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Rapid Growth in Transition Economies: Growth-Accounting Approach
Author:
Mr. Garbis Iradian
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Series:
IMF Working Papers
Volume/Issue:
Volume 2007: Issue 164
Language:
English
Publication Date:
01 Jul 2007
DOI:
https://doi.org/10.5089/9781451867282.001
ISBN:
9781451867282
ISSN:
1018-5941
Pages:
34
Keywords:
WP; TFP growth; technical efficiency; CIS country; physical capital
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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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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund