Sources of Economic Growth in East Asia: A Nonparametric Assessment

By Mohsin S. Khan, Shigeru Iwata, Hiroshi Murao

January 1, 2002

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Mohsin S. Khan, Shigeru Iwata, and Hiroshi Murao. Sources of Economic Growth in East Asia: A Nonparametric Assessment, (USA: International Monetary Fund, 2002) accessed December 22, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Econometric analysis, Estimation techniques, Income, Labor, Labor share, National accounts, Production, Total factor productivity

Keywords: Aggregate production function approach, East Asia, Estimation techniques, Growth accounting estimate, Income, Income share, Income share estimate, Labor share, Nonparametric derivative estimate, Nonparametric derivative estimation method, Nonparametric derivative estimation technique, Nonparametric estimate, Nonparametric estimation approach, Nonparametric estimation method, Nonparametric regression, Output elasticity, Second-order Taylor approximation, TFP growth, Total factor productivity, WP

Publication Details

Pages:

28
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2002/013
Stock No:

WPIEA0132002
ISBN:

9781451843019
ISSN:

1018-5941

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