Belarusian Economic Growth Decomposition

Dzmitry Kruk and Kateryna Bornukova

No 24, BEROC Working Paper Series from Belarusian Economic Research and Outreach Center (BEROC)

Abstract: Belarus experienced rapid economic growth in the 2000's, which abruptly came to halt after 2008. The authors found that the major source of growth was capital accumulation, while growth in total factor productivity (TFP) was modest. Moreover, government interventions and controls on the capital market contributed to misallocation which lowered aggregate productivity. Lack of productivity growth led to the loss of competitiveness on the international markets. Comparisons of TFP in Belarus with the Czech Republic and Sweden shows that comparative advantages of Belarus are concentrated in the natural-resource based industries, and TFP gap with the Czech Republic is not closing over time.

Keywords: Growth Accounting; Aggregate Productivity; Transition; Belarus (search for similar items in EconPapers)
JEL-codes: O47 P27 P44 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2013-12
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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