Rapid Growth in Transition Economies: Growth-Accounting Approach

July 1, 2007

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Garbis Iradian. Rapid Growth in Transition Economies: Growth-Accounting Approach, (USA: International Monetary Fund, 2007) accessed November 21, 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

This paper uses the growth-accounting approach to determine the sources of growth in transition economies. The central conclusion is that the estimated total factor productivity (TFP) growth for the former Soviet Union republics were significantly higher than other fast growing economies. A key question for prospective growth is whether the TFP gains achieved thus far have already eliminated most of the inefficiencies of central planning-and will therefore soon fade away. Underutilized labor combined with the recent trend of faster capital accumulation may play a more important role in the medium-term growth.

Subject: Capacity utilization, Labor, Production growth, Productivity, Total factor productivity

Keywords: CIS country, Physical capital, Technical efficiency, TFP growth, WP

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2007/164
Stock No:

WPIEA2007164
ISBN:

9781451867282
ISSN:

1018-5941

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