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Sources of Economic Growth in East Asia: A Nonparametric Assessment
Author: Mr. Mohsin S. Khan, Mr. Shigeru Iwata, and Mr. Hiroshi Murao
Series:
IMF Working Papers
Volume/Issue:
Volume 2002: Issue 013
Language:
English
Publication Date:
01 Jan 2002
DOI:
https://doi.org/10.5089/9781451843019.001
ISBN:
9781451843019
ISSN:
1018-5941
Pages:
28
Keywords:
WP; East Asia; TFP growth; nonparametric regression; nonparametric estimation method; nonparametric derivative estimation technique; output elasticity; nonparametric derivative estimation method; nonparametric estimation approach; second-order Taylor approximation; nonparametric estimate; nonparametric derivative estimate; income share; income share estimate; growth accounting estimate; aggregate production function approach; Total factor productivity; Labor share; Estimation techniques; Income
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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 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.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund