Sources of Economic Growth in East Asia: A Nonparametric Assessment

Mohsin Khan, Shigeru Iwata and Hiroshi Murao

No 2002/013, IMF Working Papers from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 28
Date: 2002-01-01
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Citations: View citations in EconPapers (8)

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