Growth Potential in Emerging Countries

Enrica Di Stefano () and Daniela Marconi
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Enrica Di Stefano: Directorate General for Economics, Statistics and Research, International Relations and Economics Directorate

A chapter in International Macroeconomics in the Wake of the Global Financial Crisis, 2018, pp 43-57 from Springer

Abstract: Abstract We examine the growth performance of six emerging economies (Brazil, China, India, Indonesia, Russia and Turkey) over the last two decades to discuss whether domestic structural constraints are affecting their present and future growth potential. In order to better assess the determinants of the recent synchronized slowdown of these economies, we concentrate on the dynamics of labour productivity and of employment. We find that the ongoing slowdown in EMEs is largely structural, but there is still ample room for catching up in terms of output composition, reallocation of labour across sectors and within-sector productivity improvements. The scope for further reform and reform priorities differs across countries. In the longer run other structural factors will weigh on potential growth, particularly the evolution of the size and quality of the labour force.

Keywords: Output Composition; Future Growth Potential; Labour Productivity Gap; Labor Reallocation; Total Factor Productivity (TFP) (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fimchp:978-3-319-79075-6_3

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DOI: 10.1007/978-3-319-79075-6_3

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