; Total factor productivity; Growth accounting; tfp; unemployment; real gdp;

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