IMF Staff Papers, Volume 50, No. 2

July 11, 2003

Preview Citation

Format: Chicago

Robert P Flood. IMF Staff Papers, Volume 50, No. 2, (USA: International Monetary Fund, 2003) accessed December 22, 2024

Summary

This paper examines sources of economic growth in East Asia. The conventional growth-accounting approach to estimating the sources of economic growth requires unrealistically strong assumptions about either competitiveness of factor markets or the form of the underlying aggregate production function. The 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 tend to be different from the income shares of these factors. The paper also explores the compensating potential of private intergenerational transfers.

Subject: Aging, Balance of payments, Current account deficits, Demographic change, Financial crises, Financial institutions, Population and demographics, Production, Stocks, Total factor productivity

Keywords: Africa, Aging, Current account deficits, East Asia, Financing constraint, Global, Government benevolence, Incumbent government, Investment function, Market distortion, North America, Ruling elite, SP, Stocks, Sub-Saharan Africa, Total factor productivity

Publication Details

Pages:

172
Volume:

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DOI:

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Issue:

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Series:

IMF Staff Papers No. 2003/002
Stock No:

SPIEA0022003
ISBN:

9781589062023
ISSN:

1020-7635

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