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Assessing Eastern Europe's Capital Needs
Author:
Mr. Anthony R. Boote
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Series:
IMF Working Papers
Volume/Issue:
Volume 1992: Issue 012
Language:
English
Publication Date:
01 Feb 1992
DOI:
https://doi.org/10.5089/9781451842821.001
ISBN:
9781451842821
ISSN:
1018-5941
Pages:
24
Keywords:
WP; rate of return; capital; EC level; EC catch up; EC standards of living; labor ratio; EC average; EC efficiency level; EC production function; Stocks; Purchasing power parity; Income; Exchange rates; Eastern Europe
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The paper aims at assessing the capital needs of Eastern Europe in catching up to EC standards of living using the framework of a CES (constant elasticity of substitution) production function model. This function, parameterized on the EC, is assumed to apply with certain inefficiency factors in Eastern Europe in 1992. Quantitative results, given the heroic set of assumptions required, are bounded by large ranges. The approach provides a framework for assessing the factors which will determine the future capital needs in Eastern Europe and underscores the crucial role of efficiency gains in this process.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund